Other than reasons of lack of transparency and complicated structures, a high exit load—charge levied for early exit—is what makes traditional bundled life insurance plans the least favourite among financial planners and Mint’s personal finance team. In fact, from data on persistency—which is the number that shows how many policies are renewed year after year—it appears that even customers have a change of heart and end up surrendering these plans despite the painfully high exit barriers.
Nine big financial changes that you must watch out for in October
Read More
