Dear All, It has been frequently observed that rediff & personalfn have always been criticising ULIPs. Here also they have mentioned that the commissions earned on ULIPs is 40%. I throw a bet now to personalfn website and the author to show me any Insurance Company who pays 40% on ULIPs. If they do so, I will stop selling ULIPs to my clients, as I am a Life Advisor. And if they cannot show me one, then please write an apology article for misguiding rediff readers.
RE:What commission does author gets to write this article?
by NaveenPrasad Tirumalasetty on Jul 20, 2007 10:43 PM Permalink
I am pretty sure that ULIP products earn whole lot of commission. One of an agent from a big bank told me that if i invest 1 lakh in their ULIP, he will be getting 8k commission and in that he said he is going to give me 4k.
RE:What commission does author gets to write this article?
by Web Monkey on Jul 21, 2007 06:11 PM Permalink
First of all you are not a "Life Advisor" you are an Insurance Agent. Advisor doesnt get commissions. And you are not advicing on "life", you are just interested in selling "insurance" and getting commission. I understand your ned to position yourself as something better than an "LIC agent", but dont mislead people.
Secondly, it is well known that the major chunk of ULIPS go into commissions. If it is 20% or 40%, it far higher than any form of investment. Even a 5% commission is too high for any form of investment.
Take some guts and reveal the first year commission you are receiving. Take this as a challenge.
RE:What commission does author gets to write this article?
by brijesh taparia on Jul 29, 2007 11:03 AM Permalink
Now this is a really hot discussion !!!
a few facts as i deal with Relation Ship Managers Regularly. Take a close look at the Reading Material... ASK FOR THE THE CHARGES with the Product or More specifically the Premium Allocated to the Funds.
RE:What commission does author gets to write this article?
by s s on Jul 20, 2007 07:49 PM Permalink
Dear Friend, Why don't you start advising people and take a salary instead of the comission what you presently take. That would force you to give fair advice for your service of advice. You should not call yourself an advisor because what actually you are doing is canvassing people to buy your product and the main aim is to make money for yourself through the COMMISSIONS. So let people call a spade a spade and please accept the fact. The truth is always bitter you know. Sony
