Lowyat.NET: Latest topics by Justinng343

Working as both insurance & real estate agent?

Justinng343 — Mon, 19 Oct 2020 02:46:18 +0800

Need advice from Si Fu who work as both insurance and real estate agent.

I know some questions must be stupid 🥴 but it been on my mind for awhile.

Questions:

1) Insurance or real estate which is easier to approach client? As I know insurance is less favorite when pitching to friends & family or stranger. And people always give insurance a bad impression.

2) Can I use real estate as a way for me to get client for insurance as well? It is wise? Because from what I know they might need a home insurance. But then will people feel like I'm too greedy?

3) Which career is more long term?

4) is it a good idea to work in both industry? Or I'm just gonna burn out quicker?

All in all, I'm just trying to finding a better way to approach client or even get lead.
Thank you in advance! 🙏

What if I can't pay my ILP premium?

Justinng343 — Mon, 21 Sep 2020 02:21:01 +0800

Hi,

Need some advice from any insurance agent or anyone who know here, just to double confirm.

From what I understand about ILP is a lifetime policy as long you pay the premium right?

So for example let's say:

I, at the age of 50 start having ILP and pay Rm 750 monthly premium = Rm 9000 yearly premium, until the age of 100. And suddenly at the age of 65 I tired of working and decided to retire. However, I don't have the money to pay for the premium but at the same time I still wanted to keep my policy in force without lowering the coverage and etc.

So my question is, how can I maintain my policy? Can I use my cash value I have in my ILP? I know if I use my cash value to pay, it will cost me more as I get older.

Another question is, if through out the year, I didn't make any claim and by age 70 I decided I don't want any insurance anymore and decided to terminate my policy. Correct me if I am wrong, I know I will only get back my cash value which only couple thousand. But then I pay Rm180,000 in these 20 years. Wouldn't that be a lost for me? I know I get coverage and all in case anything happens, but if I healthy af till 70 wouldn't I be wasting my money on insurance?

Please enlighten me Thank you in advance.

By the way, those example is just a suddenly thought I have about insurance, like it is worth it in the end, do I waste my money all those year if nothing happens to me, when I can use those money to enjoy extra things.

Insurance Agent or Corporate Job as a fresh grad

Thu, 01 Jan 1970 07:30:00 +0800

Insurance Agent or Corporate Job as a fresh grad

Justinng343 — Tue, 14 Jul 2020 13:35:21 +0800

So I am a Fresh Graduate, 23 years old with a Bachelor's degree in finance with no job experience in my field other than some part-time job.

I have a friend who is very successful in his career as an AIA Insurance agent. After explaining to me how the commission scheme work, I was convinced that being an Insurance agent really have a lot of potential.

The reason I considering being an Insurance agent are because of the flexibility of hours, be my own boss, potential high income, and passive income. And I also working on my online business , so having flexible hours really helps. The only thing I hate about it, is the stereotype surrounding it and I don't really like sales that much however I am willing to step out of my comfort zone, if it can offer me the freedom and success (wealth).

However, there are family and friends advice me to work in a 9-5 job such as bank or other related field for few years to gain some experience first before being an Insurance agent. So if Insurance agent doesn't work out, at least I have the experience to get hire for other job.

So my questions is:

1) Is it best for fresh graduate to start working in a 9-5 corporate job first that offer stable income, or should I start with being an Insurance agent? Which is better?

2) If I work in a corporate job for a few years, will it be too late for me to start being insurance agent when I could already build a client base long ago?

3) If I work as an Insurance agent and it doesn't work out, will it be too late for me to find a stable job since I don't really have any experience in banking or finance other than insurance sales. And I would have wasted all my time as an Insurance agent and go back to square one with basis salary.

4) What is the success rate of being an Insurance agent?

I wanted the freedom and make a lot of money but afraid it would fail on me even with all the hard work and I would end up with no job

Any help from profession or anyone would be much appreciate
Thank you in advance for your kind assistance!