Buying insurance?
Beware agents' glib sales lines
By Larry Haverkamp (Doc Money)
HOW much is your sum assured? Do you have convertibility? How about renewability? How about total confusion?
Hardly anyone understands insurance lingo. That's why some top agents skip the jargon and go straight for the heart.
They talk about life, death, loving, caring and - most of all - responsibility.
Here are the sales pitches I have run across most often. All are highly effective but they don't give you the full picture. How many can you recognise?
Sales pitch #1: 'Do you know how much it will cost to send your child to university?'
Sales pitch #2: 'My honest advice is: Save your money and buy an ILP.'
Sales pitch #3: 'If you buy term insurance, you won't get anything back at the end.
Sales pitch #4: 'Whole life and endowment returns are guaranteed. There are no losses.'
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http://newpaper.asia1.com.sg/columnists/story/0,4136,131634,00.html?
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