LIC International Fortune Builder Plan Review

LIC International Fortune Builder Plan Review

LIC International Fortune Builder is the Unit Linked Insurance Plan (ULIP). And many people ask me about its review so let us review this plan.

LIC Fortune Builder is the ULIP Plan and I am not very much fond of ULIPs because of their higher premium allocation charges and various other kind of charges like mortality charges and many other charges.

What is the main problem with ULIPs is that, they charge heavy premium allocation charges and at the end very less goes towards long term investing.

Another main drawback of this policy is that, it charges 5% premium allocation charge every year from your premiums. While on the other end, mutual funds have 0% Entry load so 100% of your money goes towards long term investing to buy units.

This 5% annual premium allocation charge looks small at first look but if you calculate it with the compound interest calculator than you will realize that how much wealth you will loss in the long run.

So Which is the Good Alternative to LIC Fortune Wealth Builder?

Well, in my opinion you should never combine insurance with investments. The following is the best ever combination to build wealth and protect your life also.

Term Life Insurance + Equity Mutual Funds

The above is the best combination in my opinion. To cover your life, always go for term life insurance plan while to build some long term serious wealth, always go for equity mutual funds via SIP route.

I hope this clears all of your doubts about this policy. Remember, that,

Insurance + Investment = Bad Combination…!!!