quite stupid saturday...when Caleb was born, there was a free 6-mth insurance coverage for him by AXA. So naturally, when the insurance agent called, and mentioned to come on down our home to arrange the docs for us, we agreed. of coz we knew that he wld definitely recommend 'extra' products to us but we were v. strict on only signing the basic essential insurances.
so he came first time down and did the docs for us, and of coz recommended a whole set of additional coverages for our family but it was quite a hefty premium per mth and we realli didn't feel the need for such extravagant coverages. so politely turned down his offer.
now he called us a second time saying to deliver us caleb's completed insurance coverage, so again of coz we are ok with that and also expected him to recommend again to us strongly on more coverages.
and it was as such, giving us caleb's stuff, he proceeded to turn away to recommending a 'family' coverage. As i have an existing coverage frm an army fren of mine whom has given me appropirate coverage, he asked to review tt coverage. Well, wrong choice actually, as once we laid all our existing coverages, it kinda became clear to me which plan was the better one. The existing one i had was much much better then the one he was recommending to me.
What made me realli angry was that he kept insisting that the one he had was much better. I realli politely rejected him a few times as his plans realli needed me to pay premuims well into my old yrs. He had well proclaimed he was looking out for our finances and all tt, but his actions were unfortunately not in tune with his recommendations.
Some of his absurb recommendations include saying of 9% interest rate is easily obtainable because we are monitoring it for u, hence u dun have to worry abt ur withdrawal being non-guaranteed. And he quoted this example believe it or not...imagine..u bought stuff with us in 2003 and in 2007 when it reaches the peak, and sell it, u gain a 30% return! well tt is true and many might be enticed...but wat we want is just a basic coverage and not investments and if realli investments, we wld hld it long term..and tt means holding it beyond 2009 which means a 10% loss instead which he conveniently just blanked out.
I asked him why he ignore the latter part of the years from 08-09 and he said, "because we wld know to sell it 2007!" yea rite...realli can't believe it man.
more stupid stuff to come...
i showed him my existing plan and he calculated the compounded interest rate for it. And unfortunately, he calculated it wrongly and still told me the wrongly calculated result. Becoz of my previous cfa exp, i knew the right of calc but the thing tt angered me was his blatant lying.
And of coz, i was most angered when he kept insisting his plan is better and its better for my family but obviously his first priority is defn to get the deal done.
before that, i actually believed that he as a insurance agent with his professionalism, cared abt his clients more than getting a deal which i feel tt is the true valued thing tt makes ur job worth while and worthly of a call. but he realli changed my mind quickly.
I seldom am pissed off with pple but i realli wanted to highlight such insurance agents to all...there are realli those who care for u and ensure tt u get appropirate coverage but there are those, who quickly turn a blind eye to better coverages from competitors. forunately for my basic finance knowledge, i cld discern it better and in the end, i had to reject all his plans.
And worse, was that he originally suggested upgrade to MySheild paid using cpf, he didn't want to do for us as he doesn't earn any commision frm tt...well fine...dun wanna own him any favours.
well i understand that its his job and the hrs he spent on discussions with us, but its my family's money tt is in concern now and not just a one time payment but almost life time.
oh not to forget, when i kept rejecting his plans, he started to randomly come up with plans from all his AXA arsenal and ust randomly recommend this and that, saving that he wld like to at least have us sign a plan with us.
haiz...realli hate to do this but, he to me, his concern wasn't for us and tt pissed me off. if he calls me again, wil simply just reject reject reject.
tt are gd insurance agents out there,....and there are erm....no comments.. but well through out the whole thing, i was polite to him, offering him drinks, but realli unhappy abt his unthought of reommendations.
but wat struck me was also, paying premiums here and there, i am reminded of Christ' s saving grace for us which is ENTIRELY FREE. Freely given to us. Freely. And as we enter passion week, let us remember Christ dying for us, and we, reminding ourselves to live for Him!
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