Comments on: How to Sell ULIPs to Unsuspecting Customers

By: pratap singh

pratap singh — Fri, 23 Jul 2010 04:03:49 +0000

This is already known to me. Ulips are beneficial for them who want to creat wealth in long term not in short term, say in 5-8 year. Being a financial advisor i suggest my customers to go for a proper financial planning and I personally do their financial planning.

By: Ranjan

Ranjan — Sat, 08 May 2010 05:31:10 +0000

@Murali. There are 3 million Agents out there. I doubt if it will be possible to police them at this blog. I’ll leave it to IRDA/SEBI

By: Murali Mahadevan

Murali Mahadevan — Fri, 07 May 2010 12:27:16 +0000

It is high time these agents are booked for cheating under section 420. Naming and shaming such agents by publishing their name and address on this blog is also a good idea.

By: Ranjan

Ranjan — Mon, 03 May 2010 08:32:54 +0000

Thanks for sharing this, Rajiv

By: rajiv

rajiv — Sun, 02 May 2010 06:50:37 +0000

I am working for a well known & leading private sector bank. We are forced to sell ULIP only for the sake of our Job. If we dont sell ULIP – they ask us to resign. In our bank – all branch staff has to sell ULIP & atleast of Rs.50K in a month. I know ULIP is costlier compare to mf and only plus point is Life Cover which MF is not offering. However is generating more revenue for Insurance Co. & Banks. So I suggest there should be strict policy on charges on ULIP.

By: Ranjan

Ranjan — Wed, 03 Mar 2010 05:34:31 +0000

@Mukund Thanks for the insights. These really are The Issues

By: Mukund

Mukund — Tue, 02 Mar 2010 19:07:27 +0000

ULIPs have been mysteriously packaged.I think Indians have been confused that their wealth gets enhanced by buying insurance product. Ideally two things need to be seperated what is cost for protecting my life & what is cost for managing my funds.How would this tie up when the money is paid back to me through tax effects.How am i paying for performance of good & bad managers.Unfortunately IRDA has 1500CR but hardly spends money for educating consumers & seems more pally with Insurance cos.So enjoy the great Indian rip off.

By: Ranjan

Ranjan — Sun, 21 Feb 2010 16:17:34 +0000

@Prabakar Agree. But the customers also need to take responsibility.

By: Prabakar

Prabakar — Sun, 21 Feb 2010 16:10:20 +0000

Yes customers are taken for a ride by certain companies, I don’t understand how it is been cleared by the IRDA.
Its high time that the regulator gets tougher and set the rules on various charges.

By: srinivasu

srinivasu — Thu, 21 Jan 2010 05:05:41 +0000

true.
sales people were told by shame less bosses(forest monkeys, who jump from one co/branch to other) to find such clients, known as party.
i am also one of them.
thanks for this service.