credit_explorer
TF Buzz
But they are not ready to sell me ULIP plan, they want me to invest in non-unit linked participating plan. Sampoorna Jeevan. Opinion?
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HDFC offering Infinia against investment - is it worth it?
- Thread starter credit_explorer
- Start date
But they are not ready to sell me ULIP plan, they want me to invest in non-unit linked participating plan. Sampoorna Jeevan. Opinion?
No idea, really.. sorry
It's an endowment plan like LIC. no need to go for it.if want to go ahead. Check if you can neutralise the ill effects of this policy on your funds if you can earn/save the same using Infinia.
Get infinia before investing. Fill form, don't sign. Tell them to get infinia and then you sign.
For 1L / yr, can u get 5-7k value per yr from infinia? Then yes if u want, go for it. U can get 5-6% roi on ulip. Add another 5-6k on infinia and that's 12k / yr on 1L investment.
Take sign on surrender value. Or ask RM to show clause in policy.
credit_explorer
TF Buzz
Is is possible to hold signature till I get infinia? Has somebody done that? Suggestions please
credit_explorer
TF Buzz
To be very honest, Infinia is not at all worth all this. Let me call it what it is, it's a TRAP. Do not fall for this TRAP. If you want standard 3.3% reward rate with unlimited lounge access, you can simply take DCB. Axis Atlas itself will give you better base rate if purpose is to use rewards for travel. Taking any sort of insurance for an Infinia credit card is a very bad deal.
Maybe you can throw them a carrot saying that you can only do car insurance via them whenever the car insurance is due. Maybe shift the broker in your medical insurance / term insurance to the bank if that is okay with you. But do not take an insurance which you do not need, it's a very bad deal!
Maybe you can throw them a carrot saying that you can only do car insurance via them whenever the car insurance is due. Maybe shift the broker in your medical insurance / term insurance to the bank if that is okay with you. But do not take an insurance which you do not need, it's a very bad deal!
I really don’t know about this holding signature thing..
As our mate said, it’s not really worth this much to get Infinia..
You just take a simple decision, you want it take it by putting trust in the banker .
Otherwise leave it..
It’s not worth spending this much time…
sidp
TF Legend
Please do a proper calculation. These plans are specifically designed deceive you.
when i applied cc for my mother the branch guy had brought a girl for investment, some Nischit ayush plan: Give 1L and get 41k every year. I said send me the doc , I'll check and let you know. When I did calculation it was 5% interest for 30years lock in.
The girl later called and was trying to convince me I am wrong. That Real rate is around 15%. I said I teach people how to do this kind of calculation mentally. I complained to the branch guy. Never go with her. People will beat you once they realize how bad that plan is. After that I never saw her in branch.
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That’s a secured card.
sidp
TF Legend
Ask for ulip. 1 L pa ulip plan for infinnia would be a pretty good deal.
I have read all the post. We all never asked if infinia is compatible with your spend or not. Which card you already have. And I didn't took the insurance for my Dad's Moneyback have mentioned 30k p.m so wait if you can. Cause that 1 lakhs Will be around 30k p.m soon. Plus even after this devaluation can take place. Do understand don't go for something which is not required at the current moment. You can now upgrade to infinia later cause this offer isn't going anywhere. This isn't just a financial ending deal this will stick around even after fy.
sidp
TF Legend
Exactly. Plus just look at dcb plastic. Under alumni offer they started adding new colleges every day. Gave so many ltf card and then devaluation.
Who can say after infinnia reserve launch same won't happen to infinnia.
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Oishik Sarkar
TF Neo
Don't take any endowment policy by HDFC that also just for a credit card. It's simply not worth it. It's burning money. The policy will eat all your money and will not give return as per inflation.
Yes this is 💯 Correct..
Never ever take CC against any type of Insurance investment.. you will always lose majority of the money…Never do anything in desperation..
I am one of those desperate people on this forum who took Infinia against ULIP…
Just earn your Infinia or Infinia Reserve (may be in future) in the traditional way.. (I.e. via, card upgrades, LE, spending criteria , spending years etc ) …this is much more profitable.. at least you won’t lose your investment money…
Be cautious and be safe and there by be HAPPY…
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Infinia is upgrade only card
Probably not a good idea, considering you always lose insurance investment money to start with …and also will have to experience devaluation after infinia reserve.,… who knows how much they devalue…
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sidp
TF Legend
To each his own. 1st he talked about some endowment plan which are very bad. Most of them give lower return than govt bonds & have high lock in period. 1.5lpa for 3yrs and surrender value is 6-6.5L? Seems like mis-selling.
As he was offered at 1lpa investment. I suggested ulip can be good. With that amount, additional rewards from infinnia can negate the opportunity loss of not investment in better instruments. If his expenses increase in future, then he can get more value out of it.
But considering his natural annual spend of 4-5lpa, taking 2.5LPA ulip policy( which rm generally asks) for paid infinnia wont make sense.
on the other hand ULIP can be good for those who are planning for insurance anyway. Someone who can spend atleast 8-10L can benefit from higher rewards rate.
Hope you @S S V Wont take it personally.
