The maximum percentages of agency commissions payable on a life policy with premium paying terms of 20 years or more shall be as follows:-

Commission to agents 110% of annual premium
Overriding commission to agency leaders 41% of annual premium
Production bonus and persistency bonus to agents 15% of annual premium
Production bonus to agency leaders 5% of annual premium
____
Total 171% of annual premium

You pay her 171% and u expect her to do nothing? She should lick your foot and chew the dust u walked on.

His friends should be only agents. So only get 125%. (Note: This will be divided into 6 years)
Let say his premium is RM3000 per year.
125% of RM3000 will be RM3750.

RM3750 divided by 6 years is about RM52 per month.
In the return, the agent need to service him for the whole life(if his friends does).

Just to let you all know that agents main after sales service will be making claim for you.
If he got no problem, why the agents need to come to him? Of course if he call the agents then the agents do nothing, it will be different case.

So don't say that "She should lick your foot and chew the dust u walked on." We are selling our service for the whole life, so please give us some respect.

This post has been edited by c.o.o.l: Jul 7 2009, 06:48 PM

Yup thats what i think... Agent's responsibility are to help to do claims and so far i dont have any so i have no comment on the service..

Im just interested to know about the coverage.

So what is your concern about the coverage?
Just how many types of illness? or?

If you dont mind,
we can set a meeting,
to help you do a Financial health check thoroughly,
and ur policy review,
i nit to understand you financial status only i can know wat u really need,
if you can give me a chance to be in ur service,
pls pm me ur contact number,
or contact me @ 017-2917130
DARREN

yes agent should service client
insured should also learn to survive without agents

can anyone help ? I am looking for H&S coverage for
38 yo male
37 yo female
9 yo female
4 yo female
1 yo female

right now, I only have this at hand ...

annual limit 150k
lifetime limit 10x
no Co-insurance
got card
room rate $300

38 yo male $751.20
37 yo female $1,102.80

I don't even know who the underwriter is ...

updated : I am quite sure above is from Allianz now.

This post has been edited by mtsen: Jul 22 2009, 12:26 PM

Looks like your current medical card quite enough for you already. Are you looking for an additional top up ? e.g. outpatient benefits?
If you wish to know more about Prudential product, feel free to PM me your contact.

very headache with insurance stfuff

mtsen,

didnt know you are looking too

i think before anyone can offer anything we should know what you expect from the package, how long you want to get insurance, what are your special requirements and last but not least how much do you want / can you spend on the premium. not just today but when you are 70 or 80 or 90 even.

for me , all the insurance company is the same....

the most important 1 is choose for the "Reliable" agent

thats all...

hmmm,

i always try to eliminate the agent and reduce my premium through direct insurance. the savings are massive and claiming is not terribly complicated. also some of the extras offered are really attractive i find agents tend to sell you too much insurance, wrong insurance which is more profitable to them, are biased to the companies they represent and in general can give little actual advice. at least i have yet to meet an agent that gives impartial advice.

Yeah, too many agents out there who don't even know what they are selling. They only know a few products of their company, and pushing products instead of getting to know the prospects needs.

I experienced that before, and I politely ask them to go away. None of them actually follow up.

It's true that plans from each companies almost the same but I do not know that walking in can get us cheaper deal. Though I know it's now available for Car Insurance.

Vitorbarbosa,

many insurers have been giving the walk in customers discounts equal to the agent comission in the past. i have been getting them since 2000 but you need to ask. not all insurers do that. MSIG, Tokio Marine and AXA refused so far. In that case you can always look for an agent and request point-blank to share comission. many will do it - personally i believe the comission is way to high. a recurring comission of 15% of my premium or more is just disproportionate to the work done. a comission of 10% might be acceptable if you have a good agent but more? my share my car insurance comission, health insurance comission and i enjoy full agent discounts on houseowner, householder, PA (25%! - mind you), my mom-in-law's PA, personal liability and pretty much every other insurance we carry. the only insurance i am stuck with paying full price at the moment is tokio marines health insurance. the agents for TM are hard to find and they have so far all refused to split. in that case i still go direct as i dont like to pay them too much. i will keep requesting the agent discount from TM though - eventually insuerer will be giving them and it will be a marketing instrument too. its only starting with car insurance now and it will spread. so agents will have to start splitting on a large scale if they want to survive in the coming years.

oh no, these are my NEW needs. I got quotes from Prudential. The price is almost double. And I am guessing what I can get back is ease of understanding ie. they have the least rules or limits, as if they will try their best to pay 'all' claims.

medical or H&S is the most headache, OMG ...

I wasn't but after reading all your posts, now I am topping up too
I may just want to cover myself up to 55 or 60.


i usually 'try' to eliminate agent too, but I may need to give exception in medical plans, I don't know yet ... still analyzing ...

like wise, more buyers do not know what they are buying

I have been paying 40% commissions to agents in my traditional policies half of my life, todays' 15% - 25% seems like a good rate or good trend to me if the agent does nothing, then its too high. but if the agent pamper me well, its ok to pay

mtsen,

i agree for H&S an agent can come handy. i also have one there

show us the details of your PRU plan and we can take a look. the life-time limit is a put off if you ask me. also the cover seems low for the premium you pay you should be getting 250k for this price with life-time limit of around 200k without.

Pru med card, as usual, is attached to a Life plan, that's why it's almost double. I got those Pru quotes b4...and the agent said Pru will not sell Med card alone..

abothen? they will come as double? wait.. quite confused dy, we join Pru then we will get the life plan n med card as well?

Prudential medical card is attached to ILP.
In Prudential ILP, need to have at least 10k for Life/TPD.
Also, minimum premium per month will be RM100 for the ILP.
So, depends on you to add on any benefits you needs apart from the minimum 10k life/TPD.

mtsen, did your Prudential quotes is with 10k life/TPD + medical card?

Yeah, now thinking, agent might be replaced by technology.

BNM rejected the proposal to have insurance online. But I think in the future, they will definitely going into that.

it's just a matter of time. in europe allianz opened allianz24 just like many others. no agents, direct internet - and guess what: premiums are around 30% below the regular rate. and this is the same for most other insurers too. i look forward to this beeing just an agent for one company is not good enough. i guess there will only be a future for impartial insurance advisers. at least i would love to pay one to do all the comparison work me. at my hourly rate i am investing several annual premiums into the research alone *sigh* i rather pay someone else a few hundred bucks or so to do it for me on a regular basis.