Sunday, January 31, 2010

Insurance Advisor

Just tried creating a cartoon strip using ToonDoo and the topic selected was for obvious reasons!The average insurance advisor that one gets to see these day seem to ask about anything and everything, except insurance!!

(Click the image for a better view. Thanks!!)


Get Human said...

Yesterday I was bugged by a AmSure Insurance. They call it the best of its kind.

it would be nice of you to review this insurance..

Ganesh said...

@ Get Human,
Can you be bit more specific as to which product you need a review of?

As far as i know Amsure is a combined offering from Amway and Max New York (i am not sure though).

They have co-branded products.

Get Human said...

Sorry I should have been specific. They called it "Max New York Life Amsure Magic Builder".

eagerly waiting to read your review.

Ganesh said...

As per the illustrative example given in the product brochure (refer -> the IRR for the product (they mention it as for balanced fund, but it wouldn't vary much for any other investment fund) at an assumed growth rate of 10% is only around 8%, and that too without considering mortality charges and serive tax (beats me why they have excluded it!). I couldn't find a complete illustration on their website, but in my opinion, Magic Builder is just like any other normal child ULIP. The IRR is low and the returns are market linked (and hence risky).

I would suggest a term plan + well diversified mutual fund plan over this on all counts. It is always to keep insurance and investments separate and simple.