Wednesday, September 14, 2011

A penny saved is a penny earned......

Selling tips...

In the course of selling life insurance, often enough we encourage our prospects to save for future needs. We project our investment return of RM50,000 or even the RM500,000 or more, depending on how much they could afford to save. Whatever the return, some so called intelligent prospects might say..."By the time we reach to receive this amount, that amount is too little for any use!!!" or "The money has devalued and depreciated!!!"

Sound logical! However the fact of life is, when you are rich and successful, 50k or 500k is really nothing. 50k can't buy a comfortable vehicle, and 500k can't purchase a nice lovely house in our city. But when you are poor and sickly, even the fifty dollars are big money.

To prove my point, let me share my true experiences. During our last Asian Crisis in 1997 when our region was badly attacked by the currencies depreciation, every country was suffering when loans were recalled, properties and share market fell very badly until all faces turned pale. Unemployment went up and banks were forced to auction unsettled debts. The entire economy went upside down with loan interest rate kept increasing beyond expectation. Some who could not bear to face the reality of life committed suicide.

During that period of time, many of my clients came to approach me to cash out the balance of their fund. Those who received 10k and below were overjoyed. A few who were millionaires before The Asian Crisis had 50k with us, could not believe to see the 50k which they claimed was small money at one time. All my clients were too happy to have these cash at a time of desperation. Their only regret was... They should have taken more insurance saving much earlier.

My belief is... no matter how big or small the money you save, money is still money when you need it most at a time of emergency. It goes with the saying "A penny saved is a penny earned"

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