Agents push endowment and money back plans, which fetch them higher commissions even though the returns are very low.
See the below list to be prepare while taking any life insurance plans:
- Pure term Plans: Best form of insurance but projected as a waste of money.
- Ulip: No longer favorite because of the low commissions.
- Money Back Policy: Very costly plan. People may not even need the periodic payments.
- Endowment Plan: Most popular plan because of the high commission.