An unexpected call comes to a financial adviser or agent: “I have some Sh10 million in cash and a couple of cheques and would like to deposit them into my unit trust account and use some to purchase a life insurance product ASAP. I am travelling early tomorrow, could you urgently send me the paperwork I finalise the transaction before I leave?”
Eyes focused on the potentially huge commission that will be realised soon after this deal, this agent will do anything to ensure the transaction is finalised in the quickest way possible. A couple of days later, the client calls in again: “I have an emergency! My car was shipped earlier than planned and I would like to urgently access my cash right away. What do I need to do? Can I cancel my policy? I have not done my medicals yet, so that shouldn’t be a problem right? Can I also redeem my unit trusts?”
