Are ULIPs getting better?

I was recently approached by an insurance agent with a ULIP. Even though I was not willing to take the policy, he wanted to present the plan and get my feedback. 

The plan in question is Birla Sun Life’s Classic Endowment Plan . The basic sum assured for the plan presented to me was Rs.3,75,000. But paying an extra premium I can get the life cover enhanced to whatever I prefer. In this case, we took the enhanced sum assured as Rs. 18,00,000.  Policy paying term is 10 years (I pay for only 10 years) and the policy term is for 30 years (I get cover for 30 years). For a 33 year old male, the annual policy worked out to Rs.36,538. (total pay-out of Rs.3,65,380)

Common Insurance Mistakes

Here is a short story based on a real life example.

Mr.X passed away two months back after a sudden illness. He was 52 and is survived by his wife, college going daughter and school going son.

Mr.X worked in the Merchant Navy and was always aware of the risky nature of his job. So he was more than happy to take a few insurance policies when approached by relatives/ friends who were insurance agents. He kept all the policy documents with his wife for safe keeping. Being a house wife, he knew she was good at filing papers neatly, and she was the one who would need those anyway, if something happened to him. He had 5 policies in all and his yearly premiums were close to 75,000 - more than sufficient to cover the tax exemption limits along with his PF contributions. His annual salary was around 10 lakhs.

New Car - Ritz Zxi

It has been almost 2 months since i took the Ritz (Zxi, Baker's Chocolate). Over these days i am happy to notice a steady increase in the number of Ritzs on road. And why not, as per my experience (and many reviews on the internet) it is a real value-for-money, practical car. If you have a weak lower-back, has a tall frame to carry with you and do not yet want a "big" car, the Ritz is a boon!

When i decided to go for a new car, my prime consideration was a higher and better riding posture than my good old Zen. And my budget was around 5 lakhs.  So the options for me were rather limited. The following were considered:

Truth behind "NAV guaranteed" policies

There are a host of "NAV guaranteed" policies (ULIP/ ULPP) these days. It comes in different names and variations and easily one of the hottest in sales kits of insurance agents. Here is good hard look at such policies.