How much of life insurance do you need? 

Insurance agent: Sir you need 15-25 times your income. As your current income is Rs. 50,00,000 I would suggest about Rs. 7.5 crores of income.

Very good. A 55 year old man is being pitched about 4 crores of insurance (assuming he negotiates). Premium Rs. 3L per month.

How much medical Insurance do you need?

Insurance agent: About Rs. 20L.

Comment: Amusing. He is the father of a budding doctor 🙂

How much accident insurance?

Sir it is very cheap please take it for rs. 3 crores.

This man was having fun with a bank RM who had targets to meet. So after all this conversation he turned to her and asked:

How much is your income:

She said : Rs. 14-Rs.20 lakhs sir

He said: show me a term insurance of Rs. 3 crores, Medical …etc. and I will match it penny for penny….

Of course she did not show up.

Fair offer no?


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  1. Thankfully, my interactions with my bank is limited to the savings/salary account that I have. Earlier, I used to get a call from a new guy every year claiming to be my dedicated RM.. Especially when once I had a big amount lying in my savings account for a few days, it had them salivating at the prospect of some easy pickings 🙂 I guess over time they realized that chasing me was a waste of effort. I have a feeling these guys closely monitor how money is coming in and going out of the account to decide what sort of client one really is

  2. Hi Subra – This is amusing – but I think readers of your blog are bit more mature than the protagonist in your story in handling these type of conversations.

    Equipped with the ‘knowledge to catch fish’, we don’t need sarcasm or quick wit to navigate through this situation. We all know from where to pick up a calculator or two (Pattu sir) and assert why we need how much we need.

    That will also help the hapless RM and subsequent discussions will definitely have better quality and focus.

    What do you say?

    Cheers, Indra

  3. I know one reader who has a personal net worth of Rs. 1200 crores Indra. And I know people with about 1.2 lakhs. Who is my average reader Indra?

  4. I wish I was your average reader, with average being calculated as having a net-worth which is an average of the two numbers quoted above, i.e. (1200crs + 1.2 lakhs)/2. 😛

  5. Hi Subra – I can’t pretend to know who is average reader of your blog. I don’t even know what you mean by ‘average’ – mean, median, mode, arithmetic, geometric etc… you get my drift.

    Also, I did not mention ‘average’ reader. By reader I meant someone who reads your blogs, maybe daily or maybe with lesser frequency. Whatever be it, just reading your blog definitely would make him/her wiser.

    The point of my comment was that we can have constructive discussion with RMs. If they knew better, they will do better. My going assumption is ‘best intention’, fully aware that road to hell is said to be paved with it.

    Hope I didnt get your goat. If I did, will wait for a post 🙂

    Cheers, Indra

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