Hi
After reading various financial planning blogs, there is a consensus that all LIC Policies are bad except for Jeevan Amulaya ( Pure Term).
Can someone suggest the best LIC Policy (other Than pure term) among the bad/worse/worst LIC Policies (andhon main kanna Raja).
Why am I asking ?
With the financial year coming to an end and finance deptt. asking for investment papers for availing tax benefits, People in my office are running around like headless chicken and buying LIC policies.
These are the set of people in age group of 24-29, unmarried, no house loan, no PPF, no ELSS. The only contribution to 80c section is their EPF.
I tried reasoning with them against LIC policies but failed. Atleast some are buying 5+ year tax saver FDs. (Even these are taxable on maturity)
Now for those who are desperate to throw their money only in LIC policies what could be suggested?