Poly student should not buy Life Insurance

I received this e-mail:

Hi , I am a student, from polytechnic. I had bought a pruflexicash policy. And I found out that the sum assured is only $10,500. And I pay $77 monthly. Is it really worthwhile to continue with this policy? I had already bought this policy for 8 months.

I asked the student to tell me how he was sold this policy. It is clearly not suitable for a student. If it was to buy protection, the student could have bought $100,000 of life insurance cover from SAF for $10 a month. If it was for savings, the student should have kept the money in the saving account - at least he does not lose 50% of the saving for the first two or three years.

Clearly, the insurance agent who sold the policy must be taking advantage of the ignorance of the polytechnic student. The agent earns the commission at the expense of the student. It is unethical. Should this be allowed to continue?