Dear Manish

I got just introduced to your blog few days back and found it is good to read. The one particular point I observed in your blog is you are trying to tell that LIC policies/endowment plans and/ULIP are normally not good for public. I am also now understanding it is somewhat true. I am having one policy from Bajaj Max advantage (yearly premium 50000/-) for last 4 years.

And now come to understand that I should close this policy. First 2 year fund was Equity Market Linked and last one and half year I converted it into Bond Fund. But still the return is -ve. I found after analyzing the statement following thing 1. Last year allocation was 96 %, so 4 % gone to company 2. Four type of charges were deducted from my fund (approx 6000/-) for last year. 3. Insurance cover is 5 lack, which is very less now a days.

So the return were still -ve even after 1 and 1/2 year in bond fund. I have made up my mind to withdraw the policy as lock-in period is over. I will make one term plan and rest I will put in equity/Debt MF Direct. I want to understand your view on my understanding.

Regards, Yogesh Bhusari