Prudential and its irritating agents

[Donut]

just tell that u are not working at present moment and got no income..... full stop.

[Limxiaoming]

Bros very easy i have a method that works for me.

 

When the person calls, just tell them that u have already bought a policy from one of their collegues last week because he called before u.

 

Just give him a fake name like XiaoMing or something haha.

 

They will auto stop calling.

 

Works everytime

[Scion]

actually i dun understand why an individual needs so many insurance policies...

just 2-3 good basic ones are enough, in my opinion....

 

thats why whenever an agent told me; it's only $2 per day or whatsoever...

i will tell them; i have got many expenditure that, after breakdown, also cost very little per day. it's just a marketing gimmick that people always think it's cheap when calculated per day.

 

eg

petrol $200 per month -> $6+ per day

car installment $600 per month -> $20 per day

internet bill $30 per month -> $1.50 per day

[Babyt]

i have a fren who was retrenched and now working for an insurance coy selling insurance. She told me she is confident she can do well in this line (LOL? brain wash by all those motivation talks i guess).

 

Ok i dont mind listening to her promoting her products but when i asked her whats the difference between her product vs ntuc similar saving product, she dunno!...i am not going to buy a long term saving product from you just because u r my fren when u know nuts about such products...and worse...u may just quit sooner or later....

[Rickster]

Actually, I believe that the most important & basic coverage that we all should have is medical.

 

We can afford to die, but cannot afford to fall sick!

[Babyt]

ya...i can take full loan 150K for a car, pay 10 years...everyday is just only 41 bucks..cheap right? LOL

[Vextan]

i heard of quite a number of cases of insurance agent quit sometime after they sold their product, and then a new agent takes over to serve the old customer, only to try to sell more additional coverage. and in time the new agent also quit, to be taken over by yet another new agent, and the same story goes.

[Kxbc]

Actually, I believe that the most important & basic coverage that we all should have is medical.

 

We can afford to die, but cannot afford to fall sick!

Your statement prob only true for those with no dependents, like me. Those with young children and non working spouse will require life policies in case go see yan luo wang earlier than expected.

 

I also not afraid to die. I just afraid I won't die but lie in bed sick and immobile. How I wish euthanasia is legal in Singapore.

[Rickster]

i heard of quite a number of cases of insurance agent quit sometime after they sold their product, and then a new agent takes over to serve the old customer, only to try to sell more additional coverage. and in time the new agent also quit, to be taken over by yet another new agent, and the same story goes.

 

Ya, I experienced this with my own policy also lor.

 

Usually I can say it happens more tot he young agents as many of them are there to try their luck in this line.

 

Usually those in their 30s and above will be more stable & long-term agents.

[Lammy84]

I can gaurantee you that every agency and company has agents who are like that. No need to point us out only just because you had bad experience with one.

 

Are you one of the same things that just group all OPC owners into the group of being unable to afford black plate thats why buy opc?

[Lammy84]

Actually, I believe that the most important & basic coverage that we all should have is medical.

 

We can afford to die, but cannot afford to fall sick!

 

 

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.

[Rickster]

I can gaurantee you that every agency and company has agents who are like that. No need to point us out only just because you had bad experience with one.

 

Are you one of the same things that just group all OPC owners into the group of being unable to afford black plate thats why buy opc?

 

Y so defensive? I know u r an agent and I respect u for the effort u have put into your career.

 

However, can you point out which part that I had mentioned is untrue?

 

Oh btw, I drive an OPC also.

[CH_CO]

I can gaurantee you that every agency and company has agents who are like that. No need to point us out only just because you had bad experience with one.

 

Are you one of the same things that just group all OPC owners into the group of being unable to afford black plate thats why buy opc?

 

Problem here Lammy84 is a system problem , nothing to do with bad experience nor affordability. The problem here is if one is selling something that requires the client or person to commit for a long period of time , some form of assurance would be needed. It would be similar to you buying from this particular car importer only to find it gone tomorrow using the same analogy i hope you understand where we are coming from.

 

Since you are in the sector , you would probably know what is the dropout rates are and whether if this dropout rates is truly affecting the views of people. Being in the line , i can understand why you are defending it fiercely but to be fair to all , you must understand that out of 10 agents we meet on the road today , how many of them would you still see on the road in 5 years time?

[Lammy84]

Y so defensive? I know u r an agent and I respect u for the effort u have put into your career.

 

However, can you point out which part that I had mentioned is untrue?

 

Oh btw, I drive an OPC also.

 

I didnt say its untrue, its just that dont you think doing this is akin to having a bad experience with a BMW on the road then coming here to blast, ALL YOU BMW DRIVERS WAKE UP your IDEAS!!! DRive properly!!!!!

 

I think the thread would turn into a flame war very soon too. Its not about the contents and rather the way of delivery.

 

The problem with insurance now is that agents dont explain to clients why are they buying and what are they buying fully. 99% of the cust I see are clueless about what they bought and what is it for. Their agents mostly have either quit or changed companies. I myself cannot promise that I will be in this line forever. Its a lifetime commitment on the customers side but it would be unture and unreasonable for us to promise we will be there for the entire life of the policy.

 

What I can do is to teach the customer how to fish, rather than giving them a fish. As long as a customer is with me, they get a 6mthly review, after 2-3 reviews, most will know enough about insurance and how to cover or plan for themselves. They just continue buying with me because of the relationship and not because of what I can offer.

 

In actual fact, comsumers do bear some responsibility for themselves. Its like buying a second car, you do not research yourself fully or check the car before you buy, do you think you have a case to complain after that if the car was full of problems? Caveat Emptor. So many of them just choose to support their relatives or friends and just sign/pay without ever knowing much. If you are a consumer, whilst its probably silly to insist that the agent work at the same line for life, at least make them explain the mechanics and rationale of the plan and why are you buying a plan and if you should be getting another type of plan in the first place.

 

Remember, we are just agents/advisors. If you do not make it a point to try to learn or understand what you buy, you will always be on the losing end. Its not just about policies, even PSPs, used cars, renovations, resale HDB(basket just went to view 1 where there was still paint on the gates from loanshark splashing but nv wash away properly. Lucky i spotted !!!). If you dont know what u are buying, you will end up being a carrot eventually. Sadly with policies its a lifetime thing so the impact is so much greater due to 1 wrong choice.

[RadX]

Very well said. The term financial advisor is used too loosely.

 

How can someone who has just passed a set of SIMPLE papers be qualified to be called that?? Wat a joke!

 

As a matter of fact, they are just salesmen.

 

To add in, I've 11 friends who are financial advisors. Out of this 11, only 1 is really successful, 1 is doing OK.

 

The other 9, cannot even manage their own finances properly. I'm not talking about young punks that just graduated, these frens of mine are all in their late 20s to early 30s.

 

 

they are no different from car salesmen and honestly, they rank down there with politicians...i sacke my prudential agent and wrote to the co abt him

[RadX]

Y so defensive? I know u r an agent and I respect u for the effort u have put into your career.

 

However, can you point out which part that I had mentioned is untrue?

 

Oh btw, I drive an OPC also.

 

 

once they feel even a bit threatened they will bite back...bloody losers

[Rickster]

they are no different from car salesmen and honestly, they rank down there with politicians...i sacke my prudential agent and wrote to the co abt him

 

Wah, thats bad... must be something to do with investment products?

[Blueray]

I wrote in to the HO to request that they take my hp no off the calling list.