A close friend pinged me about ICICI Pru Assured Savings Insurance Plan and asked if it was a good plan to invest. Let’s find out. ICICI Pru Assured Savings Plan: Salient Features ICICI Prudential Assured Savings Insurance Plan is a traditional, non-linked, non-participating plan.Non-linked means the plan is not a ULIP.Non-participating means this is not a … [Read more...] about Review: ICICI Pru Assured Savings Insurance Plan: Should you invest?
LIC Jeevan Shiromani is a traditional money back plan. It has a flavor of both participating and non-participating life insurance plans. You get certain guaranteed benefits (known upfront) and certain benefits are linked to the investment performance of LIC. Let's look at some of the salient features of the plan and see if you should invest in such a plan. LIC Jeevan … [Read more...] about Review: LIC Jeevan Shiromani (Benefit, Features, Returns): Should you invest?
LIC Jeevan Labh (Plan 836) is a limited premium, non-linked participating endowment plan. Traditional life insurance plans are poor products and I do not expect LIC Jeevan Labh to be any different. It is a new plan, at least on paper. In reality, it is old wine in a new bottle. Let’s find out more about this plan in this post and see if makes sense to invest in such a … [Read more...] about There is no LABH in LIC Jeevan Labh
In my many posts on traditional life insurance plans, I have tried to make simple excel models to demonstrate that the traditional life insurance plans make for poor insurance and investment products and that such plans should be strictly avoided. In this post, I will demonstrate why endowment insurance plans are bad without using any excel model. In this post, when I use … [Read more...] about The Problems with Endowment plans
Traditional life insurance plans are opaque, offer low life cover and provide guaranteed poor returns. Insurance companies try to package products in new ways to get investors to invest in these plans. A traditional life insurance plan, especially a participating plan, is so opaque that it becomes difficult to assess how the investment performance of the insurance company … [Read more...] about No parent should purchase LIC Jeevan Tarun
You have been looking to buy an insurance plan. You don’t want to purchase a pure vanilla term insurance plan since you do not get anything back. You have read about so many bad things about Unit linked insurance plans (ULIPs). So, you don’t want to purchase those either. You meet an insurance company representative/agent who talks about traditional insurance plans (kind of … [Read more...] about Say NO to Traditional Life Insurance Plans