A reliance agent cheated me by using my check for his own policy and later Reliance Life Insurance grabbed that money and didnt return it to me.
I had been communicating with Reliance Life CEO and CFO. But these bunch of crooks are there only to grab your money. They will not return your money. And they will make you go through all sorts of legal trouble to give back your own money. They all are corrupt and involved in harassing innocent customer.
NEVER INVEST WITH RELIANCE LIFE, THESE BAST**DS WILL CHEAT YOU !
It's investors at fault, for not understanding the product better. How can some new product, never launched before in India, be sold as Good investment products? Always, one should wait n watch.
Somebody below has mentioned 10 years horizon for ULIP's to deliver 15-20 % returns. Please know that your money doubles (100 %) when you keep in FD's for maybe 10-12 years. So, which investment product is better?
Also just go in for simple regular equity mutual funds. They do not have entry/exit loads, but give 15-20 % returns in a year. I have invested in plain vanilla tax saving mutual funds. No loads, 3 years lock in, now getting a return of 45 % and also claiming tax deduction.
ULIP's are just white collar lott and we ourselves are to blame for trusting others for our ivestments.
Re: We ourselves are foolish for ivesting in ULIP's.
by anil singh on Feb 22, 2010 11:50 AM
follow rule 72,ie. divide 72 by rate of interest,that gives you the no. of years your money gets doubled.eg.rate of interest is 7%,then 72/7=10.28 years your money gets doubled.Dont blame ULIPs,if you are looking for horizon of 10-12 years, 15-20 % of return year on year,what you have mentioned gives you a very good return.I hope you know the formula for that else try on excel sheet.Moreover you have no idea on charges of mutual fund,it may seem no entry load but there are even lot of expenses involved after which the NAV is fixed.
Re: We ourselves are foolish for ivesting in ULIP's.
by Gautam Nagda on Feb 20, 2010 07:11 PM
100 % return in FD's GUARANTEED. But 10 years in ULIP"s, still no guarantee about returns as it is market based.
Re: Re: We ourselves are foolish for ivesting in ULIP's.
by anil singh on Feb 22, 2010 12:18 PM
It seems you are very weak in calculations and accounting.
DONT BUY TENSION ANXIETY FRUSTRATION INVEST IN UR (PREFER) LOCAL CO-OP BANK OR POSTAL(HEADACHE TO CONVINCE IF UR SIGN DEVIATES CSE NO PHOTOGRAPH WITH THEM 4 VERIFICATION) BUT NOT THIS TUGS HDFC ICICI SBI TATA Aig bajaj Reliance all r showing loss BAD TIME 4 OUR HARD EARNED MONEY
Plz comment on Kotak Super Advantage, i bought this for a tenure of 6yrs, they r gauranting me 280% on first premium...nd no surrender charges after 6 yrs, they got a 3yr lockin period.... is this good investment.
Re: Kotak Super Advantage...
by anil singh on Feb 22, 2010 11:54 AM
that could have been a very good investment if premium is more than 36000 and premium paying term would have been at least more than 15 years,for short term you could have taken Mutual funds itself,why to attract charges on your investments
ULIP IS GOOD PLAN ,WE NEED TO SEE CHARGES AND NEED TO COMPARE DIFFERENT PLANS BEFORE PURCHASE AND NEED TO WAIT MIN 10 YEARS TO SEE RETURNS ANY CLARIFICATION CONTACT 09686973938
Re: ULIP IS GOOD IF YOU CHOOSE RIGHT PLAN
by balakrishna m on Feb 19, 2010 10:04 AM
ULIP is the worst insurance/investment option available now. It's nothing but a daytime robbery. Investors money is robbed by the insurance company and shared among the advisors/agents/brokers. All insurance agents will try to promote ULIPs as it gives the maximum profit to insurance company as well as agents. All the insurance companies launch similar products with different names. There may be minor variances, but the charges will be almost same. There is nothing much to compare. Returns are purely dependent on share market. Many of us are trapped in ULIPs for 3-4 years and so the agents are left with only option to advise us to hold it for 10 years. By 10 years insurance companies would have eaten out a good portion of our investment and our fund value will be at 50% of our invested amount. So my advice to all is: Please be away from ULIPs. If you want insurance go for Term Isurance or take good policies from LIC. For investment purpose go for SIPs with different mutual funds.
Re: Re: ULIP IS GOOD IF YOU CHOOSE RIGHT PLAN
by dwarasila reddy on Feb 20, 2010 08:54 AM
choose policies from LIC they will give good returns compared with pvt companies(last 53 years they were doing business in india, LIC)
Re: Re: Re: ULIP IS GOOD IF YOU CHOOSE RIGHT PLAN
by anil singh on Feb 22, 2010 12:11 PM
In case you are not comfortable with the ULIPs,it's fine,but don't blame the company/advisors/brokers, it is you to be blamed as every thing is mentioned in the brochures.Buy a term plan for longest tenure available and then invest in other instruments.I am sorry to say that LIC has been giving worst returns when compared to market linked plans as they are less aggressive.You doubt about any company eating up your money but you have no idea what LIC has done for these many years.I am not against LIC but mind it they have ruined the insurance market, have you any idea what is the surplus they have till date,from did that money has come.You are blaming ULIPS only because of your ignorance.
Re: Re: Re: Re: ULIP IS GOOD IF YOU CHOOSE RIGHT PLAN
by wagatail on Mar 04, 2010 10:12 PM
Nonsense ... do you know that ULIPS give the agents 60-70% commission from the first year's premium upfront ? Deduct this from the total ... add 10-15% charges of the insurance company every year and see how long it will take for you to get any returns on your money ...
Beaware of TATA AIG...it is one of the worst in this segment. They deduct 40% and 30% as charge in first two years and you have to pay minimum 6 years and can not withdraw before that. Entire investment of mine is in bug red and they do not have any web interface for chatting or getting fund value....Never do TAT AIG
Re: The worst is TATA AIG
by subash bose on Feb 19, 2010 05:45 AM
I think, we should avoid ULIPS. Personally, I do not entertain people speak about (agents like Karvy / HDFC/ Etc) ULIPS to me. All that they speak is an utter lie.
Re: Re: The worst is TATA AIG
by SANDEEP PATIL on Feb 19, 2010 09:11 AM
Agreed. Same is the case with HDFC tandard life's Unit Link Endowment Winner Plan and all others/ They deduct 35 - 40 % for two years. Please help me on signature forgery. My signature was forged by HDFC fund manager (Panipat)most important pages of policy where above particulars appears. I have registered a complaint with HDFC but no response for long time now. ULIP should be avoided.
Re: Re: Re: Re: The worst is TATA AIG
by prasad venkat on Feb 19, 2010 10:03 AM
Beware of Bajaj allianz policies - they will deduct 25% first year, 22% second year and so on not only that they will debit your account monthly some charges which no one can have answer. their aim is to take back all your allocated units by the end of tenure. Pls dont invite Bajaj Allianz to your house.
Ulip is nothing but an Insurance Plan merged with investment Plan ( UNIT LINKED INSURANCE PLAN)
Now Investment is what ? amount which will be disinvested in the future.
Waht About Insurance? Will you Ever Surrender and Insurance Policy for which you have Paid hevily in the first year and further for next each month you are paying Premium.
But Whenever you disinvest your Investement in ULIP You are surrendring your Insurance Policy..
Best Solution. Buy Insurance Separatly. & Invest Seprately
