I advice strongly against investing into any of these unassured schemes simply because a carrot of Tax Saving is shown in these schemes , as you may end up getting even less than half you invested after THREE years. It happened personally in my case . I invested Rs.10,000/ in SBI Taxmagnum in the year 2001 and I got Rs.4186 in the year 2004. SBI is supposed to have experts in investments! I am feeling cheated and angry after this experience.
RE:SBI Taxmagnum
by Sitar on Mar 02, 2005 03:54 PM Permalink
Hello Sir, Its not always necessary that a player in banking industry is always a champ in investment. So after burning your hands in SBI Life u should not criticise other Unit-linked products. Other Pvt. players in Insurance sector are giving handsome returns, and of course UNIT LINKED LIFE INSURANCE PRODUCTS ARE LONG TERM COMMITMENTS, u must give it a little more time to grow. 3 years is not an enough period to see ur money grow. After all its a LIFE INSURANCE and not a MUTUAL FUND. So again next time look for the past NAV results and then proceed with ur investments and mind well atleast wait for a slightly longer periods, u will b satisfied with the results. REGARDS SITAR.
