Monday, December 31, 2012

FISCA Talks for 2013

FISCA talk. I urge readers to register for the FISCA talks to be held over the next few months. Details are available here:
The talks are for three hours and the fee is $10 (FISCA members) and $30 (non-members). Join FISCA ($36 a year) and get back more than your fees when you attend two talks.


zhummmeng said...

When IFPAS begged MAS not to change the compensation model from commission to fee based it argued that many rice bowls will be broken. This is an admission that members of this salesman association are not qualified as advisers but salesmen who push and peddle products for commission.This is a dangerous sign if MAS buys this argument because consumers won't be getting objective advice but products that are result of conflict of interest and products that pay the agents high commission. To play safe don't buy insurance from insurance agents.
Also remember a few CEOs came out to speak against the change?
One CEO claimed that if MAS banned commission there will many more POOR PEOPLE under insured. Hey!! since when CEOs are concerned about the poor people being under insured?. If the CEOs are concerned about poor people why do their agents peddled expensive, high commission products that leave the poor people poorer and under insured when term insurance can do BEST? Craps, cry crocodile tears? No..hippocrates, charlatans!!!
Then there was one female CEO who claimed the change will make her 'cars' (agents) inadequate , unable to travel on the moon. Sure, how can salesmen be qualified and competent to advise for fees?
Another CEO said that if MAS made change to fee based his company cannot attract people to join.So? attract what kind of people to join? I guess he was thinking of greedy, unethical engineers and accountants who see the industry as get rich quick scheme, like the MLM.
You see CEOs too have vested interest to keep the commission driven model because if fee based is introduced alot of their agents will eat grass and shit in the agents' broken rice bowls.
As for consumers, you can see the signs and the true colors of the industry players, the CEOs, the agents. They are not interested in your financial health but their own pockets.
To protect yourselves, just in case MAS bows to the pressure of these players, do attend MR. Tan FISCA talk to learn the truth so that you would not be conned by insurance salesmen.For a small fee you will save thousands and thousands of dollars learning the truth of life insurance and investment.

anonymous said...

Attendence fees for members for the 2 talks are $10x2 or $20. Joining as member cost $36. How to get back more than my fees when I attend only two talks? Need to attend at least 4 talks.

Btw, rumour has it that MAS will maintain status quo, i.e., it agrees on that the commission model is really good for consumers after all.


zhummmeng said...

I agree but for the meantime. The commission will be reduced drastically to 50% in total.50% is still high for leg work, reading the brochure and form filling job. You know the petition writers charge only $10 per form.It should be 30% (10% first year and 5% for the next 4 years)spread over 5 years to disincentivise the agents to push products.

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