ULIP fundamentals #3 with Fast Facts

Which is the most complex policy?
ULIP

Which is the costliest policy ever?
ULIP

Which is the worst policy for policy holder?
ULIP

Which product does not guarantee your premium amount too?
ULIP

Which product is least transparent for the policy holder?
ULIP

Which product has highest no of terms and conditions?
ULIP

Which product does not guarantee any return?
ULIP

Which is the most selling product by agent/company?
ULIP

Which is the most profitable product for company?
ULIP

Which product gives you more frustrations when you really understand product better?
ULIP

Which product has the highest terms and conditions for surrendering the policy?
ULIP

Which product gives high commission to the agent?
ULIP

Which product misguide policy holder the most?
ULIP

Which is the best policy for life Insurance company?
ULIP

Which product selling force your agent calls you twice in a day, each day?
ULIP

Which is the hot product in the market?
ULIP

I had taken ULIP policy four years back by just looking at the illustration at the end of policy document as shown by insurance agent of Max new York life insurance Company. I have rectified this big mistake in 2010 by surrendering this policy even if I am making of loss of 15%.

My total investment in ULIP is Rs 60,000 and current fund value is Rs 49,500, So far they have deducted more than Rs.15, 000 as ULIP charges. If I would have done investment in Mutual funds, my fund value should be nearly Rs.1 Lakh.

Summary: Basic and final fact is you are not getting enough insurance coverage and enough return on your investment in any ULIP policy for short term or long term.

Just say “NO” to any form of ULIP policy.


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