Life Insurance Corporation is the bigges ponzi scheme of India

Life Insurance Corporation which is the country owned financial unit in India is one of the biggest Ponzi schemes in India. Before going any further in details I would like to tell that a poor person who thinks of investing should go for any scheme like Birla Sun Life Mutual fund where he could go for monthly SIP or any other ways to get that money invested in Indian Post Office Savings but not in LIC. 

Whether you try to get a loan from this institute in lieu of your Bonds they are guided by the pimps or the dalals  or agents who give you a fake assurance and with your signature provide loans to other people in your name. They are a total group of pimps in the country who are from the local machinery and most of the time people in this unit are employed from the nearby areas. They are aware of your social status through their agents and if you try to take a big LIC worth 5 or 10 lakhs they try to put you into the realm of many sinister ways so that you can miss the LIC premium. 

Once, it is broken you remain on the mercy of the agents who again do the renewal and in the meantime give fake loans to their people such as shopkeeper or maybe any traders and thus the person who is the owner of the bonds gets less return subsequently once the tenure of the policy gets over. Also, if the person who may die and leave a good amount in LIC will certainly not see how there is the discrepancy done in paying the amount to the nominee of the deceased.  

In this way, one can understand that it is better to discard such state-run machinery and invest in something worth such as bonds of Gold or IPO's along with any other investment options which gives return worth the value of Gold. Also, understand the behavior of the employees who only laugh on you once you enter and leave the premises and for them, you are merely an object of virtual satisfaction across any ages and in this way the Insurance policy gives you a headache of which the amount can be used rather a judicious way to get higher return in life through private investment options as the Government Organizations from school to college and financial institutions are losing its credibility.