If mutual funds, which are also ‘push’ products like insurance, can survive without load, why can’t insurance?
It is improper to say that mutual funds are push products. Insurance sale is in no way comparable to selling mutual funds. Their marketing is done mostly by institutions, which have undergone a significant loss of business and are now resorting to paying the agents with their own sources using different methods. A month or so ago, a fund house ran a competition for which their pricing was much higher than the earlier commission of 2.25%. Mutual funds are going through tough times. The total assets under management have come down by Rs 1.5 lakh crore ever since the no-load regulation was thrust on them.
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