It's hard when trust is not around.
Recently a gd client that has been with me for many yrs, turned sour. He started to qn why the savings policies that I've recommended him has -ve returns. Certainly savings should appreciate over time right? Yes, I agree too. Otherwise it's not called savings. The policies doesn't have negative returns, but they are meant to be held til maturity. Early surrender will only mean huge penalties, thus u will see -ve returns. And this insurer has been delivering it's returns all these yrs, and is the only insurer that has never cut its bonuses before. (从来有cut过)
"Then why my other policy (from outside) even if I surrender now will be at least higher than capital?"
"Yr other policies have been with you since >20 yrs ago. So it would have breakeven. The fact that even after >20yrs, it is marginally higher than yr capital means that savings plans are engineered to be held for the long term." I patiently replied
"Then why is this xxx policy (from outside) that's only gotten recently having positive returns ?"
"That, my client, is an ILP. It is purely an investment plan with no guarantees. In gd times, yr returns might be higher than the savings plans, in bad times it might eat into yr capital." I explained. "It's hard to compare between the 2 plans coz they are in 2 different asset classes, with different risk and thus diff returns." I continued.
A few days later, while I was on the cruise with thr kids, he texted me again.
"Why is my #2 insured for only $70k!? My #1 the policy is covered for $100k! (from outside) "
"Yr #2 life insurance policy covers for a minimum $175k if claim is before age 65, where it would be $70k + bonuses thereafter. "
"But my #1 covers for $125k before age 70 and covers for 40 dread diseases."
At this point, I was really tired of arguing. I prayed for peace and wisdom and told them that I'm overseas. I would revert when I come back.
When I came back today, God pointed me to search a particular client's folder. So happened that this client has the same policy as the above #1.
I printscreen the product features. The plan covers for $125k for the first 15 yrs. It covers for 30 dread diseases (Full stop)
Sometimes when the trust fades, even the smallest wildest accusation also need to be clarified. I could go via the angry tone like what the client did, and told him to read his own policy documents. But would I gain? Angry + angry = super angry
I'm no saint either. But I choose to take a step back and let the facts speak for itself. My conscience is clear. I have never sold anyone based on MY needs. It was always their needs and what's most beneficial to them. If I had done any mis-selling back then, then the facts would not be on my side. It wont be easy to explain, especially when the trust fades.
There are battles where I fight; and there's battles where I point and direct. If the trust is not here, then even if I had the most ideal plan, he would have doubts. Bcoz at the end of the day, client buy US, not the product. And when trust is not here, it's time to let go.
Anyway I've done what's required and will let God take care of the rest.
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