thanks mate!

Thanks for highlighting.

every insurance agent will surely promote the good side of his/her own company.
1 question here: As a student who is now studying at University, do we need an insurance for future stability? As far as i know, every university student have their own insurance attained from his/her university. If i am not mistaken, it is included in our tuition fees every year. So in this respect, do we still need an extra insurance?

sorry TS, i just quit insurance industry after 6 months, i can't get a single client to sign up a policy, it's even hard to make appointment through the phone and customers shove you off the window, if you want to join as an insurance, make sure you got a lot of family member to suck up from and sign ur policy or you're dead within 3 months

1. You must know what kind of insurance benefits the university has provided to you, as their students.
2. Do you have any income source? I believe your parents may have signed up some insurance plans for you too. Do check with them.

You may need some insurance when you're working in future, like medical insurance and life insurance. You can consider some investment linked plans in the market. But most importantly, remember insurance is to manage risk, so determine your risk before sign up. Don't buy an insurance plan because the plan is good, buy the plan when the plan meets your needs.

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Added on July 23, 2011, 4:01 pmThanks asdzxc.

Not sure what happened in the past 6 months of your life with insurance business. But at least now you know, it's not easy to be "us".

Mind to share some details with me? PM me. Thanks.

This post has been edited by michwaka: Jul 23 2011, 04:01 PM

"Insurance Indusrty" is more than just being an agent..in broader scope, insurance industry involve a lot of things more that what you normally see. In insurance industry there are underwriters, actuaries, reinsurers, surveyors, claim dept, broking dept and many more who work for insurance company..

So if u want to join insurance industry it doesn't limit just to being an agent..of course agent is where u can easily make money..there is more option u actually have other than what normal people see..

so if no liability then i do not need to buy insurance ? cause my car loan all settle, i stay at my house which parent give. my wife earning more than me, dun need me to support leh. no children also yet ?

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Added on July 23, 2011, 6:56 pmwow so many which earner better ?

This post has been edited by ivanswk: Jul 23 2011, 06:56 PM

What about you can't work one day? Think of how much do you need if you're disabled or diagnosed with critical illnesses. You can't expect your wife to support you.

And. Get yourself a good medical plan with full access to lifetime limit.

I guess the CEO would be the best earner..

Yeah..no liability u don't need insurance..unless ur company doesn't provide u with medical insurance..else company's medical insurance is enough..

Hi,

If my company already buy insurance for me then its the same as I get my own personal insurance aready right?

what is full access to medical limit? tq , do I need to pay then reimburse or is it cashless card?

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Added on July 23, 2011, 9:05 pmhow to become insurance ceo? wat qualification need woh?


This post has been edited by ivanswk: Jul 23 2011, 09:05 PM

Yes, if your company provides you medical benefit, it's good, but you must know how much are they cover medically. I would suggest you don't risk your life not getting your personal medical plan, as when you grow older, may not be healthier than now.

All medical plan has annual limit and lifetime limit. Available in the market now, lifetime limit is always 10 times the annual limit. Says, your A/L 100k p.a., so your lifetime limit is 1mil till your coerage age of either 70 or 80. Full access to lifetime limit means you don't have a annual limit, only lifetime limit.

Many life insurance companies offer Cash-less medical card. It's either co-insurance or co-payment.

Be wise in planning your future now.you have options now, but you may not have the luxury of many options in future, especially when you are ill and old.

3rd is HLA ?

If age 55 only start buy insurance the premium will cost how much per month?

If buy early around age 28-30 then cost how much?

Yes, if your company provides you medical benefit, it's good, but you must know how much are they cover medically. I would suggest you don't risk your life not getting your personal medical plan, as when you grow older, may not be healthier than now.

how long and how much is the agent getting from every policy sold? thanks

It depends on what you want to have in your plan. A simple plan with medical card at age 28-age 30 will cost $150 a month. Level premium.

Benefits roughly
Basic life. 20k
36 critical illness cover. 20k
medical plan of room 100 per day

At age 55, this plan will cost you around $250 monthly

so if i buy the plan at age 28-30 i will pay rm150 for whole life? wont increase?

or every investment-linked plan sold, an agent earns 20% basic commission. (Very transparent, because nowadays commission disclosure is provided in quotation)

Average commission breakdown over 6years:
Year 1: 20%, Y2: 20%, Y3: 13.5%, Y4: 18%, Y5: 15%, Y6; 15%

So, if customer A bought an insurance plan of $200 premium monthly.
$200 x 12mths x 20%=$480yearly commission
Assuming 4cases closed a month, in a year
48cases x $200 premium x12mths x 20%=$23,040yearly commission.

If consistently perform as this level, after 3 years...
Year 1 =$23,040
Year 2 =$23,040 + $23,040 (Y1)
Year 3 =$23,040 + $23,040 (Y2) +$15,552 (Y1)

Hope this info helps.

blanket84,

No. The OWNER of the insurance company earn the most money.

Dreamer