They are: 1. Health insurance: On seeing the high monthly outflow you will sure loose your health! 2. Mutual Fund: Its mutual investment is yours fund is theirs. Lose will be yours profit will be theirs. How mutual it is? 3. RIP - Its not ReInvestment Plan, its rest in peace.
Due to the companies sales trategies, people are under issured. They never talk about term policies at all. IRDA does nothing about about it because LIC will have a problem?
This happens in India cos not all of the so called insurance agents know how to do a financial planning. More than need of the client they are trying to meet their targets. Also people who buy do not have the time or patience to know what they are getting into. All they want to hear is that how much money I will get in the shortest time possible, with minimum premium.
Re: Do not generalize.... there are genuine people also
by pradeep agarwal on Oct 20, 2014 06:48 PM
Most are frauds who wants to dump the lousy products on unsuspecting customers.
Bullseye. You are spot on in this analysis. I have always had this questions and your analysis seems to be on what I too think of this insuarance policies. Irony is we are scared lot and atleast buy a term insurance
