Is there such a fantastic insurance plan?

The wife of one my client called me today, "Mr Foo what is the different of MAA insurance plans over your Prudential products? They claimed to have some fantastic programs".

This was what i told her. All insurance plans are the same, whether you buy from us or from any other insurance companies out there. All insurance companies in Malaysia are controlled by one Central Government Bank who audits, checks and verifies insurance plans before approving them for us to market the products. Actuary is the one who developed all the insurance programs for the insurance companies. And all actuaries are from the same school of thought, Actuarial Science. I believe no insurance plan is considered as fantastic, it depends on what you want in the first place. For each dollar you paid, if you want a higher protection, then the return has to be reduced. However for the same dollar invested, you prefer a much higher investment gain, then the protection and other benefits have to be reduced instead. For sure there is no free ride as to pay the same dollar, when you can receive high protection and you still gain maximum investment return. This is a simple logical truth. But most people are taken away by the marketing approaches or tempted by incentive promotions.

A friendly advice to this lady. She can buy insurance from any life insurance companies in town, but most important buy it from an agent whom she could feel comfortable with. An agent who is committed, sincere, honest, has integrity, caring, knowledgeable and most important has the deepest passion and desire to serve.

An advice to my fellow colleagues. Never degrade our competitors. The best way to succeed in our business is - "We must help people without people asking".