Life Insurance sales in France

In France, there are virtually no life insurance agents left. All the life insurance sales are carried out by the banks or by salaried employees.

The upfront sales charge is 1% or less for single premium products. The annual fee deducted from the investment fund is 0.5% for equities and 0.1% for fixed income.

These charge are very low. Life insurance gives good value to the customers.

Previously, the sales were done by life insurance agents earning a high rate of commission. When the agents were forced to disclose the high commission to the customer, resulting in no cash value for the first two years, the customers refused to buy the products.

In Singapore, the high charges are disclosed to the customers. But the customers are not aware that they have the alternative to "buy term and invest the difference". They pay the high sales charges and, when they learned about these charges later, they regret their decisions.