Insurance Agent Ethics on presentation for clients

[boxybaby]

Hi all

I would like to seek opinion of my agent.

A few days before my birthday, she tried to upsell me an ILP which covers Early Critical Illness. She proposed to me a premium of $2880 with smoker status. (was a smoker for years but I have reduced to being a social smoker for the last 15 months which I probably smoked about 10 sticks per week) I told her it is kind of over my budget as I am also servicing my first ILP policy I bought from her 6 years ago and other policies that I bought from other agency. She then suddenly say she can revised my premium to lower by changing my smoking status to non-smoker because I do not smoke as much as last time and the premium was greatly reduce to $1700.(do note that my first policy with her 6 years ago is declared as a smoker status)

At the same time, she is also pressuring me to sign immediately as the premium will be much higher once I hit my birthday. While sharing the policy, she also say her company invest on good funds and she can promise a 8% returns 25 years later.

I know I am being ******** by her. Any opinions on how I should go about dealing with this agent?

 

[boredboiboi]

Hi all

I would like to seek opinion of my agent.

A few days before my birthday, she tried to upsell me an ILP which covers Early Critical Illness. She proposed to me a premium of $2880 with smoker status. (was a smoker for years but I have reduced to being a social smoker for the last 15 months which I probably smoked about 10 sticks per week) I told her it is kind of over my budget as I am also servicing my first ILP policy I bought from her 6 years ago and other policies that I bought from other agency. She then suddenly say she can revised my premium to lower by changing my smoking status to non-smoker because I do not smoke as much as last time and the premium was greatly reduce to $1700.(do note that my first policy with her 6 years ago is declared as a smoker status)

At the same time, she is also pressuring me to sign immediately as the premium will be much higher once I hit my birthday. While sharing the policy, she also say her company invest on good funds and she can promise a 8% returns 25 years later.

I know I am being ******** by her. Any opinions on how I should go about dealing with this agent?

As long as u got smoke for past 12 months means u r a smoker. If sell u a non smoker will cause your plan to void when claims comes. You should look into term or wholelife and not ilp anymore. But first of all who is your dependents? Do u need the plan actually? And for invest there us no way to promise a return. 25 years later your agent might not be around anymore. Freelook first and decide later. For ilp, your cost of insurance will increase over the years. Which insurer by the way?

 

[Geeezz]

Hi all

I would like to seek opinion of my agent.

A few days before my birthday, she tried to upsell me an ILP which covers Early Critical Illness. She proposed to me a premium of $2880 with smoker status. (was a smoker for years but I have reduced to being a social smoker for the last 15 months which I probably smoked about 10 sticks per week) I told her it is kind of over my budget as I am also servicing my first ILP policy I bought from her 6 years ago and other policies that I bought from other agency. She then suddenly say she can revised my premium to lower by changing my smoking status to non-smoker because I do not smoke as much as last time and the premium was greatly reduce to $1700.(do note that my first policy with her 6 years ago is declared as a smoker status)

At the same time, she is also pressuring me to sign immediately as the premium will be much higher once I hit my birthday. While sharing the policy, she also say her company invest on good funds and she can promise a 8% returns 25 years later.

I know I am being ******** by her. Any opinions on how I should go about dealing with this agent?

total bs. firstly ilp you have to choose your own fund, does not get to do with her company. and people who are invested into the market would know that promising 8% is impossible.

 

[boxybaby]

As long as u got smoke for past 12 months means u r a smoker. If sell u a non smoker will cause your plan to void when claims comes. You should look into term or wholelife and not ilp anymore. But first of all who is your dependents? Do u need the plan actually? And for invest there us no way to promise a return. 25 years later your agent might not be around anymore. Freelook first and decide later. For ilp, your cost of insurance will increase over the years. Which insurer by the way?

IKR! that is why i know she is trying to BS me. if i kana any smoking related disease, it will be my own fault because she will say I sign the policy and knowingly bought a non smoker plan. That is how ethical she is.........

I am not looking into ILP. but she upsell me that because she said all her policies are also ILPs and her company has been always doing well in ILP.

 

[boxybaby]

total bs. firstly ilp you have to choose your own fund, does not get to do with her company. and people who are invested into the market would know that promising 8% is impossible.

She help me to choose the funds.. I have never get a chance to choose and she didnt even give me an option to ask if I want to choose?

Anyway I made a mistake 6 years ago by not understanding my needs and situation thus she managed to convince me to sign an ILP. I regretted not finding out more throughout the years until now.

 

[Taloona]

She help me to choose the funds.. I have never get a chance to choose and she didnt even give me an option to ask if I want to choose?

Anyway I made a mistake 6 years ago by not understanding my needs and situation thus she managed to convince me to sign an ILP. I regretted not finding out more throughout the years until now.

What's stopping you from just walking away? Do you really need to entertain her? She is likely to earn the most commission from this policy.

 

[xtwis7]

If you still went ahead, she must have set a gongtao on you or you got something out of the deal.

It’s not that you weren’t aware.

 

[boredboiboi]

She help me to choose the funds.. I have never get a chance to choose and she didnt even give me an option to ask if I want to choose?

Anyway I made a mistake 6 years ago by not understanding my needs and situation thus she managed to convince me to sign an ILP. I regretted not finding out more throughout the years until now.

Let me guess, prudential? Just freelook it now. Even she choose then funds for you, she must present to you what fund she buys. And also ask her show you what is the return for the first ilp u bought. Plus is she selling u coverage or is she selling u investment or what do you need?

 

[moejoseph]

She help me to choose the funds.. I have never get a chance to choose and she didnt even give me an option to ask if I want to choose?

Anyway I made a mistake 6 years ago by not understanding my needs and situation thus she managed to convince me to sign an ILP. I regretted not finding out more throughout the years until now.

Seek out alternative ethical agents' opinions. You can get a term or whole life with decent coverage.

 

[boxybaby]

If you still went ahead, she must have set a gongtao on you or you got something out of the deal.

It’s not that you weren’t aware.

do not need such nonconstructive comments. but still thank you to waste a few seconds of your life to reply.

 

[boxybaby]

Let me guess, prudential? Just freelook it now. Even she choose then funds for you, she must present to you what fund she buys. And also ask her show you what is the return for the first ilp u bought. Plus is she selling u coverage or is she selling u investment or what do you need?

haha not Prudential. it is G. anyway i got my policies sorted out.. i have free look the policy today. i am asking what are the general opinions of this agent who declare my smoking status and promising a 8 %.

Anyway thanks for replying with useful comments and suggestions =)

 

[boxybaby]

Seek out alternative ethical agents' opinions. You can get a term or whole life with decent coverage.

yup done that already, thanks. now just thinking about this unethical actions of this agent for under declaring my smoking status and promising a 8% returns

 

[Mephist0pheLes]

IKR! that is why i know she is trying to BS me. if i kana any smoking related disease, it will be my own fault because she will say I sign the policy and knowingly bought a non smoker plan. That is how ethical she is.........

I am not looking into ILP. but she upsell me that because she said all her policies are also ILPs and her company has been always doing well in ILP.

U sld write to the insurer immediately on the smoking part to clarify if your plan will be void if u Wan to make claim on smoking as well as non smoking related illness

On the 8% return, is there evidence that she said it?

 

[boredboiboi]

yup done that already, thanks. now just thinking about this unethical actions of this agent for under declaring my smoking status and promising a 8% returns

For sure mis selling on the 8%. You just bought a term or wholelife with the same agent? Ilp freelook might not get back full premium, might lose or gain depends on the market movement when incept and freelook.

 

[boxybaby]

Nope. She said only. So I am shock she give this kind of assurance. But obviously I do not believe her. Anyway I have free look the policy. Thanks!

U sld write to the insurer immediately on the smoking part to clarify if your plan will be void if u Wan to make claim on smoking as well as non smoking related illness

On the 8% return, is there evidence that she said it?

 

[boxybaby]

My first policy with her 6 years ago was ILP. And now she wanna sell me another ILP. I just freelook and I didn't pay the whole premium that time because I took up the monthly payment from dbs. Paid about $140+. But i may lose some transaction cost from the bank when I freelook.

For sure mis selling on the 8%. You just bought a term or wholelife with the same agent? Ilp freelook might not get back full premium, might lose or gain depends on the market movement when incept and freelook.

 

[boredboiboi]

My first policy with her 6 years ago was ILP. And now she wanna sell me another ILP. I just freelook and I didn't pay the whole premium that time because I took up the monthly payment from dbs. Paid about $140+. But i may lose some transaction cost from the bank when I freelook.

Most likely u wont lose that much. Is the buy and sell of the unit in the ilp plan. So now you are looking for critical illness plan to cover the shortfall gap?

Monthly payment from dbs? The mean the installment right? Then you are actually paying full to the insurance company.

 

[m/mink]

haha not Prudential. it is G. anyway i got my policies sorted out.. i have free look the policy today. i am asking what are the general opinions of this agent who declare my smoking status and promising a 8 %.

Anyway thanks for replying with useful comments and suggestions =)

Report this lying bitch for fraud.

Smoker/Non-smoker is false declaration, your policy will be voided when it comes to claims many years later. That is one big loophole for insurer to exploit.

Projected returns on BI in black and white also can change due to "market circumstances" and black swan, who is she to promise a 8% annual return?

You think you can still find her by then?

 

[m/mink]

My first policy with her 6 years ago was ILP. And now she wanna sell me another ILP. I just freelook and I didn't pay the whole premium that time because I took up the monthly payment from dbs. Paid about $140+. But i may lose some transaction cost from the bank when I freelook.

Did this happen in late July?
She's just using you to meet her end of month quota ...

 

[FortAir]

I don’t get it why she needs you to sign. Just because it’s your birthday. There’s such a thing call back dating