Everyone is bound to make financial mistakes because of complex personal finance world. Even i also learnt from my financial mistakes after paying price for the same. Financial wisdom says that "Listen to your mind". Most importantly "Heart should not overtake mind while making financial decisions". In my opinion, the biggest problem in our country which in turn is sole reason for committing financial mistakes is "FREE ADVICE". Its a fact that anyone giving FREE FINANCIAL ADVICE will have vested interest in mind. Be it insurance, stock or financial investment. Assuming i ask a bank employee ... Read More
Beware of Hidden ULIP Charges
ULIP Charges and Greed are synonyms for each other. ULIP (Unit Linked Plan) is a perfect case study of How Greed Kills. Greed is always both ways i.e. Banks/Insurance Provider's greed to sell more and Greed of investor for higher returns. ULIP was launched in 1971 but all the mess in ULIP started after private life insurers entered in 2000. ULIP misselling became so rampant that IRDA (Insurance Regulatory and Development Authority) had to step in. IRDA came up with regulations for ULIP to control ULIP charges in September 2010. I still remember that for few ULIP products, large portion of ... Read More
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