Insurers flout norms, use pyramid selling schemes
Pyramid schemes, where recruiting more sellers is more important than selling, aren’t new in India. An investigation by ‘Outlook Money’ magazine, the content partner for Mint’s personal finance coverage in the Business of Life section, reveals that such schemes are now being used by corporate insurance agents -- in violation of norms laid down by the Irda
Reply to comment
yes , in fact i bought insurance from a mlm company and i did understood every thing before buying it from the networker .
so you see i do not have any problem with buying an insurance policy from a network marketing company.
grow up people! and let the insurance industry understand and evolve into a profitable venture or they will be shut down eventually because of the expensive to maintain agency model .
i do not see any thing wrong with mlm companies promoting it . best of luck to all mlm companies for promoting a habit of investing rather than blowing up money.
kaushik