This article was making the customers/prospects panic! Most of the cases here are not true! The insurence agent is facing stiff competition from different companies and find it very hard to get a business smoothly. Almost all customers are aware of discounts offered by some agents in the market and they ask for the same. In a way, the agent ends up in paying his/her first year commission as discount (15 - 20%)! The agent will have to wait for the next year premium to get the 5-7% amount, as his/her profit - This is the actual scenario.
I am not commenting that the customers should blindly take a ny plans. They should analyze the plans, understand the need, and then go for it - Most of the agents from LIC are capable of explaining the plans to the customers.
Agents or advisors are not cheaters - eventhough there are some miscreants in all departments of life!
