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 Insurance Talk V7!, Your one stop Insurance Discussion

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kimhoong
post May 11 2021, 08:41 AM

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Just a random question about agent or agency performance such as Top Agent or Top Agency etc etc as claimed by agents that engaged me. I tried to validate these claims, but Google couldn't find satisfying results to me.

Question: how do I validate if an agent claims that he/she is TopX agent/agency in certain region or nationwide?
kimhoong
post May 11 2021, 11:33 AM

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QUOTE(lifebalance @ May 11 2021, 09:35 AM)
Those whatsoever awards are within their own insurance company. You may call the insurance company to verify their claims.

However, what can all these award prove to you?

It just shows a person did a lot of insurance business for that period of time but will not show whether its an ethical person in their business conduct or whether this person would stay long in the business.
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I was engaged for business insurance and the agent claimed that her agency is Top X agency for consecutive Y years. I believe this serves as a branding or creditability for someone I just met for the first time.

You are right that it doesn't show "ethicability".


While we are into this, how do we evaluate the "quality" of an agent/agency that we meet the first time (normally from cold-call)?
kimhoong
post May 11 2021, 12:18 PM

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QUOTE(lifebalance @ May 11 2021, 11:42 AM)
Honestly you can't evaluate, just like the first time you go to a car showroom to test drive the car, how would you like the salesperson to respond to you?
1. Serve you drink
2. Ask you what type of car are you looking for
3. Ask relevant questions like you driving just by yourself or for family
4. Find the suitable car that fits your criteria
5. Let you test drive
6. Deliver your car, make sure everything is okay

If you want to find out how you'll be treated by this agent. Get them to do a full presentation and see if you like the experience or not.

If judging by just award alone, nowadays insurance companies simply show posters and award for even 1k to 10k sales. How is that relevant? I would have a cupboard full of awards by now if I keep all these 😅.
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Thanks for the detailed feedback. The car showroom analogy helps a lot!

QUOTE(MUM @ May 11 2021, 11:47 AM)
hopefully can get some tips from this site,...

Joining the insurance industry? Here's what you need to know.

https://www.asiaadvisersnetwork.com/Article?aid=61280
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Thanks for sharing this too.
kimhoong
post Jun 9 2021, 11:13 PM

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I'm studying TPD offering from GE & HLA.

GE = up to 70 years old (standard stuffs here) - no extension whatsoever after 70 years old

HLA = "TPD" up to 65 years old and "OAD" (65-100 years old)


HLA's sounds interesting but too good to be true. I'm skeptical about this OAD (Old Age Disablement).
Can anyone share its T&C?

 

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