Now that a slew of new life insurance companies are planning an IPO I am being asked to write on the following topics (for a fee of course):
- How ULIPs are now better than mutual funds
- How life insurance commissions are lower than mutual funds
- How ULIPs can be cheaper than mutual funds
- How the switching option in mutual funds is an amazing option for debt investments
- How classic endowment is one of the best instruments for debt investors
- How IRDA has made ULIP very attractive
I am wondering what to do. By refusing to write what the industry wants, I am missing all the money making opportunities (who does not like money after all). I was recently asked to attend a meeting (for which I was being paid on time spent basis), I had to have lunch there (one more boring 5 star food I presume) and do a blog post on my blog (Of course, I was not being paid for this). See how a post is free? I was not being paid for the post, right? I was just being paid for 2 hours spent with one of their CXOs.
Felt like Sebi’s ‘arms length’ requirement. I was being paid for time spent (and reasonably well I can tell you), was being given good food (their view, not mine)…and I had to do a ‘free’ blog post. After all they had to live within the spirit of law. So if one of the members of the Board of Directors asked, the MD could proudly (and correctly) say “sir we did not pay ANYBODY, ANYTHING for that blog post on Subramoney.com”. Completely true in law. Not true in spirit or spirits. If I had taken the mandate I too could have said…”I did not get paid for writing the post”.
If you asked me ‘Did I get anything from the client at all?’ and I would have to say…
well, er..er..I did a consulting on a one-to-one with their CXO…in Hotel Leela, Goa….bill Rs. 36,000
2 nights stay for self and wife, at Leela Goa (including all the food n drinks) Rs. 58,000
Air fare 2 people J class Rs. 30,000
Miscellaneous expenses, small gifts, etc. Rs. 10,000
of course they will not pay me ANYTHING – not a penny – for writing about their products being Noble or that their forthcoming IPO is a great buy at any price.
I am wondering what to do….please help me with your comments 🙂 ..I cannot share the dates with you…
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