Recently I went to the bank to open an account, There one of person advising to open to SBI Smart Wealth Builder saying the is good investment cum insurance policy with better tax benefits compared to others.
Can yo help me to understand this policy. Is it better to invest or not.
Deepak-It is typical ULIP plan where charges are as high as around 10% (including all) in initial years. Also, ULIPs usually comes with lock-in issues and hard to track the returns. Considering all these factors, I suggest you to stay away from such dangerous plans. If your concern is tax saving, then you can do it by EPF (default), Term Insurance, PPF or ELSS (with long term view of investment).