I’ve read quite a few blogs and websites about Insurance. It is in my opinion that yours is one of the most impartial and informative site yet.

I am an insurance agent myself but do forgive me if i prefer to keep my Company out of the picture. Before i joined the insurance industry, i ran away really quickly at the mere suggestion of insurance. I didn’t really believe in it. It wasn’t until recently that i knew the importance of insurance.

Now, to the point of term and whole life insurance, i do agree with what you’ve posted. For the same amount of coverage, the premiums for term insurance is a whole lot lower, which very few Singaporeans know. The difference you save in premiums could be invested elsewhere.

When i first started out selling insurance, i only learned about Whole Life policies and Investment Linked policies. There was hardly any curriculum on term policies. And so i sold what i knew. But now, i realised what i was depriving my clients of.

The only time anyone needs to buy a whole life policy is when he or she does not have the discipline to save or if they do not have any investment knowledge. It would also be foolish to invest when they have no idea how it works. And not everyone wants to do their homework.

Heck, putting money into the bank with low fixed deposit interest rate is anytime more prudent than buying an endowment plan! Most endowment plans are in force for 10 years at least. If you cash out anytime before your policy is mature, you WILL almost certainly lose some of your capital, which is your premium in this case. And you never can foretell what is going to happen in the next 10 years. That is why you believe in insurance right? So why do people put themselves into this risk? I would rather plonk my money into a fixed deposit anytime and withdraw it when i really need it. So what if the interest is negligible? At least i don’t lose money. I only lose out on inflation, but how many people in Singapore really understand the compounding factor of inflation anyway?

Insurance is all about protection. I honestly think insurance and investment should not be lumped in one package. You want insurance advice, look for an insurance agent. You want investment advice, look for a remisier. But unfortunately, most advice we seek and implement only serves to benefit the agent.

I’ve been there. It’s honestly very hard to choose between moral and feeding yourself. For the past few months, i believe i’ve been giving advices to new clients to my detriment. Advices that either earn me peanuts or nothing at all. But my clients were pleased at my honesty and they referred me more clients.

I’m still earning below what liability and i am in debt because there isn’t any basic salary. I know i can sleep well knowing i honestly helped people in their financial planning but i stress up when my bills come.

It’s a paradox. It’s almost like doing pro bono insurance advice. To give really good and honest insurance advice means earning less. It reflects what i’ve always thought. The better the product is for a client, the lower the commission.

I reckon the only way i can survive in this industry is to charge a service fee for consultation. But then again, who would pay? There are always agents who will dole out advice for free. But of course, there’s an even better chance they will upsell another policy to these poor folks.

I love my colleagues. They are great people. But i can’t do what they do without feeling that i’ve compromised my morals and integrity.

So what can i do? Stay in this line, help people and be poor as a church mouse? Or just get another job?

I’ve read quite a few blogs and websites about Insurance. It is in my opinion that yours is one of the most impartial and informative site yet.

I am an insurance agent myself but do forgive me if i prefer to keep my Company out of the picture. Before i joined the insurance industry, i ran away really quickly at the mere suggestion of insurance. I didn’t really believe in it. It wasn’t until recently that i knew the importance of insurance.

Now, to the point of term and whole life insurance, i do agree with what you’ve posted. For the same amount of coverage, the premiums for term insurance is a whole lot lower, which very few Singaporeans know. The difference you save in premiums could be invested elsewhere.

When i first started out selling insurance, i only learned about Whole Life policies and Investment Linked policies. There was hardly any curriculum on term policies. And so i sold what i knew. But now, i realised what i was depriving my clients of.

The only time anyone needs to buy a whole life policy is when he or she does not have the discipline to save or if they do not have any investment knowledge. It would also be foolish to invest when they have no idea how it works. And not everyone wants to do their homework.

Heck, putting money into the bank with low fixed deposit interest rate is anytime more prudent than buying an endowment plan! Most endowment plans are in force for 10 years at least. If you cash out anytime before your policy is mature, you WILL almost certainly lose some of your capital, which is your premium in this case. And you never can foretell what is going to happen in the next 10 years. That is why you believe in insurance right? So why do people put themselves into this risk? I would rather plonk my money into a fixed deposit anytime and withdraw it when i really need it. So what if the interest is negligible? At least i don’t lose money. I only lose out on inflation, but how many people in Singapore really understand the compounding factor of inflation anyway?

Insurance is all about protection. I honestly think insurance and investment should not be lumped in one package. You want insurance advice, look for an insurance agent. You want investment advice, look for a remisier. But unfortunately, most advice we seek and implement only serves to benefit the agent.

I’ve been there. It’s honestly very hard to choose between moral and feeding yourself. For the past few months, i believe i’ve been giving advices to new clients to my detriment. Advices that either earn me peanuts or nothing at all. But my clients were pleased at my honesty and they referred me more clients.

I’m still earning below what liability and i am in debt because there isn’t any basic salary. I know i can sleep well knowing i honestly helped people in their financial planning but i stress up when my bills come.

It’s a paradox. It’s almost like doing pro bono insurance advice. To give really good and honest insurance advice means earning less. It reflects what i’ve always thought. The better the product is for a client, the lower the commission.

I reckon the only way i can survive in this industry is to charge a service fee for consultation. But then again, who would pay? There are always agents who will dole out advice for free. But of course, there’s an even better chance they will upsell another policy to these poor folks.

I love my colleagues. They are great people. But i can’t do what they do without feeling that i’ve compromised my morals and integrity.

So what can i do? Stay in this line, help people and be poor as a church mouse? Or just get another job?

Why not post videos of people supporting buying wholelife plan and make decision for themselves?

Why not post videos of people supporting buying wholelife plan and make decision for themselves?

One point to note is that,successful adviser doesn’t necessarily constitute good adviser that give sound advises.
Your financial knowledge will determine whether your adviser are ethical and giving the advises to your best interest.

One point to note is that,successful adviser doesn’t necessarily constitute good adviser that give sound advises.
Your financial knowledge will determine whether your adviser are ethical and giving the advises to your best interest.