25 years ago, an LIC agent told my uncle to invest just ₹5,000/yr in a particular LIC policy, assuring him that he would be able to buy any luxury car after the policy matured in 25 years. Yesterday, my uncle received ₹2 lakh as the maturity proceeds
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Vishwa Lingam
The AI Dude in Finan... • 2d
He lost because of inflation. Because a luxury car at 2000 would cost average of 2-5 lac and he was consulted with that belief. But today a luxury car is 20-50 lac and this detail of inflation was hidden.
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