Tuesday, May 22, 2007

Unethical practice of selling

Life insurance selling is a professional career. Those who profess as insurance agents have to be committed, responsible, honest, has integrity and principle, ethical, has a caring heart, fair dealing with clients and principle representing, and prepared to work hard.

With these many years of selling life insurance, I had encountered many who were considered as black sheep to our industry. They had never honoured the above rules and policies for selling professionally. They sold for the sake of self interest and to make profit instantly without the consideration of their clients and companies. I felt disgusted with their unethical practice and behaviour.

I take this opportunity to relate one typical case for illustration. There was an agent who looked presentable and spiritually incline at the beginning. He sold an insurance plan to Mr X two years ago. Agent was not doing well in his business. Mr X was not healthy then. Out of desperation, he sold Mr X a policy without declaring his actual medical history. Two years later, Mr X was confirmed to have diagnosed with advance stage of cancer. He is currently under heavy medical treatment but agent advised him not to claim his sickness benefit. Because both of them had not disclosed this fact of health on submission of proposal to the insurer previously. The agent has to wait for a death claim. It sounded cruel for waiting a client to die before a claim is payable. Meaning, claiming the sickness benefit now might create suspicious and perhaps claim might be denied later.

I considered the above arrangement has intention to cheat, which isn't fair to the client and the insurer. The agent's dishonesty and unethical way of advices, had not helped the client's needs, except for earning commission and incentives for himself. He had unnecessary created fear and uncertainty over his case plus putting his client under pressure.

Although his client is very sick and dying, agent did not show the slightest care and concern over his client's health. I wondered where all his faith and spiritual belief has gone. Surprisingly agent also has little experience and knowledge on claim procedures. Would he be able to help client family's claim when he passes away later! Such agent around is really a disgrace for our industry. He should be reported and thrown out from our circle.

Of course not all insurance agents are like him, who is out to make money for himself only. Hopefully with better and more stringent rules enforced, there should be lesser unprofessional agents being recruited into our respectful industry. A friendly advice for our consumers who intend to purchase insurance products; please deal with agents who are serious and professional in their trade.

My strongest belief in life; "If I am honest in all my dealings. I can never experience fear."

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