A difficult choice

Hi Mr. Tan,
I am a insurance agent directly representing one of the insurance companies in Singapore. I have been in this line for more than a year now and have done pretty alright for myself. I joined this career as my mother was in this industry and encouraged me to join. Being a direct beneficiary of insurance as both my grandparents and my father tackled medical problems in their lives, I strongly believe in insurance and wish benefit people while making a living for myself.

Increasingly, however, I feel that my company's products are limited and not as competitive. For example, it is difficult for me to implement a BTITR strategy for my clients also as my company's term plans are relatively more expensive. I have explored the option of joining an IFA so that I can have a wider range of products to benefit my client, but due to the recurring nature of my income, it is not beneficial for me to do so.

What do you suggest I do such that I can do good by my clients and still make a living?
Tied Insurance Agent



REPLY
It is a difficult choice for you to make, but you have to find the answer that suit you. Some IFAs found a way to charge a transparent fee for the advice given to the customer.