Don't invest only for free insurance, opt for a fund based on performance

The introduction of long-term capital gains tax (LTCG) on equities in the latest Union Budget gave unit-linked insurance plans (Ulips) a boost. Insurance agents were quick to push the latter product, highlighting that investors would not be taxed if they invested in a Ulip. To counter the insurance sales pitch, mutual funds (MFs) have recently started sending mailers to investors, informing them of the free life insurance cover on offer if they opt for a Systematic Investment Plan (SIP). The free life insurance on SIP is not a new offering. It’s been around for a while but is now b.....

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