Answers: Well First I will tell u the Details ( not the selling ones but those which an investor should know)
See it is a 10 yr plan beside premium payment for 3yrs
the charges ( premium allocation charges) are
Ist Yr - 10%
2nd Yr- 4%
3rd Yr-4%
On the difficult side, now the crucial USP which BSL people put in the picture is that they will give u a minimium Gurantee of NAV ( the maximum NAV of 88 months starting from 17th March 2008 )
This NAV will be locked for u and after that if NAV decrease u will get the LOCKED NAV and if it increase U will get hold of the Increased NAV.
BUT THE FACT IS ANY PRODUCT WHICH GIVES U GRANTEE WILL GIVE U LOWER RETURNS, AS SUCH THIS HAS ONLY ONE FUND OPTION .
Now some comparisions If u compare Birla Platinum Plus with Birla Classic Life u find contained by there Illustrations that the old age value of Birla Classic go comes to be at par or more than Birla Platinum Plus ( I compared the illustrations given by birla itself)
THUS if u want a ULIP compare their Illustrations table and thus agree on,
If u are looking to invest Then Invest in Mutual Funds ULIPs are not investments. Thanks
Asnwer is simple -Do not mix Insurance and Investment.
Keep them apart.
A ULIP is a mix of investment and Insurance.
You own other options also.
I studied so frequent ULIPs in ultimate one year. None of the ULIP is best due to the charges.
Insure through Term insurance & Invest in Mutual Fund
ULIP have charges which with hurt you when you know the amount that go into your account within the first 3 years. they are costly and minimum of 10 years is required to get the returns.
All ULIPs are almost impossible to tell apart. Cater for the charges and and other features given and then invest. No No ULIP is not investment - It is INSURANCE.
Thx