What Does Your ULIP Premium Do?

by Vinaya HS on May 13, 2010

in Finance

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Makes you poor and your agent/insurer rich.

Look what I found in my email.

A job (commission-based) that allows you to be your own boss. Life insurance consultant with LIC of India (part-time or flexi-time). The job involves prospecting, understanding life insurance needs, advising on suitable options and closing the sale. It’s a freelance marketing job with attractive commissions not only at the time of sale but also so long as policy is in force.

For example, let’s assume that you bring in a total of 6,00,000 worth of premium in a year. On an average you will earn 2,00,000 in the first year, 60,000 in the second and third years and 40,000 every year till maturity of the policies. Fantastic earnings isn’t it. The renewal commissions will form a steady stream of income. This is self employment without investment.

In the most happening Bangalore City also named Wealth Bowl of India. Come be a part of this sunrise industry growing at more than 20%.

If this interests you,

Call xxxx xxxxx,
Development Officer, LIC of India

Now you know what that money you earnestly put in that ULIP all these years is doing. It’s making you poor and your agent/insurer stinking rich.

Avoid ULIPs. I can’t say this enough times.




Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.

{ 2 comments… read them below or add one }

gopal May 13, 2010 at 11:58 AM

Very bad experience with ULIP. Never buy it, build your asset .

Anoop May 13, 2010 at 2:33 PM

Nice information.. its indeed true, but older generation depended heavily on such self-employement, however I notice many avoid it these days, call it financial prudence or just instinctive.

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