ULIPs are not that bad..

So our mr. LazyRaam bought some insurance policy to save tax. This was for the financial year 2006-07 (April 2006 to March 2007). As usual he did not have time to look for the options. So he approached one insurance advisor and bought some policy at the premium of 30,000. The important thing for LazyRaam was that he was getting the benefit of 80C. After paying the three premiums of 30,000 each his total portfolio stands at 60,000 as of now. LazyRaam is furious he invested 90,000 rupess and now it is worh only 60,000. This is the worst policy and since he has already paid the required 3 premiums (2006-07, 2007-08 and 2008-09), he should surrender the policy. This is the story of every person whom I know. But LazyRaam should hold his horses..