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Buying an insurance policy

by | Mar 27, 2015 | Basics, Finance, Insurance

Almost always we buy life insurance when an agent or his friend approaches us with one of these lines or something similar:

  • Your son has started working, you should buy a policy as an investment or else, he will end up spending all his money.
  • I can get you a proposal for your daughter, but you will have to buy a policy from me.
  • I can get you a job for your daughter, you’ll have to buy a policy from me.
  • You are going to join a ship – it is a dangerous job. You should take an insurance policy.

We do get taken in and go in for a policy. Then the agent actually decides which policy one should take, what premium one should pay, what should be the sum assured, etc, etc.


These questions come to mind – questions that we do not give any thought to:

  1. Do I really need an insurance policy?
  2. Why not give this man a ‘finder’s fee’ rather than commit to a payment for 20 – 25 years?
  3. Is this man, as an agent, looking after my interest? Or only for his commission?
  4. Is he, as an agent, atleast know something about insurance in general and about this policy in particular?
  5. Is there a better alternative?


Give it a thought.

Niranjan Bangera

36 Properties Pvt Ltd


  • Real Estate Investors
  • Real Estate Brokers
  • Mutual Fund Distributors


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Written By: niranjan

Financially Stupid Niranjan


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