GONE are the days when financial products meant only fixed deposits and small savings schemes. Now, there are an array of investments for your benefit!
For instance, there are insurance plans that provide equity and debt investment like Unit-Linked Insurance Plans, investment plans that provide insurance like Systematic Investment Plans + Insurance and so on.
With so many products, it is easy to get sweet talked (by an agent) into investing in the wrong schemes. And that’s probably why you find young people with an insurance cover that they don’t need and many more such cases of mis-selling.
The intense competition amongst financial players has only made matters worse. Distributors and agents with unattainable sales targets pitch products left, right and centre. After all, what do they have to do with your needs and goals, they earn their commissions!
However, mis-buying is as much a problem as mis-selling. Too often, the real culprit is staring back at you every time you shave!
Read more at: MoneyControl