Judge by efficiency, not age. Review on Choosing an Insurance Provider

Very nice to see somebody say ''judge companies more than 20 years old''. So u should use only Indian airlines, State transport buses, MTNL, UTI and LIC! surely, I do not use Indian Airlines, use private taxis, private buses, templeton and hdfc mutual funds......why use LIC?

It is the most inefficient asset manager, spends 20% of its income on administrative expenses, pays the highest commission to its ill trained workforce, cannot consolidate policies across branches....I prefer the private sector boys!

The sales guys from the priv insur guys are smart, aggressive (not a great attribute maybe), efficient. However they too lack knowledge about markets, products, financial planning, etc.

I guess the best thing to do is to take a term insurance (only when hdfc introduced term, did LIC wake up to such policies), and invest in mutual funds!

To say lic is good because it is 20 years old, means after 20 years......u will change the figure to 40 or 45, is it? success in asset management is not a function of age, it is a function of efficiency. Where is UTI in terms of assets under management? why is templeton the no.1 or hdfc the no. 2? Both are young - HDFC is only 7 years old!! vs. UTI is 40 years old! Maybe the Indian cricket team should ask Gavaskar, Vishwanath, Bedi, Pras, Venkat to play!!