So many times in our life, we face this situation that someone from our distant family for friend circle – UNCLE (even Aunts too) are themselves Insurance agents and try their level best to sell an insurance policy to us. Many a times, you, can’t say clear NO. But deep in your heart, you don’t want yourself to be tortured for that emotional blackmailing. What to do? How to say No?
Very simple – let the person come to your house. Welcome him/her. Sit with the person. Offer tea/coffee with snacks. Indulge in casual chit chat and wait for the marketing push. The uncle/Aunt will slowly open up and tell you a new insurance plan, tailor made for your needs. Listen carefully. Talk about it. Understand it. Cross questioning something to clear your doubts.
Now ask to calculate the premium of sum assured for 50 to 100 times of your yearly income. One small caveat – ask the premium in monthly mode. Fill the application form all by yourself. Pay that monthly first premium cheque, if money is in your budget. In all probability, even the monthly premium will be out of your budget. Ask the same person to help you with the shortfall in the premium.
Now your application will go into processing. Seeing the sum assured applied for and the income band you are in, the policy will be rejected by insurer itself.
So it’s the person, who will say no to you now. Go and enjoy it.
You may face counter offer of reducing your sum assured so that policy can be clicked. Now is the time to negotiate a term plan for same sum assured. Premium will be less than endowment policy. But stick to sum assured. You again know the outcome in advance.