X: Mr. Subra may I take half an hour of your time?

Subra: Sure!!

X: Sir I represent     life insurance company….and would like to talk about my products. The one perfectly suitable for you is a personal pension plan.

Subra: Why do you think I need a pension plan?

X: Sir when you retire you will need a pension…the ONLY way to get a pension is to buy a pension plan.

S: Ok, tell me the details…

X: Sir you will have to pay a premium of Rs. 100,000 per month for 18 years and you will then get a pension of about Rs. 18,000 p.m. for the rest of your life.

S: This looks very poor, does it not? by the way is it guaranteed?

X: Yes sir, this is a ULIP and the pension is fixed. #

S: Just imagine if i kept Rs. 12L * 18 = 216L Rs. – even assume that it DOUBLEs to say  4 crores…that will be the corpus. If i were to keep it in YOUR OWN BANK I should be able to get Rs. 40 lakhs a year. This is far superior to Rs. 18000 a month – which is less than Rs. 216,000 a year that you are offering.

X: Sir this is the minimum that we will pay as a pension – it could be more. #

S: Oh is it an indexed pension?

X: No sir it DOES not invest in equities *

S: How will the pension increase if it does not invest in equities?

X: Sir the debt investments are likely to go up in value as time goes by….&

S: If I do not buy a pension plan now, can I not buy a plan when I wish to retire? say 10 years from now?

X: No sir it makes sense to grow the plan right from now – as soon as possible. &

S: No….frankly what you are saying makes no sense to me…

X: Sir 5 people in your office have already taken this plan and it is our largest selling plan…..

S: boss mujhe kuch nahi lena hai….bye, thanks.

Lies, lack of knowledge, sales pressure: &, * # ——-lol

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  1. The ppor guy is trying to make some money for himself, the problem is not with this guy, the problem unfortunatally is with the most respcted fellow in indian Finance field, who asks his minions to do this,

    Remember Cancer fund with HDFC mutual fund,
    or HDFC crest which is pitched when a client asks for fixed deposit.
    Or the RM asking you to buy gold @ 10% premium to market price..

    Buyer beware…. is that really possible today?

  2. Hi Subra

    I have some liquid cash sitting on my savings account and I need your help!

    a) My wealth manager says that I should not invest in equities now (sensex 19.5K) and wait for a lower point. He believes that I may not get that much of an upside from now on. Do you believe this is right strategy. If yes, read (b)

    b) He says I should park the money in a Debt Short term fund. However he belongs to a particular bank and recommends that I invest in the bank-name-short-term-fund only. I checked public sites such as moneycontrol.com and value research.com and both sites say that this fund is not great. If these sites are correct, then how should I choose the best fund? I dont know whom to trust – the research sites or the bank’s advisory.

    Thanks for the help!
    Mrs Iyer

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