Actress-cum-politician Kangana Ranaut recently declared that she owns assets totaling over Rs 91 Cr. She also carries a debt of Rs 17.38 Cr. What caught everyone’s attention is that she holds as many as 50 Life Insurance Corporation (LIC) plans in her name.
Commenting on the same, Equities expert Aditya Kondawar says that this is not diversification by any reckoning. “Diversification is proper asset allocation across Equity, Debt, Real Estate, Alternates and commodities (mix as per the needs and understanding). Not 50 LIC policies, 200 stocks, 200 MF schemes, 50 flats – This is not diversification, it is an inconvenience.”
On the other hand, a fan of late stock market investor Rakesh Jhunjhunwala says that Kangna’s strategy of buying LIC policies appears to be a brilliant tax savings strategy. “These are endowment policies that pay lump-sum on maturity. Each policy matures in a different year. The sum received on maturity is tax-free under Section 10 (10D). So, it is like a tax-free pension,” he opines on X.
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