Is birla sun life platinum plus plan the best ulip plan available ?

Question

Is birla sun life platinum plus plan the best ulip plan available ?

Answer 1

I studied so many ULIPs in last one year. None of the ULIP is best due to the charges.

Insure through Term insurance & Invest in Mutual Fund

Answer 2

ULIP has charges which with hurt you when you know the amount that goes into your account in the first 3 years. they are costly and minimum of 10 years is required to get the returns.

All ULIPs are almost the same. Cater for the charges and and other features given and then invest. No No ULIP is not investment - It is INSURANCE.

Thx

Answer 3

Asnwer is simple -Do not mix Insurance and Investment.

Keep them apart.

A ULIP is a mix of investment and Insurance.

You have other options also.

Answer 4

Well First I will tell u the Details ( not the selling ones but those which an investor should know)

See it is a 10 yr plan with premium payment for 3yrs

the charges ( premium allocation charges) are

Ist Yr - 10%

2nd Yr- 4%

3rd Yr-4%

On the higher side, now the major USP which BSL people tell is that they will give u a minimium Gurantee of NAV ( the maximum NAV of 88 months starting from 17th March 2008 )

This NAV  will be locked for u and after that if NAV decreases u will get the LOCKED NAV and if it increase U will get the Increased NAV.

BUT THE FACT IS ANY PRODUCT WHICH GIVES U GRANTEE WILL GIVE U LOWER RETURNS, AS SUCH THIS HAS ONLY ONE FUND OPTION .

Now some comparisions If u compare Birla Platinum Plus with Birla Classic Life u find in there Illustrations that the maturity value of Birla Classic life comes to be at par or more than Birla Platinum Plus ( I compared the illustrations given by birla itself)

THUS if u want a ULIP compare their Illustrations table and thus decide,

If u are looking to invest Then Invest in Mutual Funds ULIPs are not investments. Thanks