When a life insurance agent tries to coax you into buying a particular life insurance scheme and in the same pitch offers to give back to you a certain percentage of his commission, you should run away as fast as possible. Double your speed if the particular policy in question remotely resembles a Unit Linked Insurance Policy (ULIP).
Commission kickbacks are illegal. You might make a few thousand rupees in the very short-term, but if you choose a policy solely for such kickbacks, you might as well kiss goodbye to several hundred thousands of your hard earned money over the long-term.
Tip Tuesdays is an initiative to share practical personal finance tips — every Tuesday. I’d be delighted if you could share a tip or two from your own experiences. Drop a comment or use this form to submit your tip. And, as always, do spread the word if you find this useful.
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Right Vinaya…
Normally some LIC agents had this offer of 1 to2 months premium tobe paid by the
Agent…
Keep the blogs flowing.
Regards,
Girish
i will like to get the tip regularly. can i??