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

    Subra,

    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
    http://economictimes.indiatimes.com/articleshowpics/5575407.cms

  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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