Finance Rule #08
Insurance is Not Investment
Buy term insurance for protection. Invest separately for wealth. Never mix the two.
"ULIPs, endowment plans, and money-back policies fail at both — poor insurance and poor returns."
The insurance industry has brilliantly conflated two very different products. Pure term insurance is dirt cheap. Investment returns in ULIPs and endowment plans are consistently poor after charges. Separating them costs less and builds more.
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