‘Never a borrower or a lender be’ – very good advice especially if you do not know to whom to lend. And absolutely true if you do not know how you are planning to repay.

However given our propensity to consume TODAY out of our future earnings – we will borrow for consumption. So telling a kid..do not borrow to buy a house, car, European Holiday..seems to be futile. Not that I have anything against borrowing – Hdfc needs to pay me some meaningful dividend …and I need to live with that dividend.

What does this have to do with ULIP? Well equipping people to buy ULIP is to me an IMPOSSIBLE task. This is simply because by the time you finish teaching them about what to look for in a ULIP they can make a change or in the features and make the learning useless.

Well Moneylife’s Raj Pradhan has this to say about what IRDA should do about ULIPs…read on…


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