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Satirical Post by an redditor about ULIP and infinia
- Thread starter MONEY
- Start date
via instant online irrevocable transfer
Regalia Gold can be obtained in many other ways with relative ease.. do some research...
pranjal1984
TF Select
Mine was done by Musu Bhai's associate maybe to show his power and influence. Ok you need LTF. Just wait 2 secs. OK I have made it LTF and immediately I got service request from HDFC. I confirmed the same over mail. For normal cases, customers having HDFC salary accounts are easily getting RG LTF.
Forgot to elaborate on this point.. what I got in return...
DIrectly:
1) Infinia FYF
2) thru my contacts, realtionship and charm - Got Infinia Metal LTF
3) Imperia status forever with Lifetime 0 AMB balance , two SB accounts.
4) Free locker from next year onwards ..( edit as on 30 June 2024 , I got my free locker already ✅)
Indirectly:
1) Spent Rs 0 using normal HDFC CCs because Infinia Metal is my first ever HDFC CC.
2) Freed up my existing TRV of 15 Lakhs and invested elsewhere.
3) Saved a minimum of 5 years in time and avoided a total of 30 L spending on lowly rewarded HDFC CCs (had I gone thru traditional upgrade method)
4) Constant begging with HDFC for limits and upgrades.. I highly value this point because I never like begging , instead, I want them to beg me for my business.. Now I get every service door delivered or digitally delivered to me..
For the record I never visited branch... ( only once that too on my own will , because I want to stretch my legs for about 50m...)
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Thumb rule - buy ULIP if it fit's your investment and not biased due to card.
Understand some facts like
Drawbacks of ULIP -
1. Lock in period
2. mortality rate - don't ever but at high age
3. Have to read doc thoroughly for hidden charges
Advantages -
1. Some like Aditya Birla ULIPs can beat many mutual funds ( subject to plan and market). But generally due to additional charges especially at higher ages suffer a lot from mortality rate and hidden charges.
2. Tax Saving ( Not just 1.5 L exemption). The returns are tax free too if they meet certain criteria. Capital gain (10%) saved. But beyond that, if you are on border of 50L, or 1Cr. This amount may be the difference whether surcharge is levied or not or amount of surcharge. And believe me, surcharge is not applied on amount above 50L. It's applied on total tax paid. 49L guy would be make more in hand than 51L guy based on it ( there are exceptions too)
Also ULIPs are for long term. Don't expect short term gains from it.
Understand some facts like
Drawbacks of ULIP -
1. Lock in period
2. mortality rate - don't ever but at high age
3. Have to read doc thoroughly for hidden charges
Advantages -
1. Some like Aditya Birla ULIPs can beat many mutual funds ( subject to plan and market). But generally due to additional charges especially at higher ages suffer a lot from mortality rate and hidden charges.
2. Tax Saving ( Not just 1.5 L exemption). The returns are tax free too if they meet certain criteria. Capital gain (10%) saved. But beyond that, if you are on border of 50L, or 1Cr. This amount may be the difference whether surcharge is levied or not or amount of surcharge. And believe me, surcharge is not applied on amount above 50L. It's applied on total tax paid. 49L guy would be make more in hand than 51L guy based on it ( there are exceptions too)
Also ULIPs are for long term. Don't expect short term gains from it.
At a later time .. for sure ..
I will be getting very busy in the near future... will try to spend sometime here
Anyone new to ULIP must understand the instrument and if it make sense its fine; ULIP route is 10x better than FD route do your own calculations.
Also to add if anyone considering ULIPs do your research around charges specially "MORTALITY CHARGES".
At the end of the day its your money and your decision. Long story short listen to SSV sir and read between the lines you will save lot of money and time.
Also to add if anyone considering ULIPs do your research around charges specially "MORTALITY CHARGES".
At the end of the day its your money and your decision. Long story short listen to SSV sir and read between the lines you will save lot of money and time.
I think you got the right perspective... we need to give something to gain something.. this is business...
As Banks exploit customers, we need to exploit them from our stand point of view...
I will explain all this , in my ULIP update with numbers ( facts) in about 45 to 60 days in a sperate thread...
Btw, Just out of curiosity, which ULIPs in your views are performing best? I have seen Aditya Birla ones performing well in long run
HDFC be like - Yahi tak tha jo tha