16/12/2020
✅ Buying the Wrong Insurance
Most people tend to buy wrong insurance policy because they were not advised to get the one that truly fits their current needs. 😯
In other words, buying the wrong insurance means that you buy a policy that has many eye-catching benefits but in reality it may not be what you need at the moment resulting in unnecessary expenses! 😅
✅ Overbuying Insurance
Another top concern our clients had was overbuying insurance. Similar to the earlier concern, people tend to buy many policies because their benefits sounds enticing but in reality, it may not be what they need.
✅ Overpaying Premium
Now, this concern is different from overbuying insurance. Overpaying for premium simply means that you pay more than you need to for a particular policy.
For example, the premium cost for policy A is RM2,500 for a coverage of RM150,000 whereas policy B cost RM1,750 for the same amount of coverage.
The cause of the problem is the lack of comparison between policies. Also, having the wrong advisor will lead you to paying more than you need to. ⚠️
✅ Cheated by Agents
Another main cause of overbuying insurance and overpaying premium is commission-driven agents.
Rather than being customer-centric advisors, who properly diagnose the needs of their clients, they are too focused on commission to the point they sell what the clients don’t need. 😑
✅ Bad Service from Agents
Many people faced problems with contacting their agents when it comes to claiming insurance or some agents may be too slow in replying or even ignore their clients inquiry regarding the policies. 🐢
✅ Unable to commit due to financial uncertainties
Finally, economic uncertainty due to the pandemic, people are afraid of buying insurance because they don’t know if they can continue paying for it since it’s a long-term commitment. 🤔
However, with the right advisor, you will be able to find the right policies that won’t be a financial burden to you. 😲
In a nutshell, the key to overcoming these concerns is an advisor you can trust. 🤗
Do you have any of the concerns mentioned? Feel free DM us to arrange a chat with one of our professionals regarding this matter. 📩
