Letting off some steam.

Most of them are arse holes trying to act smart, baru encountered with 1 smart alec agent from Allianz Life trying to sell investment to me. Problem is, he knows nothing about investment yet act smart like he dem pandai in investment.

Some more dare to intro himself from Allianz Life investment department and say he handle investment portfolio but totally clueless about how the stock market, inflation, the economy works. He is nothing but a LIFE INSURANCE AGENT. Basic financial planning and risk profiling pun tak faham.

The insurance entry exam PCE and CEILI don't qualify you, insurance agents, to talk about investment, it is a 2 hours exams one Saturday morning or afternoon, what makes you, insurance agents, qualify to talk about investments?

On top of that, insurance companies don't have a pure investment product, so what investment are you talking about?

If you insurance agent are clueless about investment, don't act smart to talk about investment. All your talk kok theories and crap will kill a noob trying to do some real investment and you look like a fool to old timer investor.

Go do your work lar, SELL INSURANCE!!

Another about most insurance agents are they are always RIGHT, always always RIGHT, client MUST always always listen to them. Clients views are irrelevant. You know s h I t but want to force others to listen to you.

And everyone knows must buy insurance lar, we bought insurance many many moons ago lor, we are covered lar. Our coverage way way enough. No need to keep pestering us to buy insurance, but trying to sell us using investment in disguise.

Go meet your prospect with some thing you know, not something you are totally clueless about.

Up yours!!

This post has been edited by lunchtime: Aug 22 2013, 08:16 PM

mind to tell us more stories ? such as how clueless is he towards the market ? maybe got some funny stories he created?

lol

What I dislike the most is calls from unknown agency that tried to promote insurance products.

H_ng Le_ng Assurance is the MOST annoying

So far not from them?

Mostly from B*S*N and today from Jer*nih I think.

Sometime, the bank of city.

Must be the cash savings plan.
They've been quite aggressive lately.

But many new agents misselling.

haha...carrying a title but selling dog meat.

HL usually calls you for saving plan not insurance plan.

I really don't like they calling few time promoting the products. I already said not interested, they still call me WTF

Well, even you said you already have an existing policy, they still want to explain to you!

thats why i ban all those insurance friend.haha

Yape, many banks today are also selling insurance... Often receive calls from those insurance companies who are also known as the banassurance companies...

Very irritating..

They only selling insurance unit thrusts la. And claim long term this and that when i can just buy government bonds and get better return them tehm.

Stupid insurance agents. I got so many frens doing that and one guy everytime se him is only talk about insurance. Even when he try very hard not to talk insurance somehow his topis will slowly move to insurance.

Even u haf policy they will try convert u to their company la to get commission from you. They have many tricks ive seen some hot stiming action from thec

I agree that agents should not be too arrogant when talking about investments when its not their expertise. Good agents know that the customer is not stupid but try to listen and understand more than they talk.

You will expect an agent to call you several times because thats what they are supposed to do. If you really have enough insurance coverage and you do have an active servicing agent, then let them know sincerely by telling them your situation. They will understand and its a better approach rather than telling them 'you are not interested'.

Be firm but also understand that agents are also human just like others, we are not perfect too and we do make mistakes sometimes. But at the end, we still have to try because having adequate medical insurance coverage (not savings/endowment plan) is very important.

great feedback!

personally i never entertain cool calling from any bank / insurance company. i will either tell them:
1. my agent is already serving me well and i'm happy to deal with her (which is real)
2. i'm not interested, thank you

This post has been edited by property101: Aug 23 2013, 09:05 AM

Thanks. Definitely the first approach would be better.

Never let the agent play a guessing game by coming up with a vague answer. Get to know what benefits or claim you can get from your policy. This is the basics that you should know and have in hand when answering agents. Else, get a policy review from an agent.

this agent sure not leng lui 1 ...make TS so angry

HLA a lot of lenglui agents de wo

pass some contact to TS and here la....we are willing to sit down and listen "investment"

No need de..u just go HLA at PJ there..can choose according to your taste
later i intro u, her insurance service no good u come find me

wooi ! ini insurance agent keh ....or match making agency

listen listen ok lah, but if date them, make sure you have deep pocket.

i'm fine with everything but i'm a property investors which I know what gain most in my line.

their savings plan simply too off for me

Insurance ma...u no see i say insurance service meh haha

i wan call HLA liao ....

Well, just to share with you.. I have been meeting also with a lot of egoistic insurance agent..

One of the agents who caught my attention was actually from PR_DEN_IAL...

He tells me that it is good to dump in the money into their endowment plan because according to him, he mentioned that the returns are very high, higher than the rates could be offered in other investment opportunities..

And so he prepared the proposal for me and i realized that what he mentioned was totally different from what illustrated in the proposal..

I tell him the returns are not as lucrative as he thinks, then i calculated to him.

He eventually used the sum assured as a benchmark to make people confused.. For them, the sell their plan using the POWER OF FIGURE, NOT THE INTEREST RATE..

SUM ASSURED in not the same as PREMIUM PAID..

This is an important note to know.

This post has been edited by smartinvestor01: Aug 23 2013, 12:26 PM

+1

So if an insurance agent know real investment like stock market can sell insurance better ?

exactly mate, well said.

power of figure comes from the capital

Actually why some of you don't dare to mention and type the company name in full? I've been wondering.
Like PRU_TI_L? Why not just type PRUDENTIAL?

It's not the insurance company problem.

It's the ethics of some agents, the agency or partnership company.

This post has been edited by David83: Aug 23 2013, 02:04 PM

If the agent is listening to the customer, then good.

But I had came across many time, it is agent talk only most of the time.
When customer said no afford, then start the "scare" tactic, see what if accident time, cannot work, your family suffer, so should take up this insurance that insurance. Insurance gives your peace of mind blar, blar.

I personally hate this kind of "scare" tactic.

Agent should always listen to customer needs and situation.
Not everyone can afford to have all the insurance. If really cannot afford, so be it. Forcing customer to over-commit due to sign up an insurance, can make the customer life more hard to meet the monthly commitment.

I had also seen insurance agent try to persuade a customer that not yet have income or steady income to commit into saving plan, cited got good interest rate.
Not yet have steady income, commit to saving plan?

Yes, no doubt there are still many good insurance out there, just sharing some unpleasant experience before.

Yes a lot of time insurance agent try to give all kind of scare tactic telling you need all kind of insurance, inflation lah, future education lah etc etc. They also sometime over promote the need for excessive coverage, which is 'harmful' instead of helpful.

When I tell them I have more than enough to self insure so no need buy certain insurance... they stare at me blankly, with their mouth hanging wide open.

Not everyone needs all kinds of insurance coverage some need more, some need less. Rule of thumb is the less wealthy you are, the more insurance you need, as you are less likely to be well prepared for emergencies.

My best insurance agent is the one that never call me one, instead if i need to discuss certain coverage I will call him for quotation instead.

This post has been edited by gark: Aug 23 2013, 03:41 PM

Most probably not. Normally agents who knows nothing on investment sell insurance better.

When those people called me, I would listen for awhile then say "go tho hel"

I super tulan, loud loud he intro himself from Allianz investment department. Ask me ignore inflation, avoids stock market.

Hello idiot, Allianz is 1163 on KLSE. Mana lu punya Allianz fund manager invest insurance float? In your endowment / cash saver policy / investment linked?

Basic investment concept pun tak faham, want intro investment.

Your endowment / cash saver / investment linked will mampus if your company mampus if economy mampus, you idiot life insurance agent.

Your talk kok theories about investment bring your client go Holland. Sure die!! Education and retirement sure mampus kaw kaw. But you want to lek, only you right, ALL must listen to you.

LL or not, I bor care, as long as deal with money, don't talk sh it.

Speaking of risk, if you don't know how to look left right before crossing the road, you mampus too.Same with all investment lor, bodoh.

Every investment have risk, only difference is how much / high

Insurance agents are totally purely BS to me. Especially one shitty look agent in LowYat

quick quick - contact info.
i'm looking to up my medical & life insurance - if can kill 2 stones with 1 bird, why not

sorry ar mods - i couldnt resist

This post has been edited by wongmunkeong: Aug 23 2013, 08:38 PM

Consumers themselves must learn to be smart too.

I wonder why one can't buy insurance without going through agents. I think I have a topic started some time ago with my thoughts that didn't get any replies.

Here's the thread: https://forum.lowyat.net/index.php?showtopic=2702276&hl=

This post has been edited by kelvinlym: Aug 23 2013, 10:26 PM

what do you mean by BS?

Yape, totally agree..

I dont have any prejudice on those insurance companies, but i have doubts and cannot help by having negative thoughts on some insurance agent who just trick and confused the consumers for them to earn their living..

Well, in their verge to hit the high achievers award and some to only hit the mission to survive due to no basic salary, conscience are put to the side..

what i don't like about insurance agents:

- They only show up when they have new products to sell to you
- they found out you got married, got baby - try to sell products to you

other times, wanna see their bayang pun tak da.... sms also no reply...

snicker... ahem: Roy.." cough cough".. Stevenung....

LULZ!!!

This post has been edited by xuzen: Aug 24 2013, 10:33 AM

No 1 common way insurance agents con/mislead consumers...

I personally dislike agent that try to sell life insurance to new born.
What the hack new born baby need life insurance?

Life insurance primary function is for the one that is financial pillar of the family, aka for the one can generate income.

we should be allowed to buy direct from the insurance companies and get commission discount, just like general insurance

totally agree with this

AHyoo . . . why this treat so negetive about agents 1 . . . . we are making a living also la
not all is like what you guys mentioned above, some agents are still good

agree.

my agent is one that really does her work. i bought a medical insurance for mother, she has high blood pressure hence there is a 75% loading on premium. again and again, the agent proactively followed up on my mother's latest blood pressure reading and appeal to the insurance company to lower the premium from the company. the premium is finally lowered by 25%.

another situation is, after i signed up my medical plan, the agent contacted me and told me that there is an extra benefit i can request, increasing hospitalization limit by 10% every 3 years. she drove to my work place, brought me the form, i filled up and she submitted for me at no additional charge.

again and again she has proven to me that she is here to provide valuable service. she has totally gained my trust. the next time when i need an insurance policy, i wont bother to survey others. really. i have dealt with couple of other insurance agents. this lady is a real deal. thumbs up for the agents who are really here to serve the customers.

+1

I totally agree with these

Bullshit.

It is a slang profanity term meaning "nonsense", especially in a rebuking response to communication or actions viewed as deceiving, misleading, disingenuous or false.

My stoopid Prudential agent sudah hilang 3 years, call call call, SMS SMS SMS also never return call.

My friend buy from her also same treatment.

When she return call, she say she busy with trip busy with sales busy seminar.

What service she provide? I have to do all the paperwork myself for the last 3 years.

If I say to her want to buy new plan, she come to my place like lighting. If service, bayang pun takda.

If I remember correctly a few years ago it came out in the papers that some female agents in Johor spend the night with those who buy a big life policy from them.

Another way of halting an approach is to tell them that you are working for a life company - just don't mention the same company as the one they said they are from.
It works every time for me.

Those insurance agents very fast when promoting & selling products, but very slow at after service (asking help, got doubt etc. )

wow! really? the guy would be very2 "happy" with them

Good Idea, I may consider it

Why don't you find for a solution rather than focusing on the issue in a less than positive light?

I will gladly help you anyway I could if you are holding a Great Eastern policy

Yes, this old idiotic look guy from lowyat actually even make me pissed off with insurance agent. He's from Prudential and I WON'T recommend anyone from buying from this company.

That is why NEVER sign up a LIFETIME commitment (ya know, those rubbish plan you need to pay all your life) with ANY insurance company. Read it more here http://iwannagedaway.wordpress.com/2013/08...ocent-customer/

Life Policy bought, agent no service, where got positives?

Find another agent to service? What is in for the new agent? New policy? Policies are non transferable from one company to another, not easy to transfer between agents of same company.

Who lose more, agent or me, the client? Got positive?

Wah Lau eh, I only random-random pick a name nia.... Didn't know it was him you targeted.

Roy, I have absolutely nothing against you and I think you are an absolutely hoh-sei-hor-liao guy. I'll still buy Prudential products.

Xuzen

P/S: Luckily therre is no Tu-lan thread on Public Mutual agent... phew!

This post has been edited by xuzen: Aug 25 2013, 10:30 AM

You want leng 1 and service on time one go OTS. I no contact for OTS wo.
Only Finno.
Koh TT agency also not bad I heard, but all smokers la

Hahahaha, want me to start a PublicM tulan thread? Luckily, PM agent haven't piss me off.

Insurance agent really piss me when they start selling something they don't understand and die die argue they are right.

Especially those agents who kena brainwash kaw kaw by their managers and believe their policy is the super duper all in one no.1 best in the world. Prudential and Allianz and HLA agents, you know yourself lor.


If you buy, they do disappearing act.
If you don't buy, they tell you if you mati, how?

If you have insurance, they tell buy more.
If you tell them have enough, they 'are you sure bor?' you.

KNS betul.

I know there are some good agents around, these are far and few.

Having said that, I rank insurance agent just as annoying as property agents.

Lunchie, you watch out, nanti all the leng-lui leng-chai agent start a thread to tu-lan back their lousy customers such as your good self. LOL!

Xuzen

Please keep your comments non personal, thank you.

I did ask why or what were you having problems with your Prudential in order for me to help and I am offering this service again.

Thank you for the offer. I don't need your help - first time impression is very important to me.

There is not much service involved for life insurance policy, unless erhmn touchwood.

But for medical or claims, you can contact your agent. Alternatively, if you are not happy with her service, you may transfer to another agent in Prudential.

The new agent will not earn any commission, but if the agent sees it as long term business, then he or she will provide the service. Agents gets up to six years of commission. Transferring the case to another agent does not obligate you to buy from the new servicing agent.

It is definitely not beneficial to the client to simply change plan, especially the medical as the medical coverage comes with waiting period and most important, it can only be bought when we are healthy.

This is a service industry and trust is something that needs to be earned, not expected.

If I am the sucky agent as claimed by some forumner, why am I promoting this in my blog?
http://www.insurancepenang.blogspot.com/20...urance-101.html

ANY tom d*** and h-agents can promote THEIR own blog or website. If you AREN'T sucky, YOUR customer will promote your blog. Not yourself.

Roy & Guanteik,

I am so happy you two are deeply, madly in love with each other and are professing your eternal love for each other in the open.

But as most are unrelated to this thread, how about .... GO GET A ROOM (in this case ... Private Message)

Now let's get back to regular our broadcast.

Xuzen

Noted

@xuzen
Though I may be glad to read your post, what I mentioned is RELATED to this topic aka why I dislike insurance agent. Well, thanks for the suggestion on your post, I shall stop here.

most of them are train to sell with fighting target, not train to sell based on client need..they not care, & never stand on client shoe to see they really need or afford. else how can so many agents drive big car??

buy from your close friend insurance agent,then get back all the commission.
but don't expect any advice or service from him lo..

soon BNM will step in this life / health insurance / agency structure. starting by cutting down commission paid. this issue already circle around the mouth of those senior insurance people(not agents) since this year.

but without agent, who would you look for when you need help? you walk in to buy insurance also can get cheat by counter sales person too.like what you get called by bancassurance telemarketer.keep on ask you buy buy buy..especially saving plan & PA policy..

Agency structure is an anomaly because I heard in UK, German, Aust, SG there is no agency but FAR type providers. I was one of the very pioneer non-HNWI to pay money upfront to use a FAR/CMRSL person to do my financial planning because of all the shit that TS mention earlier. I took their service way back in 2009 when there were hardly any planners around. I contracted one from SFP.

Xuzen

Previously when we buy shares and unit trust, we must go through agents. Now we can invest ourselves directly without agents. That is because we are now able to get all information easily ourselves to decide. Why can't we make insurance a simple task too ?

Insurance companies and agents try to make the policy complicated. There are too many options in choosing a policy. They try to add in as many options as possible. When it is too competitive, they have to go with product differentiation to confuse consumers. To the point that you can't compare policies from 2 insurance companies

If BNM can standardise the policies, then buying insurance will be much more simple. Just like buying car insurance we don't have much choice in modifying our policy. I don't find buying car insurance a hassle. But when choosing life and medical policy, it is such a confusing process.

If policies are standardised, the insurance companies can then focus on providing good service like ease and speed of claims. Isn't this criteria the most important when we choose insurance company ?

This post has been edited by EddyLB: Aug 25 2013, 06:20 PM

AhRoy,

Change of address, change credit card, change payment frequency, change benefits, change funds,

Whose job are these, agent or client?

As you said, trust must be earned, not expected. How to earned the trust when agent BS kaw kaw during sales talk and do Houdini after sales?


My stoopid Prudential agent is long term agent, but service is crap, what say you?

Always busy trip busy seminar busy meeting busy everything except service.

That Allianz insurance is all BS, yet when i check check his background, he also long term agent. Got win award type but full of BS.

I agree with EddyLB, BNM should make it simple for enduser,

Insurance simplified is
Life
36 CI
PA
medical card

Why susah susah add those BS savings investment?

You can opt to change agent if he or she is not doing you justice.

For the above services you mention I can email you the forms, fill up, sign and rescan via email. Nothing to it. Unless you change them every month?

Even on claims, you may call me if you need help. If you are at KL I will even bear the courier costs.

Aiyoo AhRoy,

I am not asking you to service me but thanks for your offer, I am asking whose job are those, agent or client?

Why must agent do Houdini? I beh song.

YES! you are right! Look at US, Australia..no more agent - agency. actually agent exist last few decade when public not so aware about insurance. but now some of the public even get more experience than those agent..so i think its time to change.

SFP is 1 of the largest player in this INDEPENDENT financial advisor in the market, in malaysia only got 13 of them get both CMSL & FA licenses. Glad to see you seek their advice in the early 2009

act BNM already standardised most of the insurance policy T&C, almost 70-80% is same among most of the insurance comp. but there are still some different among them. like termination clause, term of claim.

btw there are still many good agents around, some really helpful when you need claim. but it really depend on your luck to found he/she out of 80k of insurance agents.

Of course its agent job to help. Houdini act does not help in future business

dat day an uncle approach and talk about unit trust ....but he seems very experience and good. but selling skill more or less like insurance

u really

Product options are for the purpose of tailoring to customer needs also. Different people have different needs, hence the need for product differentiation.

Which is why it is the role of the agent to listen, advise, consult and to let the customer understand in a simple manner. For a customer, life insurance is not easy as car insurance because life insurance got several limitations that are need to be aware of. This is because of the nature of insurance, which poses risks to the insurer. Agents are required to attend constant trainings and product knowledge updates every week which of course makes them more proficient at the subject matter than customers. You can't entirely do away with agents, if the customer is sick, who is gonna claim for the customer?


An agent with many awards doesn't mean anything. What it means is that they are a good salesperson. Does an insurance company give an award for the Best Service? That is why selection of a good agent is not that simple really. Need to do some research and good judgment. There are a lot of good agents out there that deserves and needs the support who are also willing to service you if given the chance to do so.


Insurance will be mixed with savings and investment because most of the policies nowadays have a return or bonuses attached to them. Insurer have to honor the policyholders by giving them an acceptable bonus. All these comes from the funds of the insurers. Investment-linked products transfer risk and liability to the policyholder to choose the funds according to their risk appetite and to manage their return.

Endowment or Savings plan as you call it allows the policyholder to choose an alternative form of savings vehicle to store their savings systematically locked away for a long term period to secure their savings and also to get a additional yearly bonus through sharing of the company's annual profit, depending on how much they make in that particular year.

Basically, in today's challenging and complicated financial environment, even insurers have to adapt and you see all this kind of protection plus savings vehicle appearing nowadays. For the customer, the main concern is still the customers protection needs and the budget, leave the others for a capable agent to worry about. Like you said, make it simple for the customer to understand.

If insurance no savings investment, insurance can be cheaper, right?

BNM can make it like those car / accident insurance, make table with different coverage and premium, enduser just pick according to need.

For claims, insurance company can send service person to come do service.

What is complicated?

Now insurance is complicated because got investment savings, if no investment savings not complicated. See motor insurance, where got complications?

I meet an insurance agent before, she talk crap to the hell to the sky like I will die bad if I do not have any insurance in the end I bought from her but eventually when i needed her to assist on the medical claim she is gone. I immediately I abandoned the plan not to benefit her anymore until now I not yet get anyone that I truly trusted for it.

At least she dont talk nonsense that you will get exhorbitant returns from the plan. Insurance is for protection, never for investments.

There are life cover, critical illness cover, medical cover, all meant for protection.

You buy the insurance cover for yourself rather than for the agent. Agents are also human, silap haribulan may end up standing in front of a lorry

The coverage is by the insurance company and the claims are being paid by the insurer, not the agent. In the event of a claim, you can call the customer service if the servicing agent is no longer in the business.

juz some of them very annoying when selling plan

Agree 100%

Now insurance company is not selling pure insurance (ie cover for mishap, accidents etc). They are also fund managers.

Like car, fire and PA. Clear and simple. Car we can choose additional option like windscreen cover. Fire insurance we can choose what additional stuff to cover like landslide, explosion, flood etc. Charge the customer accordingly. Which is very simple.

But life and medical insurance they throw in this rider that rider, this additional benefit that additional benefit. What we want is just pure insurance, ie when unfortunate mishap happens, just pay me (or my family) and make me feel better and monetarily secured