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?
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 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
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.
I had the similar experience with ING Vysya, where I had invested 75000 and surrended the policy in Jan, 2011 for 51400. Quite big loss for me with the stupid ING Vysya New Freedom plan.
ReplyDeleteSo with personal experience now suggesting best plans to my clients being a financial advisor.