I am increasingly convinced that insurance (specially the investment variety) is a super complex product. There are so many ifs and buts attached to the product. It could have been otherwise so simple to understand and buy.
With the current product structure, it is just not possible for a layperson to understand and evaluate the product and make an informed decision. And on top of it, there are tax laws.
Well, I guess there is no point complaining. We will have to learn to navigate through the jungle.
Recently, I received the following query from a reader. It is about surrender value taxation of a life insurance policy.