What ever money these so called Private Insurance Companies or Mutual Funds give to their agents, it ultimately comes from the pockets of customers. If millions are to be won by simply marketing a product, one can rest assured that there is something fishy in these products. The real worth of these products is much much lower than the marketed price. Sometimes customers have to pay the money only and they never get any thing in return since sometimes insurance companies Mutual funds are run by bunch of cheats who put so may clauses in fine prints which no body can understand or sometimes they just run away with all the money collected and leave their agents to face the music of investors. Astronomical marketing costs simply means that public is being taken for a ride.
I have had so many experieinces of agents trying to seel me NFo's of mutual funds and ULIP's. I think there should be some regulation set up on the percentage that can be given as commission and no freebies....
