Need help from Insurance Agents and Ex Agents

[Zipper95]

Hey everyone,

I'm a fresh grad from Uni this year, and you know how its like in the job market now. Desperate, I resorted to joining the insurance industry. Not saying its bad or not lucrative, its just that its not for me.

Ok the main point is that. I took 2 months of their "basic salary". However is says that if i leave i have to pay it back. I mean its fair considering the turn over rate of the industry. But the issue is what if I do not have the whole sum to pay it back for now? Will I be sued or something? I mean I'm ok to pay it back via installment etc but just can't settle it one shot.

Anyone with similar or seen similar experience mind sharing?

Thank you

 

[blurpandasg2014]

Is there a minimum period for u to stay without the need to return anything?

 

[Zipper95]

Is there a minimum period for u to stay without the need to return anything?

2 years. Thats too long LOL

 

[beefjerky]

2 years. Thats too long LOL

how do they lock u in for 2 years? they charge those course fees and exam fees?

 

[Zipper95]

how do they lock u in for 2 years? they charge those course fees and exam fees?

Based on the contract. If i leave within 1 year i must pay back 100% of the salary. If 2nd year is payback 50%. Thats why i mentioned im ok to pay back but not as a lump sum straight.

 

[terryhoho]

How much basic ?which company?

 

[Zipper95]

How much basic ?which company?

2k x 2 months. AIA

 

[iamveryguailan]

Is there a min sales quota to meet? If not just stay on and collect 2k without selling anything also can?

 

[xtwis7]

There’s no free lunch. If you think you can just sit at home and enjoy 2k every mth for 2 years without any penalty, you’ll be in for a rude shock.

 

[a4973]

There’s no free lunch. If you think you can just sit at home and enjoy 2k every mth for 2 years without any penalty, you’ll be in for a rude shock.

what if one gets fired ? still need to pay back the "bond"?

 

[xtwis7]

I doubt they’ll do it. Not too sure about such contracts that promise a min salary. Just know that there’s no free lunch in the world.

what if one gets fired ? still need to pay back the "bond"?

 

[ApolloStar]

You can pay via installment.

 

[havetheveryfun]

Hey everyone,

I'm a fresh grad from Uni this year, and you know how its like in the job market now. Desperate, I resorted to joining the insurance industry. Not saying its bad or not lucrative, its just that its not for me.

Ok the main point is that. I took 2 months of their "basic salary". However is says that if i leave i have to pay it back. I mean its fair considering the turn over rate of the industry. But the issue is what if I do not have the whole sum to pay it back for now? Will I be sued or something? I mean I'm ok to pay it back via installment etc but just can't settle it one shot.

Anyone with similar or seen similar experience mind sharing?

Thank you

u should ask the person who introduced u into this industry and promised this "salary", he should probably know better.

 

[exterminazn]

Do you even read and attempt to ask question regarding the contract before signing?

 

[Zipper95]

Is there a min sales quota to meet? If not just stay on and collect 2k without selling anything also can?

yes there is. 1st 2 months is free if you just attend the training. Subsequent months must hit sales

 

[Zipper95]

There’s no free lunch. If you think you can just sit at home and enjoy 2k every mth for 2 years without any penalty, you’ll be in for a rude shock.

Yea i know that. only the 1st 2 months is free for attending trainings and courses. Subsequently must hit sales to get the 2k

 

[Zipper95]

Do you even read and attempt to ask question regarding the contract before signing?

i did. so i know ultimately i have to pay back if I quit. 4k is not alot but at the same time i do not have the full amount. so im asking around if installment is possible

 

[Zipper95]

You can pay via installment.

Legit? okok thats good news

 

[Zipper95]

Stop loss please. Get out now, and pay it back in installments. 4k really isn't much in the long run...

yea man. im tryna find out if can pay back via installments

 

[cscs3]

2k x 2 months. AIA

Return the money and leave.