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POSTED BY ON July 17, 2014 11:06 pm COMMENTS (2)
Need your guidance on an investment decision. My wealth manager from ICICI has been very strongly recommending that we invest in ICICI Elite Wealth II. His argument to justify the investment is the Elite schemes are designed to take the tax advantage of ULIPs but the charges etc are much lower and so they work out very well.
We’ve already invested in ICICI Elite retirement solutions scheme. Also have investment in a few mutual funds like reliance close ended equity II, ICICI pru value fund, DSPBR equity fund, HDFC top 2oo, BSL sunlife banking and financial services fund.
Please help me decide if ICICI Elite wealth II makes sense and his argument is right. Super confused as everything I read says ULIPs not good but he’s pretty convincing 🙁
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Please read the terms & conditions OR scheme Information document and things will be crystal clear for you to convince him that it is not good.
Idli and Sambhar are cooked separtely and never together same way Insurance & investments should be not mixed. Both serve their purpose when done separately in dedicated manner.
PS: pardon my analogy.
He will be pretty convincing…. His job is to convince you….
He will not care about your goals, needs….. His job is to convince you….
He will not listen to you…. His job is to convince you….
He will give all the promises ( who knows will he be in that same position tomorrow)….. His job is to convince you….
So, now you have to stubborn enough to not get convinced to him…. He is selling an ULIP…. you know which is not a good investment product……then why are still thinking of taking it….. Please don’t invest in ULIPs…..
He will get all the perks and bonuses for selling that product for you, but at end you will be sufferer …… so DECIDE