No commission to bankers too!

He who sells more gets more commission. This is always true for any sales program, unless the product is a monopoly product and the manufacturer could not care.
So when a small distributor of mutual fund (or life insurance) compares himself to a big distributor, it is unfair. If a small distributor (let us say he [...]

LIC’s problems

Many people ask me why I suggest New India for medical insurance, but never suggest LIC for life insurance. The answers are simple. Medical insurance is a simple product and the probability of getting a good interpretation of the policy is quite high with New India. In fact if you have not lied in the [...]

Financial security comes from net worth. Net worth from smart investing

For many generations we have believed what we own (i.e. items on which we are allowed to put our names) are our assets, and monies that we owe are our liabilities. It took Robert Kiyosaki to tell us that assets that put money in our bank are our real assets – equity shares, rental property, [...]

Corporate Governance and Sales Practices

Indian market today is a very difficult market to please. Is the end client really difficult to please, I am not sure but the distributor is very difficult to please. And the last mile connect is the real tough nut to crack. Whether it is your cable television provider deciding not to give you UTVi [...]

Life Insuranance Industry: Ails

What ails the life insurance industry today? Well the biggest worry is lapsation. They have other worries too – like the Swarup committee report, the small ticket size, the poor public image, the lack of communication skills in the sales force…but clearly the biggest worry is lapsation.
It beats me completely as to how an industry [...]

Do not need life insurance…

http://www.subramoney.com/book-written-by-me/
Surely when somebody approached Mr. Dinanath Shinde and Mr. Afzal Maknejia for buying life insurance, they must have said:
a. I do not need life insurance or b. At my level I cannot afford life insurance.
Agents hear this day in and day out. Little did they realize that a drunk Nooriya Haveliwala would spring from somewhere [...]

Retire Rich Invest Rs. 40 a day!

About the Book : – To most people retirement is an age. It of course depends on your health, the company you work for etc. However in the first chapter I would like to introduce you to the concept that retirement is an amount of money! After all, if you have that magical amount why [...]

I can manage better than my fund manager…

A few people I know keep comparing themselves with fund managers – and can arrive at fantastic conclusions. Here is a case in point.
One female – nothing to do with equity markets in her professional life – was a sitting duck for many people selling financial products. To the credit of the salesmen she had [...]

Risk: Do not nominate inaccurately …

this article appeared somewhere…
Don’t take this risk with insurance
Insurance is a risk cover – don’t risk the nomination part.  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 [...]

Term life insurance?

Mr. Narendra called me to ask about his life insurance. Like all smart yuppies he knew everything about life insurance but just wanted to check out something.
He had a life insurance (term) from ‘A’ life insurance company. His sister in law was the agent, so he had taken it from them. He was paying a [...]