Third in this sad saga of a lousy salesman.

“Subra I wish to pay Rs. 60,00,000 as premium for a life cover of Rs. 6 crores – Rs. 4 crores for me and Rs. 2 crores for my wife. The beneficiary should be my kids.

Me: Noble thought – glad to meet you regarding life insurance. It rarely happens.

C: Yes, yes I deal with foreign bank -and they have been telling me this, that is why I arrived at this figure..

Me: Is your wife dependent on you”

C: Partially maybe.

Me: Are you dependent on your wife, financially?

C: no of course not.

Me: So she does not need life insurance, correct?

C: Yes..according to what you say. However a foreign bank has been asking me..they also told me about a policy for my wife.

Me: Do you have any loans, ….etc.?

C: No. However i have not found a bigger house – may buy an extra bedroom!

Me: Take a term insurance – this will cover your daughter’s education. Your wife will continue in her job…take a pure term life insurance – it does not mean it is easy to buy term life insurance.

C: Oh i thought you bought term just on price – I was seeing it on google yesterday. By the way how much will a term insurance cover of Rs. 4 crores cost?

Me: Please listen, I will tell you how to buy term!

Simple things are not easy to do – that is all! Well it should you cost about Rs. 40,000….will check and tell you.

Just then Subra’s boss the Business Development Officer walks in and meets the customer…and hears the whole story and tells the client:

“Sir of course you and your wife need life insurance, and yes the premium amount is right…it is Rs. 60,00,000 for a cover of Rs. 6 crores…Subra is forgetting that the ULIP lets you combine the 2 and saves you a lot of trouble of tracking too many documents, nav, etc…..”

and sir May I have your email id and cell number please?


God bless my boss. He puts food on my table.

PS: I am currently unemployed…as always….:-)

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  1. Thats how a typical Subra article – you’d not understand anything but a lot of people would comment like they got everything out the blog. “so well said” “another eye opener” etc etc 🙂

    I recently bought the “retire early invest 40 a day’ and found that some of the recent blogs are almost a ditto copy of the book pages . he he

  2. Total pinprick your boss…fissssh…sab hawa nikaal diya…
    LOL…No wonder you are unemployed 😉
    If you were still employed, I can only imagine what darkness the current readers of subramoney would still be in….

  3. If I am not wrong than in recent Article Subra Sir told that he draws a Salary of Rs.18,00,000 p.a and now he is telling he is Unemployed as Always. Ahhhhhhhhh.

  4. Fellow Readers who do not like what the Blog is contrbuting to their financial life should simply stop visiting Blog. If we do not like say a HOTEL ,do we go ,EAT and crticize or we search other good hotel and Avoid Hotel which dont serve our purpose.Just because Subra dosent Edit content dosent mean ,we can write anything .

    Lets Remember Birbals Input Here- Better way to make one line short without rubbing it (Unconstructive Criticisam) is by drawing a parallel line .So if we do not like this Blog for lack of New Ness ,Lets Start our Blog ,write every day for over 5 years and give New Thing to Readers .We will come to such blogger .If thats Not the case , lets leave these occasional wide balls

    Subra -Thank You For all Input

  5. Subra Sir,

    Would be great if you can be specific and advise which term insurance one need to buy. May be you can write an article describing some of the good banks offering term insurance.

  6. Sir,

    please give an idea of term insurance plans available in India. What points should one keep in mind while purchasing the same?

  7. Subra Sir,
    This is the first time i am commenting, inspite of reading your blog for 3 years now.. Couldnt control myself .. Awesome article .. Ingenious .. superb 🙂

  8. Subra Sir @ his best. Doesnt matter if he is earning 18LPA or 18CrPA. The advice in these blogs are, as always, ‘priceless’.

    1 hint for ppl who did not understand : This blog is more important for you than for the one who did.

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