I though of investing my hard earned money and always though of doing FD where I don’t need to worry about market and I know I will get atleast 9.25% returns. I went to bank to HDFC bank to do FD(as I was there reliable customer for 7+ years) but the guys over there convinced me to take ULIPS rather than FD. so took 2 policies from HDFC and 2 from ICICI with total annual payment of 2 lakhs.
those guys never tell you about the fees, taxes, hidden costs involved. you think those 2 lakhs will be invested but they deduct all the things and invest around 1.7-1.8 lakhs per annum. and after 3 years my total investment is 6 lakhs and the fund value is 4.2 lakhs:(. I cant discountinue . if I do they will deduct the discountinue charges and dont retrun the money until 5 years(they will keep the money and return with interest rate of 3.5 which suck again)
if I have done FD at-least I would have 7.5 lakhs . my advice dont go with ULIPS unless you know all the hidden costs . if you are layman like me and don’t want to worry abt market better to invest in FD.