RE:12th thing you should not do with your money
by Shahnawaz Bhat on Mar 09, 2008 09:24 AM Permalink
Dear Neel Reddy,
Without investment and portfolio knowledge you can not specify which company is deducting what.ULIP is talk of town,last year insurance industry sold 76% ULIP products in market.Birla Sunlife was first company to launch ULIP concept in india.They have Products with entry load of 2% to 65%, it depends on customers need and knowledge which product one should buy.ULIP are giving returns at par or more than ELSS Mutual Funds and fund managers can shift 100% in Debt market, when market ids bearish and 100% in Equity market, when is bullish.ULIPs give you benefit of Sec 80c and Sec 10(10D) and can provide you benefits of Life insurance cover as per your need and human life value.I recommend you to read economic times,watch business channels and read business magazines to develop your knowledge.Cheers!!!S Bhat, Bangalore.
RE:RE:12th thing you should not do with your money
by Neel Reddy on Mar 09, 2008 10:32 AM Permalink
Dear Shahnawz,
I have similar ULI plans with Birla Sunlife and ICICI Prudential. ICICI Preudential investment has more than doubled by now. Birla Sunlife premium has reduced by 30%. I don't know when it will even break even. I have got BSL policy through CItibank and they did not even bother to explain about the initial load which was 65%.
RE:12th thing you should not do with your money
by Priyanka Aggarwal on Mar 09, 2008 12:38 PM Permalink
Citibank is a true distributors projecting themselves as financial advisor. Speak to any Citibank Wealth RM and tell him/her you want to invest in a secured plan, long term and regularly...All of them will say Birla Flexi Life Line ..as the product attracts greater than 50% revenue.I am not saying the plan is bad, but most of these so Called Wealth RM work hard to increase the revenue for the bank and incentives for themselves at the cost of ignorant customers. Please check on charges before investing and also suitability of plans as per your financial goals.
RE:12th thing you should not do with your money
by ausi ka baap on Mar 09, 2008 03:01 PM Permalink
i think ulip schemes of all insurance companies take around 22% to 28% of ur savings in the first 3 years. so dont b specific on birla sunlife. its the strategy of ulip schemes. before taking the policy, read carefully and compare other company's schemes also. dont go by the agents bcoz, they wnat to earn commission. i hv observed agents advocating ulip schemes instead of mf investment since in mf, they get comision only once, whereas in ulip, they get comision every year.
