Five Things That Life Insurance Agents Say


Life insurance is the noblest form of financial instrument that hedges the financial risk associated with a person’s life while reimbursing a significant sum of money after unfortunate event such as death of the insured.
insurance-agents

Truly, this instrument should be looked upon as a boon to people, especially breadwinners who have dependents. Yet, these products are not liked or readily bought by many. The reasons behind this shortfall is the false promises and deceiving measures adopted by Insurance agents to sell such policies.

If you have been approached by any such agent, and are facing difficulty while purchasing a policy, then here are the five insurance buying tips that you should look out for.

  1. Bonus is Guaranteed
    Well, this is an overstatement, or perhaps a pseudo promise that agents make to prospect buyers while selling life insurance. In reality, bonus is granted by the insurer to the policy holder once in a year, and its amount varies as per the sum assured. It may not be granted every year. However, agents assure such false guarantee to buyers.
  2. There is no Commission for this policy
    This line is often used by agents to lure the buyers into purchasing a policy. Truth to be disclosed, an agent earns around 10 to 15% commission on every policy sold. So, do not fall for this line. In the end, your premium will be the reason for his salary.
  3. It is home loan insurance too
    After reading numerous insurance tips, you should be aware of the difference between home loan insurance and life insurance. Then, why mix the two together and befuddle your mind with agent’s sales pitch?
  4. You need a Life Cover Always
    Be clear with the definition of life insurance. It provides financial compensation to the nominees or dependents of the insured. If you don’t have any, then avoid buying such policy.
  5. It is the Best Way to Save
    Get a better market view; insurance products do not guarantee double-digit returns. If you want to save, invest in mutual funds, bonds, fixed deposits, or capital market instruments. Life insurance offers steady returns with protection for life, do not mistake the sum assured with assured returns.
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