Aha, the infamous group! Now i know!

Janji dicapati, haha good one.

All those fancy cars.. with 3 digits number plates..

If you drive Proton they won't let you buy 126 number plate. But who's going to stop you? Would like to see someone drive cheap car with 126 number plate park beside them.

This post has been edited by JohnL77: Nov 30 2013, 03:16 PM

Especially if the person you married is an insurance agent.....

My Gf gonna join insurance agent, Habis loh

This is my estimate of how much insurance agents make based on the total commission paid out by GE in 2010 (RM700,000,000) figure provided by ExpZero. http://www.bnm.gov.my/files/publication/dgi/en/2011/L2.pdf
As you can see from this report by The Star - http://www.thestar.com.my/story.aspx?file=...tion%2f11929562 , my estimate is not far from the truth. The point is, majority of agents don't make enough to survive or don't make anything at all.

At first ExpZero laughed when I told her about the 20/80 and further 20/80 ratio, but after I showed her this calculation, she didn't have anything to say. This 20/80 estimate is common in sales line where you only earn commission, no basic.

But chill la, girls have secret weapon, hahaha.

This post has been edited by JohnL77: Nov 30 2013, 05:45 PM

I didn't laugh at your 80:20 statement by the way. Did I?

Well, if I'm still remember, I agreed with the 80:20 ratio thingy. This is the ratio in life even when I were working in a corporate, all the SMT got 80% of the total salary whereas we as executive only got 2k+-3k salary

Life is about how you going to become the 20% but not condemn about why I'm not in the 20%. This is not applicable in life insurance business only, but in every aspect including how you manage your own life in corporate world. I've seen my ex-colleague keep on complaining the boss for not promoting him but in fact he doesn't know his current capability and the reason the boss promote another colleague of mine. Some of my friends condemn about why they do not have gf but didn't manage themselves to a better state.

A lot of agent are having less than RM500/month commission, yes, five hundred per month not thousand, why is it that? Well, a lot of new agent will lose motivation after rejected by their prospect only after a few times. So, by selling a few policies and able to maintain about RM500/month, isn't it is better than work as part time food promoter in Tesco?

My own group's retention rate is about 40%, so it's not an easy industry. However, if you able to strive hard for your goal by giving awareness to the public about the importance of insurance, give them the real reason of owning an insurance policy, after 2-3 years, you are most probably can earn about RM5-10k.

In the end, it's all about yourself toward your life, if you are good in IT, go ahead and workout a new software, if you are having a good your physical figure, go ahead and work as actress/model, if you are rich, go ahead and venture into a new business. But if you are non of them, at least this industry is a good platform to help you to earn a little fortune at your own hardwork. This is not a magic industry.

Oh, I must have misunderstood you.

Yes yes, my calculation did show that the top 4% earn close to or more than a million a year.

Not complaining at all actually.

Yes, the 20/80 ratio can apply elsewhere too, especially now when it is believed that the top 1% of the world control what, 30-40% of the world's wealth?

Comparatively fields in which the majority of the workforce earn an average of 2000-5000 a month, the top 20% would be earning a gross amount of money.

Meanwhile in insurance, majority of people earn less than 1700 a month.

Just something to think about.

This post has been edited by JohnL77: Dec 1 2013, 01:05 AM

JohnL77,

But, on the other hand, is it that hard to be GOOD insurance agent??

1) How many insurance agents that you know directly and indirectly actually know their product well enough to sell the RIGHT product??

2) How many insurance agents actually check your finance to make sure that you have enough savings before buying insurance??

The competition is not as tough as you think. Most insurance agents only interested in selling as opposed to solving the client's problem.

It is VERY SIMPLE.

Cream raises to the top. People that are willing to put in the EFFORT to be the best in their area will do well. Meanwhile, the rest will whine why they are not doing well.

A simple survey around lowyat forum will tell you that there are not many insurance agents that know their stuff. Hence, is it any wonder that they will do well??

Dreamer

Yeah, agree.

For the exam, what is the frequency?
I mean, is it held once every week/month?

http://www.insurance.com.my/pdf/ExamFinalFA2013.pdf

Aha, thanks!
So is not fixed la, it depends on the timetable, hoho.

Oh yeah, Azurika said the exam is only RM100, if he remembers correctly. So, if any agency ask you pay more than that, be careful. OTS ask for RM250 to join. They arrange the exam and give you some files for use during sales pitch. RM150 for files? Hmm...

Good luck.

Don't usually the agency will pay the fees, as part of the employee's benefit? After all, without the certificate, the person is not allowed to sell insurance, no?

Hmm.. try PM Azurika.

Wondering, is the commission paid only when customers sign up and pay for the premium?

Then what about the assistance provided to the clients for claims. Does the agent receive commission as well?

No commission paid for claims. That is part of the agent's job responsibility. Insurance company needs to make profit

Paiseh. Then no fun la liddat.
I mean, if got clients to pay premium, then got commissions.
But assisting on the claims, no commission?

But then, those two are also considered as work done, no ?