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MISCONCEPTIONS ABOUT INSURANCE AGENTS

There are many misconceptions on insurance agents. Coming from the finance industry, many people have been asking me about my personal experience in the finance industry (more specifically financial advisory). So today I will share some of the biggest misconceptions out there.

Misconception #1

Insurance agents always like to sell the product that they can earn the most from it. The truth is most insurance agent sell the product that is most likely to be accepted by the client and it is the client that give them the product preference.

Misconception #2

Most insurance agents like to sell Investment-related products. The truth is most clients approach the agent looking for short term investment products. By short term, I am referring to 3- 9 months time horizon. Most insurance agent say they have investment products but in the actual fact, most tied financial advisor only have products similar to mutual funds. So if you are one of the people looking for short term investment, you can approach the various Crowdfunding platforms and investment platform.

One of such good short term investment option would be Crowdfunding campaigns. One can achieve his wealth accumulation goal through investing in Crowdfunding Campaigns. Some of the more popular platforms in the Crowdfunding industry would be Fundnel.

Misconception #3

All insurance agents are profit-driven. This is not true. Insurance agents with profit-driven mindset often won’t be able to do well because the majority of the market favors those who genuinely care for their clients. Hence, those successful agents are actually the good people with the right mindset to help people.

Do you have any ideas and strategies in mind to growing your business and want to seek more funds to realize them? Reach out to us and our representatives will be able to assist you further.

BizSquare is a one-stop business consultancy firm providing Loan Consultancy Services, Accounting and Corporate Secretarial Services, Branding and Marketing Consultancy, Strategy Management and Start-up Mentorship.

Reviewed on 19 February 2020

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