What is first thought that comes to mind when someone tells you he is an insurance agent?
To quickly cut short the conversation because likely he will go on a sales mode and try to sell you products?
Or will you ask more about what specialization he does?
More often than not, the reactions I encountered are the former.
In fact, when I first started this career, I remembered my mom almost went berserk.
She could not wrap her head around why her son, a university graduate, would ditch his engineering degree in pursuit of a sales role.
And among all sales job, to become an insurance agent.
When a neighbour asked me what job I'm in and I told him I'm a financial planner, his first question to me was "Insurance? What happened Vincent?".
I couldn't quite catch what he was inferring at that juncture.
Looking back, I realised he was speaking to me in a condescending manner.
I don't blame them.
Insurance, after all, is a counter intuitive product.
Most people buy things because they see the value in them.
For example, some people are willing to spend 5 or 6 figures on luxury watches because they reflect the owners' status.
It could also serve as an alternative investment.
(Whether luxury watches are good investment is a topic for another time.)
On the other hand, insurance is a product where you spend money and you pray you never have to use it.
It defies our conventional wisdom.
Yet, in this era where medical costs are skyrocketing, we can't deny the importance of having insurance.
This constant tug of war makes it difficult for people to accept that insurance is a good investment.
Another aspect is there are numerous cases appearing in the papers where some agents had misrepresented the financial products or runaway with their clients money.
As a result, the stigma of agents "cheating" money gets constant reinforcement.
Especially when it happens to friends or colleagues that we know.
In my opinion, there will always be black sheep in any industry.
It just so happen that the media likes to sensationalize the insurance industry and those black sheep.
This helps to reinforce the mindset that most agents are self-centred and will likely put their needs in front of the clients'.
The fact that insurance is a hard to understand product due to the many terms and conditions doesn't help.
After all, the devil lies in the details.
There will also be times where the agents themselves may not be aware of until claims occur.
Given all the above, the overall impression of being in this line is often a misunderstood career.
As such, this career is not an easy one.
This is one of the biggest reasons why I'm writing this blog.
To help readers equip themselves with the necessary financial and product knowledge.
It sounds cliche, but the goal is simple.
No strings attached.
Just paying it forward and value adding the community.
Watch out this space to see for yourself if it's worth your time.
And if you like what you are reading, be sure to hit me up at the bottom of the blog or arrange a quick chat to understand how I can help you further.
Looking forward to value adding my readers! :)
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