Many Ignorant Investors (Rich or middle class) invest in insurance policies - ULIP etc. -
at the end of Financial Year just to get tax exemptions.
Even educated and highly posted people buy insurance policies without getting properly informed.
For some it is status symbol, for some believe it is security for family.
Most of them are misguided by Insurance companies and agents ;
by keeping the products not simple and mysterious
On the other hand insurance companies are "considered to be"
vehicle of government to mobilize the part of contributions to infrastructure
projects and hence national growth !!
Should Tax benefits be removed from insurance policies ;
And Government should force the insurance companies, actuaries to come out with real
good , useful plans for common men ?
Bankim Shah
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