Today had a chance to talk to few branch managers. The conversation veered to some LIFE INSURANCE policies. After the meltdown the insurance people abandoned the ULIP products all together and came with SAFER products.
The plus point is the benefits only kicks in after 60 yrs of age. By the time you will be too bored to chase the scoundrels. Don't misunderstand me, insurance sellers don't lie. But they won't tell the whole truth. The naked truth is there is high chances of you turning penniless
The insurance selling would've been better if left t sellers. But the bosses have come up with a great idea of using the branch infrastructure to sell their wares. The idiot buyers think it's product of the bank bu it's not.
With central government increasing FDI in insurance sector, pressure will go worse to sell. I have known many big time officials who does absolutely nothing but sell insurance. They go untouched and live a happy life, when the others toil.
The same people who says insurance is a tricky product are themselves the top sellers. But then it's another matter to discuss'
Even then it's not the sellers who gets away wth the commission, there are like men of immense wealth who earns in billins as funds flow into his stocks