LIC Jeevan Saral plan
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Agents will try to sell out those plans which will give them maximum commission..thats very natural..you will be amazed to know that commission range varies from 5% to 35%according to insurance policies..you will never find a agent who suggests to take a pure Term plan..they will insist on ULIP/Endowment/Traditional plans as these policies offer maximum commission…Be aware,donot fall for the trap of’INSURANCE BHI INVESTMENT BHI’
Agents are doing this for their own business. They get 25% bonus for the first premium. So if you choose term policy then the premium should be near about Rs. 3000-4000 for 10 to 15 lakh coverage. Then they only get 1000 rupees. If they can “sell” you a 5 lakh sum insured policy (premium should be around 25000 rupees), they will get 5000 rupees as commission.
By the way I have both JEEVAN ANAND as well as JEEVAN SARAL policy as to make good relation with relatives(LIC agents).
I also have “term insurance” policy as well.
That is the fact.
I have a chart of bunus rate for LICI agents. So you can bargain with your agent for deducting bonus rate but if everyone will do it then they (agents) will not get their family feeded.Thats true chanchal..one should consider’Term Plan’ for insurance and ‘Mutual Funds’for investment..according to age.
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