The following comments apply to unethical agents, and do not apply to agents who act honestly.
If an insurance agent tells the truth about a life insurance policy, it is likely that the customer will not buy it, because the yield on the long term savings is rather bad. The agent has to resort to half or full lies to get the customer to buy the product. An example, is that the policy can give a yield of 9% because the funds are invested in good emerging markets. The chance of achieving this type of yield, net of expenses, is really quite remote.
It will be inexcusable for an experienced agent to make this type of misrepresentation. The way out is to be an agency leader and to make these statements to the energetic recruits about the "benefits" of the life insurance policy. The new agent does not know that these statements are untrue, and goes about with enthusiasm to spread the word to family and friends.
It is easier to make a false statement when one does not even know that it is false!
If an insurance agent tells the truth about a life insurance policy, it is likely that the customer will not buy it, because the yield on the long term savings is rather bad. The agent has to resort to half or full lies to get the customer to buy the product. An example, is that the policy can give a yield of 9% because the funds are invested in good emerging markets. The chance of achieving this type of yield, net of expenses, is really quite remote.
It will be inexcusable for an experienced agent to make this type of misrepresentation. The way out is to be an agency leader and to make these statements to the energetic recruits about the "benefits" of the life insurance policy. The new agent does not know that these statements are untrue, and goes about with enthusiasm to spread the word to family and friends.
It is easier to make a false statement when one does not even know that it is false!
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