My relative who is working in adity birla insurance sector, offering me ULIP plan from aditya birla named Fortune Elit Plan. Annual investment of 50k for 5 years with 10x insurance. First year have to pay lump sum amount of 50k.
Now question is what can be commission on this plan! Agent is known so i cant ask directly, is its 1-2k then i ll skip, if its more like 10-15k then will talk only. So if anybody have an idea please confirm.
ULIPS has a commission of 9-14% easily. u can surely check with him
ULIP only benefits the insurance company and the agents. ULIP is always a loss to the investor.
Buy a pure term plan insurance and invest rest of the money in proper investment instrument.
And write in your mind in red letters that the so called relative is using you for earning profit, so he/she is not really your relative.
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