LIC wealth creation plan!

Here is LIC trying to sell a ulip plan for creating wealth. Then Mr. Pranab Mukherjee calls up and says “buy ntpc @ 214” so Lic says..ok sir.

Wealth for whom? Govt of India? UNit holder?

And what is IRDA doing this. Let us say if such a deal was done by Tata, Birla, Reliance, Kotak, Hdfc, Icici, – all of them run various businesses would the media have kept quite? Would the Ceo of Tata Aig Life insurance have agreed to buy Tata Steel shares at a 10% premium?

The whole thing sucks…..

PS: I have nothing against ULIP :). It is only illiterate investors not knowing what they are buying and regulators not being to do anything against the big bully.

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4 Responses to “LIC wealth creation plan!”

  1. i.e. why my funda is stay away from sarkari stuff 🙂

  2. Ravinder Makhaik on February 16th, 2010 at 5:48 pm


    When the government is around – one has no option but to :Shut Up

    After all its your and my government.

    Besides – Do believe me

    When the governments hounds you – one does not know where to look for cover.

    I have faced such situation so its from the horses mouth.

  3. Subramanyam ji, what do you think abouth this article by ET

    Top 10 Fund Houses for the quearter

  4. Subra,

    If LIC does like this more often then automatically the private players will over take them right ? I mean the returns will suffer and i guess even ordinary people will look at return (more than just the brand of LIC…)

    Will market automatically react… and force a stop for this…Free market ?

    Just a question that popped up in my mind..

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