IDBI wealthsurance???

hi,

i am investing IDBI wealthsurance, they said they are putting into ULIP.

If i pay Rs.10,000 for 3 years, at the end ofn 4.5 years i will getting Rs.60,000.

is this true??? will i get this refund guranteed??? also they are saying, IDBI has 50% growth in last 6 months. also 10% interest will be paid for the amount deposit.

i dont know exactly whether this is true or not. please help me friends.

Thanks,
Jeny

Originally Posted by jeny12

hi,

i am investing IDBI wealthsurance, they said they are putting into ULIP.

If i pay Rs.10,000 for 3 years, at the end ofn 4.5 years i will getting Rs.60,000.

is this true??? will i get this refund guranteed??? also they are saying, IDBI has 50% growth in last 6 months. also 10% interest will be paid for the amount deposit.

i dont know exactly whether this is true or not. please help me friends.

Thanks,
Jeny

Please stay away from ULIP. As stock market bounced in last 6 months, investors could have gained 50% return if invested in any decent MF before 6 months. Past performance may not be repeated again. If you know anybody who have invested before 2 or 2.5 years in mutual funds are still in loss. One more, do not mix investment with insurance. Both are different. Try to invest in stocks, mf, gold, real-estate etc. Never put all your eggs in one basket.

Devi Naren

Devi,
Can you clarify why ULIPs have to be avoided? I don't get it.
Btw, I haven't seen anyone gain 50% in this market(even with an investment 6months earlier when the market was down considerably). Can you clarify which fund you are mentioning that has gone up 50%? I'd like to try it out.
I also don't see why any Insurance with a sum assured at the end of the tenure cannot be an investment vehicle. Diversification can also mean some principal in insurance right? Then how is it not a n investment strategy?

If they are promising 100% return of your money, its a scam. No investment can generate those kind of returns guaranteed unless its a ponzi scheme. Also, I agree with other Devinaren, separate insurance and stocks. What are you investing in in this fund that could possibly generate those kind of returns? I'd do your homework on what this investment really is.

I simply second with you all!!
Don't get confused Insurance with investments and don't rush for that kind of stuff. One of my friends invested in LIC ULIP, almost 3 years over, still she couldn't see any fruitful results, not even guarantee on the investment amount.........forget returns.

Hi Jeny12

First of all, I appreciate you for making wise decision in investing.



Thumb rule of investing: You investment should beat inflation.

Let me explain you in brief about this: Try to find out your total expenses in month(food, rental, cloths, movie tickets etc). Let us say it comes to around 15,000. Now calculate your total expense for the same last year, lets say it comes to around 12,000. So 3, 000 increase in expenses in one year, 20% increase in expense. Your investment should be in such way that can overtake this increase in expense(20%).

Try consulting an investment training firm, there is one in Chennai which helps small investors and part-time traders to earn money. They are not selling shares or mutual funds, they mentor and educate investors to make money in stock market.