Here we go. As you lots know by now, there’s an ongoing insurance “dispute” exists between me and my friend, Mr V for quite some time now. As per few of my previous posts listed below, in case you lots wanna know the full story.
How It All Started
Part 1
Part 2
He’s suppose to meet me up on Tuesday (30June2009) to settle off the “dispute”. But as of the moment of this post, 08th July 2009, there’s not even a single call, nor sms from him to solve the ongoing issue of mine. It’s just a very simple task for him to do: Pass me the credit card auto-deduction form, me filling it up, sign on the dotted line, and him submitting it to his insurance agency for them to update the changes into their pathetic system, and that’s just about it.
But NO! He didn’t show up, nor did he send a simple sms to me on last Tuesday. Oh yeah. I forgot. He’s a “part-time” insurance agent. He has a day job to take care of. He must be busy then. Fair enough. I gave him a certain “grace period” for him to reach me to settle off the issue. It’s more than a week already. Shouldn’t be an insurance agent be aggressive/proactive in reaching out to his/her existing customers in case of anything, and I mean just about ANYTHING that his/her client requests?? In one way, it’s the time to perhaps offer more new products information to their clients, and also further build up the rapport between the agent and the client. But his actions clearly says otherwise: he has no action towards those small-time customers like me, who owned a policy that only requires me to pay him 150 bucks per month. Clearly I’m just a small fish in that big ocean of his clients then.
As a result, I’ve decided to talk to my other insurance agent, which has served me soooooo well since the day I purchased the insurance policy with him. I told him that fuck the MRTA thing. I just wanna cut-off my business relationship with Mr V and take back whatever that I’m entitled to.
Had a conversation with my existing agent couple of days back about this matter. He said he can help me to surrender this policy with Mr V without notifying Mr V. The cheque refund will be mailed directly to my house address. The policy will be cancelled couple of days later. Fine. Do it then. At the same time, since I’ma surrender my policy, I intend to purchase a totally different policy from my friend, be it saving or investment or whatever they wanna call it. Better do it like this rather than spend those extra funds unnecessary.
My agent said there is indeed one type of insurance policy which acts like a savings account similar to local financial institutions, but the returns are higher. If I choose to take up this policy, I will be getting the returns on the 2nd year, which is 50% of my total investment in a year. In lay-man terms, I’ll get the 50% return once every 2 years. How about that? Sounds great eh? Better than those offered by local financial institutions eh?? You might be asking this: What about the protection then? Since it’s a insurance policy as well? My agent told me this: If it’s a protection/life insurance plan, the protection/coverage will be higher than the returns. If it’s savings/investment type of insurance plan, then it would be the other way around, which means the returns will be higher, but the protection coverage will be a tad-bit lower. Then my agent further informed me that if I were to purchase 2 of these savings/ investments policies, then basically I will be getting the returns every single year, starting from the 2nd year of the first savings/investment policy. And all these will be calculated based on the date of purchase of the policies instead of the calendar years. Sounds interesting eh? Yeah. I’m still contemplating on this “offer” as of now.
Ok. Enough on this insurance stuff. For more information, please contact your respective insurance agents or agencies. I ain’t insurance agent. So post all your questions to the experts, and by ‘experts’ I mean full-time insurance agents, not those “pariah” part-time agents. They’re useless and a waste of your time and money.
Just like what I've told to one of my close mates, Mr V is good to be a friend, but when it comes to business wise, it’s best to stay away from him in any circumstances, based on what I’ve “encountered” so far.
Owh well, since the decision has been made. There’s no regret over it anymore. On a side note, my mate got a call from Mr V on the very same day that Mr V was suppose to meet me up, which was last Tuesday. I’ll tell you guys and girls more about it in my very next post.
That’s all for now. Stay tuned!
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