No insurance company pays more commision to ulip products...traditional policies are given more commision. So the agent will surely promote traditional policies. its the customer who asks for ulip policies hoping to get more returns. also no insurance company charges 30% on 2nd yr. it was company like LIC which gave false promises to customers in their money plus policy and IRDA has warned them. also bajaj aliance was warned by irda last month to stop their ulip product for misseliing. so irda its doing its duty properly. U can easily pass competitive exams but its difficult to pass irda insurance agent exam. the pass percentage is only 10 to 20 % across india. so there is filtering in giving license to agents of all companies. Its the customers mistake of not reading the product details in the brouchure before signing up. When u invest your money its ur duty to go thru the details before investing.
