Archive for the 'Life insurance' Category

Insurance Mis selling?

I did not realise how big is the menace of mis selling till I spoke to a few bankers. Given the aggressive targets that these kids have, misselling has reached enormous heights. I would dare say that almost all the selling is mis-selling unless it is term insurance!! Not sure how many people in the […]

Insurance – when things go wrong….

  Just because one is angry with an insurance company, one cannot decide to live without insurance. Not just life – health, car, event…….it is an essential tool of business. Here are some reasons why you need insurance. Insurance – Life or General is largely about answering some questions like “What if….goes wrong”? The fundamental […]

What can IRDA do?

Too many times we have screamed that the BFSI space is customer unfriendly….let us see what we can do about it. More importantly, what the IRDA should do: 1. They should be allowed to sell ULIP ONLY to a person who already has a term insurance of Rs. 10,00,000. 2. When they are selling to […]

Of course you need life insurance!! Please give me your email id…

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 […]

Investment projections and illustration…

  Clients regularly ask for “How much will my investment become in 22 years?” Really, I have no answer… In analyzing the possible rate of return of either a new or existing life insurance policy, and comparing it to possible alternatives, it is first important to understand how inherently unreliable, unnecessarily exaggerated, confusing, difficult to […]

Documentation mistakes in life insurance!

Don’t take this risk with insurance – the mistake of nominating wrongly! Most people name their beneficiaries when they buy the policy, and then never give the subject another thought. That could be a mistake. Good consultants recommend that you take the time to review your policies’ beneficiary designations periodically (annually or whenever there is […]

Understanding statistics or maths means NOTHING

I have always been of the firm opinion that it is easier to understand stats or maths applications than to understand business. Or did I contradict myself? Well, well, if you did not understand cricket BUT understood statistics you will come to 2 WRONG conclusions based on YOUR understanding of maths and stats. 1. Inzamam […]