Mis-selling trap – Why ULIPs are not for senior citizens
Last Update Date: 06-10-2026
Published by Business Insider India
Abhishek Kumar's role: Quoted
Abhishek Kumar explained that ULIP charges are concentrated in the first five years, so leaving after the lock-in hurts, and said retirees should question the need for life cover and note that these plans do not provide regular income.
More of Abhishek's views on insurance
The article looks at why unit linked insurance plans are often mis-sold, especially to senior citizens. It covers high first-year commissions, common sales pitches that compare them with bank deposits, the drawbacks of mixing insurance with investment, and the 15-day window to cancel a policy bought by mistake.
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Mis-selling trap – Why ULIPs are not for senior citizens