Posted On
8/2/2022
9:08:16 AM
by
SKS
Agent is nothing but a middle man who takes his commission for explaining various plans to customer. If Plan is already in your mind then no need for Agent. If No, then better you hire Agent to decide best plan for you. Generally agent try to sell 1-2 plan because of their high commission %. So, ask multi agents & multi plans. Decide yourself AEAP (Lot of options confuse too)
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Posted On
8/2/2022
10:44:05 AM
by
Subin
Never ask advice to agent. a Typical agent in India knows nothing about investment. They sell products which gave them better commission. They have zero idea about what they are selling except how much commission they get. Use some online sites to compare various schemes and decide yourself.
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Posted On
8/11/2022
10:02:38 AM
by
.Alchemist..
90% of the pension plans invest your money either in equities or FDs or Bonds depending on the risk profile. besides that they deduct considerable portion of your investment towards the insurance charges (for the sum insured in case of unfortunate incidents), which is total waste as the insured amount is meager(this is usually unavoidable as most of insurance plans are inbuilt with this).
So best advise is to do some research or speak some reliable financial advisors and invest in Mutual funds or Equities.(Retrospectively You should have started doing all these in your 30s, which would in turn give better returns in long term ).
Better late than never, Get some reliable financial advisor suggestions and proceed.
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Posted On
8/11/2022
12:26:59 PM
by
Febin
SBI life
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Posted On
8/11/2022
2:31:03 PM
by
Investor
Opt for immediate annuity pension (you start receiving pension immediately). Invest through a mutual fund and let the corpus grow instead of opting for a pension plan where you invest regularly and hope that they will grow your funds. When you actually want the pension, use your corpus to buy an immediate annuity plan.
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Posted On
8/11/2022
4:55:20 PM
by
Life
@ Febin..are you a SBI agent or think its reliable.? I was joined SBI life few months before for 15 Lakh rupees 3lakh per year x 5 years policy . The agent told whatever is I didnt understand yet. He shown me a excel sheet calculation and said i will get pension 15000rs nearly monthly starting from 5 years of policy completion. and after 15 years I will get nearly 35 lakh and the pension value will be handed over to wife and after children''s after my death. But latterly after joining I understood that the pension amount 14000rs monthly basis as agent said we didnt get it monthly basis but it will added to the total value and will get it after 15 years all together means 15 lakh deposit= maturing nearly 35 lakh. I was joined because of hearing about 14000-15000 monthly pension . The agent actually misguided me I think. Its all my guess I don''t know what the reality but the agent is still saying I will get monthly pension whatever he said before. Anyone have any previous experience here please comment.
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Posted On
8/12/2022
10:28:59 AM
by
The Kay
Life, thanks for sharing your experience. Hope people realize that insurance is no good anymore.
Buy only term plan and health plan, and those two plans are not called investments. These policies are costs to your pockets. They cover your financial risks during illness or help your dependent wife/children when you are not here. You don''t have to buy term plan if you don''t have dependents.
Invest in Mutual funds through the SIP route, and withdraw your monthly requirements through SWP. If you spend 1 hour a day learning about financial planning you can do all this by yourself. If you can''t do this by yourself.
Talk to a fee-only financial planner. You better pay them 15/20k as a fee and get your finances sorted instead of buying these misleading insurance policies.
You just need to save 3000 per month for 30 years to accumulate a corpus of 1 crore through a SIP in an equity mutual fund.
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Posted On
8/12/2022
8:30:02 PM
by
RK S
Life, In general returns as follows... Experienced Agents in general knows what''s going on but during explanation create confusion. This happening with many in India too. What person will get is clearly written in policy document ( or that excel sheet). Need to see table heading / note to know whether money is added to your corpus after 5 yrs or when person get in cash and what will be received when unfortunate event happen. For knowing table, we need to spend sometime. Policy document is final, nor 1 rupee more nor less.
As you said, most likely, might start getting after 15 yrs... inefficient policies. I too taken such policy long back but lower amount.
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Posted On
8/13/2022
2:17:57 PM
by
Life
@RKS . I have received written documents. Its a dictionary like English Oxford. A book with lots fo explanations. Nothing understand what they meaning. And didnt mentioned anything as excel sheet which agent shown me. Then I asked the agent why your excel sheet calculations are not included with it. He says its all written there but hidden you didnt understand. You have to read all sitting for day to understand well. Anyhow the agent after ensure me that after 15 years I can withdraw 60% of the capital fund means nearly 38 lakh rupees.. More than double profit within 15 years and monthly pensions to my family members after my death.
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Posted On
8/13/2022
3:33:10 PM
by
JJ
-All plans through agents are Unit linked / Market linked ones. -I have worked in 2007 -2010 as Financial Advisor / Financial Services Consultant / Sales Engineer with major stock brokers and sold multiple Products of many companies including AVIVA, HDFC, ICICI PRULIFE, SBI,LIC, TATA AIG, BIRLA SUNLIFE . What i learned is huge commissions.. If you invest 1 lakh for year , just 20-50 percent is invested in market and rest taken as policy charges similar to making charges for Gold . Better if you invest , clearly tell them I want commission for my payment. We have done that while we were working too ..
My advice Its not late to learn about Market, NSE BSE , Bank Nifty , Daily trading Mutual funds. Stocks with Dividend ... Contact some Stock Brokers and learn or Pay and take advice for confirm call .
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