Today I Defeated an Insurance Agent. Can You?
"Excuse Sir, can you help me do a survey? Only 3 questions"
Sorry, I'm really urgent, I need to pee.
"Oh okay Sir, nevermind then..." *sad, dejected face*
When I came out of the toilet, he was still lingering around, so I went up and told him I'll do his 3 question survey.
"Ok, thanks! Are you working?"
Yes I am working now. Okay 1 question done. 2 questions left.
"No no Sir, that wasn't the survey question! Give chance can?"
Okay, can can. Faster, what's the first question?
"Which bank do you have an account with?"
*I peep over at his paper. The only choices were DBS, POSB, OCBC, UOB and others*
Erm... DBS, OCBC, SCB, Citibank, Maybank...
"Wa, so many? I just tick DBS and OCBC...."
Sure, whatever you want to do.
"Do you know what is your interest rate from your bank account?"
Yup, 1.85%.
"Oh, the OCBC 360 right? Well did you know if you save $300 every month blah blah blah.... you can get $1000 instead of $60?! Do you want to hear more about it?"
Oh really now. What kind of product is that?
"A savings product!"
You mean an endowment plan?
"Ah yes, an endowment plan"
No thanks. I don't need an endowment plan.
"Oh... Why is that?"
I do my own investments.
"What kind of investments do you do?'
Shares, ETFs, unit trusts, other stuff.
"Actually I also have unit trusts that pays out 7-8% annually, as cold hard cash. COLD HARD CASH! Not re-invested, so you can take that money and spend".
Erm. No thanks, it's okay, I don't need to pay someone to pick a unit trust for me. I buy my unit trust through POEMS with 0% fees.
"Erm okay, what about insurance? Do you have insurance?"
Yes, I have insurance.
"Okay, by who?" *He is wearing a Prudential shirt, by the way*
Aviva, AXA.
"Shall we review your insurance? Maybe we can get you some cheaper insurance."
Erm, I don't think so. I have the MHA group insurance.
"Oh... okay. What about health insurance?"
Yeah, I'm with AXA for my health insurance.
"Is your insurance for B wards? We can upgrade your insurance to a better ward."
It's for private hospitals.
"Oh... Can I ask why AXA and not the others?"
AXA has the Basic rider that covers for any deductibles and co-payments.
"Prudential has the same thing too!"
No, not really. Prudential's one has extra stuff like daily hospital cash and other things that I think are useless. Prudential's health insurance is about 10-20% more expensive than AXA.
*Insurance agent stunned with mouth open*
Anyway, I think that should be about it, right?
"Sorry, what kind of work do you do? Are you in Finance? Do you work in a bank?"
Haha, no I don't work in a bank. Anyway, I'll go now then.
"Okay... bye."
Endowment: FAILED
ILP: FAILED
General Insurance: FAILED
Shield Plan: FAILED
In all honesty, they are asking the right questions. It just so happened that I had all the right answers.
Sorry, I'm really urgent, I need to pee.
"Oh okay Sir, nevermind then..." *sad, dejected face*
When I came out of the toilet, he was still lingering around, so I went up and told him I'll do his 3 question survey.
"Ok, thanks! Are you working?"
Yes I am working now. Okay 1 question done. 2 questions left.
"No no Sir, that wasn't the survey question! Give chance can?"
Okay, can can. Faster, what's the first question?
"Which bank do you have an account with?"
*I peep over at his paper. The only choices were DBS, POSB, OCBC, UOB and others*
Erm... DBS, OCBC, SCB, Citibank, Maybank...
"Wa, so many? I just tick DBS and OCBC...."
Sure, whatever you want to do.
"Do you know what is your interest rate from your bank account?"
Yup, 1.85%.
"Oh, the OCBC 360 right? Well did you know if you save $300 every month blah blah blah.... you can get $1000 instead of $60?! Do you want to hear more about it?"
Oh really now. What kind of product is that?
"A savings product!"
You mean an endowment plan?
"Ah yes, an endowment plan"
No thanks. I don't need an endowment plan.
"Oh... Why is that?"
I do my own investments.
"What kind of investments do you do?'
Shares, ETFs, unit trusts, other stuff.
"Actually I also have unit trusts that pays out 7-8% annually, as cold hard cash. COLD HARD CASH! Not re-invested, so you can take that money and spend".
Erm. No thanks, it's okay, I don't need to pay someone to pick a unit trust for me. I buy my unit trust through POEMS with 0% fees.
"Erm okay, what about insurance? Do you have insurance?"
Yes, I have insurance.
"Okay, by who?" *He is wearing a Prudential shirt, by the way*
Aviva, AXA.
"Shall we review your insurance? Maybe we can get you some cheaper insurance."
Erm, I don't think so. I have the MHA group insurance.
"Oh... okay. What about health insurance?"
Yeah, I'm with AXA for my health insurance.
"Is your insurance for B wards? We can upgrade your insurance to a better ward."
It's for private hospitals.
"Oh... Can I ask why AXA and not the others?"
AXA has the Basic rider that covers for any deductibles and co-payments.
"Prudential has the same thing too!"
No, not really. Prudential's one has extra stuff like daily hospital cash and other things that I think are useless. Prudential's health insurance is about 10-20% more expensive than AXA.
*Insurance agent stunned with mouth open*
Anyway, I think that should be about it, right?
"Sorry, what kind of work do you do? Are you in Finance? Do you work in a bank?"
Haha, no I don't work in a bank. Anyway, I'll go now then.
"Okay... bye."
Endowment: FAILED
ILP: FAILED
General Insurance: FAILED
Shield Plan: FAILED
In all honesty, they are asking the right questions. It just so happened that I had all the right answers.
