Prudential and its irritating agents

[Parkingidiot]

Terminating life insurance policies prematurely may not be the best of ideas, as a large part of the initial years premiums are paying off the huge costs behind the policy, and will result in a loss to the client. There is a period of time required before life insurance policies actually start making profits, if I am not wrong. This is what my various insurance agents kept drumming into my head.

[Leslielai]

Actually you are very right, if one has no kids or dependants one does not need death coverage much at all.

 

Just ask yourself this question, if you are battling cancer, your medical expenses are paid for, where is the income going to come from.

 

If you have a low debt ratio and your spouse is already working then its still ok. If your spouse is not working, its better to buy a critical illness plan that covers for 3-5 years of your income.

 

Endowment plans suck, what I tell all my customers is that. Get your basic coverage up, term if you dont mind not getting anything back, life if you want to get back something. The rest just buy into blue chips once you accumulate 3000-5000 spare savings. Maintain a liquidity of 30% of assets in cash 70% in equities when your are 30+ then scale back slowly towards cash as you hit 50. Once you retire can use dividen payouts + fixed income derivatives like bonds to generate passive income, all without touching your capital.

 

Insurance is only for protection, it is simply too ineffective a tool for savings.

 

Ok time for me to reply.

 

First of all you do seem like you are passionate about your job and that is a good thing. But please do not get too defensive about your company, especially if you see yourself as a professional.

 

In every industry there are bound to be black sheep who tarnish whatever good reputation that's been accumulated over time but do seek out more opinions from the general public about their general perception about Prudential (the way the agents conduct themselves and the kind of products they pitch).

 

I'm not slamming all insurance firms and agents here, just Prudential. Why? For some weird reason all the black sheep I have encountered are from YOUR company, Mr Lammy. They are they ones who seem clueless (probably due to the fact that a large number of them are fresh graduates) and very often, too aggressive towards clients (or potentials) even when we say no to endowment plans, which is what they seem very eager to peddle most of the time.

 

They then get all professional and try ways and means to tell us indirectly that we do not know how to manage our money and tries to do so for us. Trust me on this, I have met way too many agents. Let's just say I'm not good at turning down friends who are fresh in the industry and predominantly, your company.

 

Apparently Prudential agents are not aware of the convenience that they bring to people's lives by stopping them in public places at numerous road shows your company seem to love all so dearly and call us at very inappropriate times (i.e. office hours) and several times at that. They don't seem to take no for an answer.

 

 

I am personally very well insured by other insurance firms which I shall not mention because it doesn't help and the way their agents conduct themselves is very professional (again, there are some black sheep but not as many as Prudential). They do not act all that smart and definitely do not peddle endowment plans like you guys do. I'm not sure if such products are available from their companies but the agents certainly have not bugged me to buy such products.

 

 

What you have said above shows that you do have some knowledge, good for you. Hope you are aware of the general way your colleagues conduct themselves. My point is, since you demonstrate some logical thinking.. please, do not be overly loyal to your company.

 

 

Jump ship la

Edited September 8, 2009 by Leslielai

[Leslielai]

One more thing..

 

Have you guys noticed how some FINANCIAL ADVISORS seem to act all so knowledgeable when they try to manage your money?

 

I teach you a good way to make them chui3 tat4 lan3.

 

Since they like showing you statistics on returns you can get from their financial products (not life insurance) and how safe it is and all.

 

Tell them straight in the face that you don't need that kinda returns. A portion of whatever they promise is good enough but you want it GUARANTEED, if they can do so you'll give them whatever cash you have. Any extra returns they can take it as commission.

 

Watch their face after that...

 

 

[Leslielai]

oh come on give them a break...

most are just trying to make an honest living

 

it doesnt matter if you hang up or say bad things

most tm already heard them thousands of times and are immune

 

direct selling is like that.

there's a ratio.

 

i may have to make 1,000 calls to nasty people before i stumble across that one nice person who makes my day.

you folks are just statistics to the TM, why blow your top over something so minor?

 

Making a living is THEIR problem.

 

Why make a nuisance of themselves?

 

I have no issues with people making an honest living but certainly not those who make money at the expense of consumer ignorance and in this case, pissing people off. You wanna make money, your problem. Learn to take no for an answer.

 

Prudential is just screwed up.

 

 

 

 

[Leslielai]

my opinion of prudential is that their products are investment linked....

 

 

They do provide normal insurance coverage products as well but you certainly are not wrong. This is how you perceive them.

 

Balls to them.

 

Someone should bring this thread to the attention of Prudential.

 

 

 

[Leslielai]

Cool it bro.

I've received alot of calls not only from Insurance but from banks, wine investment co. and even some sh!t company I don't even know that exist. Some of them are recruitment calls! Asking me if I'm happy with my job!?

 

Anyway, normally if I receive such call for the 1st time of the day, I'll reject them politely. They are just doing their job looking for sales whenever they can. However, if I get another call from them on the same day, I'll just screw them up. Don't blame them, blame on the person that shared our contact all over.

 

Just 4 months ago, I was signing up a ins plan with my usual ins agent. He found out that there is a policy which so-called I agreed on over the phone but I've never bought or agree on anything anyone trying to sell mi over the phone. We suspect that someone "decided" on the policy for mi without my acknowledgement. Though its only $20+ but its a breach in trust with the co. My ins agent told me these kinda PA plan does not need to be signed on paper to go through. Its important to check ur bank statement regularly. To see if any unusual deduction made from the account. Hope all bros look out for this.

 

Bro I tell you. Banks are better la.

 

I have resorted to telling agents and bank telemarketeers that I have passed away (and that I'm the brother of myself).

 

The bank people believed me and the number of calls gradually stopped but not the insurance arses.

 

[Loki]

If you guys want to be put on the Do not call list and to complain, send an email to the office/HQ of the company and copy the email to IDA - they are the regulatory authority. Most companies will reply damn fast when they see that you get IDA involved.

[Blueray]

Bro I tell you. Banks are better la.

 

I have resorted to telling agents and bank telemarketeers that I have passed away (and that I'm the brother of myself).

 

The bank people believed me and the number of calls gradually stopped but not the insurance arses.

 

hahaha, good one, will tell the next telemarketer the same thing and that they have now reached me in "the other world" ...

[Tigershark1976]

How many of you guys here receive sales calls on a continual basis from Pudential and its agents? They are damn thick skinned, thick in the skull and just god damned irritating.

 

I get as many as 3 calls PER DAY and its pissing me off real bad.

 

If any Prudential agents happen to read this, well bugger off. The world can do without you f--kers giving yourselves a fanciful title of FINANCIAL ADVISOR/CONSULTANT. What makes you think you're qualified? Just because you passed some mickey mouse papers? Stop ruining the name of finance.

 

Sorry, just wanna vent some anger here. If this isn't appropriate please take it down.

 

 

u mean, u only get these irritating call from the insurance company??? then you are lucky.... im in sales line and my namecard is quite widely spread. I believe some idiot simply pass my card some jokers and I received calls from insurance agent (manulife, prudential & etc), investment company, hotel promo (VIP cards), bank (credit line/ credit card) & etc... My way of dealing with these plp.... just tell them that u have recently declared bankrupt, and u can rest assure that they will not call u again in the next few months. Works most of the time....

[Pentium]

One more thing..

 

Have you guys noticed how some FINANCIAL ADVISORS seem to act all so knowledgeable when they try to manage your money?

 

I teach you a good way to make them chui3 tat4 lan3.

 

Since they like showing you statistics on returns you can get from their financial products (not life insurance) and how safe it is and all.

 

Tell them straight in the face that you don't need that kinda returns. A portion of whatever they promise is good enough but you want it GUARANTEED, if they can do so you'll give them whatever cash you have. Any extra returns they can take it as commission.

 

Watch their face after that...

 

 

There are alot of financial products with guaranteed returns. the more you can put in, the higher the guaranteed amount lor.

[Thug]

Bro I tell you. Banks are better la.

 

I have resorted to telling agents and bank telemarketeers that I have passed away (and that I'm the brother of myself).

 

The bank people believed me and the number of calls gradually stopped but not the insurance arses.

 

Haha...really...they buy that...

 

[NightFox]

Haha...really...they buy that...

 

Whoa thats a really good idea. Those on the streets can do something similar too....when they approach you, just pretend to go ahhhhh ooohhhh.... act dumb. Most of the time they will be too shock to react....remember to gesture wildly as well

[Parkingidiot]

ha... just got a call this evening from a telemarketer from Bank of China.... telling me I have been selected for a platinum card, before I could say "The.." she already went into her spin. After about 2 minutes, she finally stopped and asked if I earned $2500 to qualify. I suddenly remembered this thread and said..."No, I earn less than that". She said.. oh, ok, thanks for your time and hung up.

 

SO .. henceforth I shall use this trick.... "my salary is $1200, can I get one of these cards?"

[Spinworkx]

Well, incoming calls are free right?

What i usually do is just let them talk while i just leave the phone there lor...eventually they will put down and never call back :)

 

But Credit Card is easiest la..just say you don't qualify and they won't bother you again...

[Leslielai]

Ok, I have sent a feedback through their website and threatening legal action if they bug me again.

 

Let's see how things go.

[Gearoil]

When you're calm and able to rational the suituation ..it's easier for some to 'handle' these sales ppl...they can be property agents, insurance agents or even secret agents!

 

But there is a weakenss (read as NOT being firm in their wants) in most ppl when they are being approached by these sales ppl.

 

These sales pple ( usually armed with some sort of promotion ... labelled 'bait') comes to someone who cannot or doesn't know HOW TO REFUSE OUTRIGHT!

 

There is a skill ( that can be honed) in how to 'make a demand.....nego for a settlement...'always come out as a winner... in any suituation but the most important part is whether one has the right personality to take on issues.

 

Like they say, if you don't have the 'make up' (as in the frame of your mind) to take on any issue be it if this comes on to you suddenly or gradually..then you probably won't be able to be firm in handling sales or any ppl for that matter.....then that is why there are LOSERS and WINNERS in life!

 

Cheers

[Vtim]

When you're calm and able to rational the suituation ..it's easier for some to 'handle' these sales ppl...they can be property agents, insurance agents or even secret agents!

 

But there is a weakenss (read as NOT being firm in their wants) in most ppl when they are being approached by these sales ppl.

 

These sales pple ( usually armed with some sort of promotion ... labelled 'bait') comes to someone who cannot or doesn't know HOW TO REFUSE OUTRIGHT!

 

There is a skill ( that can be honed) in how to 'make a demand.....nego for a settlement...'always come out as a winner... in any suituation but the most important part is whether one has the right personality to take on issues.

 

Like they say, if you don't have the 'make up' (as in the frame of your mind) to take on any issue be it if this comes on to you suddenly or gradually..then you probably won't be able to be firm in handling sales or any ppl for that matter.....then that is why there are LOSERS and WINNERS in life!

 

Cheers

 

that's very true, whenever my wife got a phone call about promo, she do not know how to reject the caller, I'll just signal that I'll take over her handphone and just reply, "she's not interested!"

 

Whenever someone approaches me on the road/shopping mall to promote something, I'll just raise my hand and say "sorry, not interested" and just carry on walking.

 

There was one time, this young and very persistent and just carry on his promo speech, I pause a while and say "Which part of the 'sorry, not interested' that you do not understand" and stare at him with annoy face and walk away !

 

[Nullifi3d]

At the end of the day a sales call is made. either you sell him the idea that you're not interested, or he sells you the idea to part your money with him. A sale is always made.