Money-back policies may sound like a great deal, but are they really worth it? In this video, we dive into the world of insurance and discuss why money-back policies may not be the best option for you. We’ll also look into solutions and alternatives to consider when it comes to investing in insurance.
Additionally, we shed light on how agents sell these policies and what to watch out for when dealing with them.
So before you invest your hard-earned money, watch this video to learn more about the
downsides of money-back policies, the alternatives, and how to navigate dealing with agents.
To help you plan your finances, we have also provided some useful tools that can assist you in making informed decisions.
Insurance planner - https://recipe.finology.in/self-service
DOWNLOAD the sheet mentioned below to use the Endowment IRR Calculator -
Steps:
1. Open the sheet
2. Go to the File menu
3. Download - Microsoft Excel (.xlsx)
https://docs.google.com/spreadsheets/d/1McXg4LTz0PFvfiihBWKEHxorJSfnaRGa/edit?usp=sharing&ouid=112550160787032652560&rtpof=true&sd=true
00:00 - Introduction
02:08 - This is how they sell you wrong insurance
07:10 - Why are these policies bad for you?
07:45 - What is an Endowment policy?
08:05 - How are Ulips different from Endowment policy?
08:38 - Reality of insurance coverage
13:05 - Do this before buying any policy
16:00 - Reality of Bonus in money-back plans
16:50 - Reality of 0 tax in Money-back policies
19:14 - Always buy this Insurance plan
19:30 - Become financially smart with these tools
20:47 - Conclusion
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