Tuesday, September 28, 2010

Half truths about Life Insurance [2]

An insurance agent is highly trained to use emotional and other reasons to persuade a consumer to buy a life insurance policy that gives a poor yield for the years of savings. Some of these reasons are half truths. Be aware about these half truths. Search for "half truths" in www.tankinlian.com/ask.aspx.


zhummmeng said...

How to make informed decision without complete information?
Maybe MAS can answer this question.

Spur said...

Sad to say when I was previously with a well-known local insurer, we would be pressured by the GM to simply come up with a cock-and-bull story in the KYC just to meet nice targets for LIA. The GM and sales managers even came up with a collection of various "stories" for the so-called factfind analysis. Different stories to cover the various wholelife, single and regular premium endowments, ILPs and the various funds, whether for "risk averse" or "understand & able to take risks" customers.

The consultants just need to copy & paste the "appropriate" story into the KYC, change the names and dollar figures. I think there were about 30 different type of stories by the time I left, soon to become like 10-year series.

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