Thinking of going into the insurance business
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Hi i'm a 22 year old who has 'ord'ed recently and has only O levels. I'm taking my diploma next year and is very interested in learning the trade of insurance. Are there any financial advisors out there who can give me advice as to whether i should start now or after i graduate with a diploma and possibly a degree? Are there any companies that accept new guys to do part time while studying for the licensing exams?
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You may call them up and give it a try.
But not an easy job as it require you to travel alot. Meet all sort of customers and must keep your cool at all times. Commission earn, no fixed salary.
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After you graduate, then talk about it.
Today insurance are mostly peg with unit trust package, unless you are talking about consumer insurances like car and homes etc, those do not need an insurance agents, they need a company. If you look at the current economy situation, you better stick with your education.
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Most likely is insurance agent selling health policy, death policy and so on.
Tell you frankly, when I meet them, I usually siam them and never give my mobile to them.
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There you go, people today are more educated and enlighted, they can buy any insurance product thru the net, i just brought my travel insurance on net within 3 minutes to HK, Guandong and Bangkok. Most do not need an agent anymore. And with knowledge, most are more careful, on top of that, life and death insurance are saturated with so many insurance companies, medical insurance are already in place thru CPF and companies they work in. I do not forseen insurance as a prospect for the future.
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dream big big lah
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Hi... I'm in the same boat here... I am a 23 y/o, have a Diplona in Business admin and was invited by a friend into the business...
But CMFAS exam so hard TT_TT got 61 to 74 on my module 5 exam.... turns out got 4th edition question as of 1st october...
Got any study advice from the season FA reps? I read the text book only plus some hand out very blur leh.... TT_TT
Also I came across this website... http://www.cmfas.com.sg/index.php
Is it any useful??? -
if you dun mind reducing the amount of friends you have now.. den go ahead.. but you'll get more friends in the job too. depending on how you operate.
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Originally posted by razorlemon:
if you dun mind reducing the amount of friends you have now.. den go ahead.. but you’ll get more friends in the job too. depending on how you operate.
But in today's day and age, shouldn't most people be aware that insurance is very important.... Even Obama is pushing americans to buy their own health insurance...
Investing also same thing... you are actually losing money if you keep too much inside the bank....
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thick skin jiu can liao
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I don't really think it's a good choice, no doubt it maybe able to earn you a good income. however it takes a lot of hard work and luck. in short i personally won't wanna be one, as there is too many insurance agents among my friends. probably they have already approached my common friends and i'll be left with a minority.
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I ever took M5, M9 & Health Insurance Cert
join a insurance company part-time with agent code given
but after a mth I give up, very hard to sell
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Aunty, you yourself also very hard to sell, somemore want to sell insurance to pple. Haiz,
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if u r interested in insurances....qualify to be an actuary ... not easy but a very high paying job if u r good...not necessary must u go into selling them..
actuaries are masters of risks
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NA
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What's your motive for wanting to become an FA? If it is purely because you want to earn damn a lot of money, please stay away. The industry has enough errant FAs already. If you want to become a competent FA, and use your knowledge to the benefit of others while earning a decent income, then you may consider becoming one.
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Originally posted by JerryJan:
I ever took M5, M9 & Health Insurance Cert
join a insurance company part-time with agent code given
but after a mth I give up, very hard to sell
then do recruitment agent part time...client and jobseekers look fo u instead. -
Now full employment, you want her to go unemploy again as recruitment agent ar?? you know what is beat mosquito business or not??
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In SG it makes sense to have something more than O levels. Anyways try to see if you can start something part-time before making it your full time job.
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but if TS is O level, for some reason cannot go upgrade himself, commission based earning might be the best thing for him. Those who study more and get higher qualifications can remains as higher salarised people, while others who are not highly educated doomed to earn much lesser. going for commission based salary seems to be the only way out.
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Do you believe in the product in the first place ? There are 2 groups of sales people out there. One who believes in the product and the other whose driven by targets, commission, etc. Some people do have a flair for sales. They're extroverted, out-going, tenacious, etc. If you fall into this category, by all means, go ahead - insurance, property, medical sales - sky's your limit. If you don't, then ask yourself if you believe in insurance in the first place. If you believe in the product and think its necessary, then that will be your drive - helping people.
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hi dream big,
are you very sure this is what you want? when i said 'are u sure' i meant are you 100% chop chop kalipok sure. If yes then forget about studying and go right into the line.
why i say that, because 3 years in a poly is a super long time and the amount of field experience you will lose is just too much. getting into poly won't help you in this line at all (sales) unless youre taking finance diplomas and maybe for the cause of networking. so if youre 100% sure this is what you want go for it. google some career seminars with some of the big boys out there (AIA, Great Eastern, Prudential) then see if you like it.
I m in this line as well so if you want i can lend you my notes, they are pretty updated.
and no, MAS is very strict when it comes to agent's compliance. no license no selling. but you can do some active prospecting while you studying for the exams. what i suggest is get signed up with one of the big boys, get your license, do part time insurance n see if u like it.
this is a reply to angel7073, you re quite wrong. insurance companies have seen one of the highest increase in new premiums acquired in the 1st quarter of 2011 so no prospect is pretty wrong. and cpf only insured you with medishield which only covers so damn little(check up their site). i heard cases whereby your bill can 4 to 5k and you can't claim any amount. so health insurance is definitely the first thing.
just my 2 cents
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Unless you are confident of converting your circle of friends and family and acquaintances into your insurance clients........and that you can make a living out of it.....otherwise dont.
Also it is not so easy because if you work in sales in long term, to be successful you need sales skills, such as approaching, closing, etc.....and these are not easily picked up skills but need time........so you will be struggling at first.
You just have to ask yourself, are you good in communicating and persuading people, or are you the shy type.........if you dont have the skill-set, it is better to find another line of work......
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if you decide to try insurance, go for it. its not easy. if you can survive for a few years, the next dozen years will be a breeze for you.
