They also know physicians are short on time and use that against them through hard sell tactics. For this reason, it’s important to educate yourself on these common sales tactics and the financial products that dishonest salespeople will try to sell you.
The first step to understanding personal finance is, in many ways, to start fresh. Many physicians depend on their peers for financial advice, but unfortunately, their peers don’t have significant financial knowledge, either.
To spot those who belong to the Dark Side, you need to educate yourself on some of the common phrases or techniques that salesmen will use against you.
Many insurance salesmen make a significant amount of money selling whole life or variable life insurance policies. Little did they know, the person that sold it them made 80-120% of that sale in commission when he sells that product.