Mature News
Understanding the jargon
Reading any statement – whether of a bank, a mutual fund or a unit-linked insurance plan (Ulip) – can be a nightmare. Often, the jargon can stump a customer, Nitin Desai discovered.
Desai’s first Ulip statement showed that while he had invested Rs 50,000, only Rs 35,000 had been used to buy the units. On approaching the insurance agent, he learnt about the premium allocation charges
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