The reason why I left the Insurance Industry
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- Опубликовано: 30 мар 2021
- Chris was doing well in the insurance industry, getting awards and a good commission, so why did he decide to leave it all behind?
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Produced by:
DOP & Editing - Samuel Roy - / samuroy
Videographer - Keith Tan - / healthpotions
Business Enquiries:
nicole@takagiagency.com
It takes an extremely upright person to be honest enough to stick out his neck and say and do what is right without fearing the consequences. Salute to you. I am currently reading your book Money Wisdom - Simple Truths for Financial Wellness. Glad that you spoke up for clients' interest. I am a small time investor, otherwise I would have seek your advice on investment.
the 6 dislikes are from angry insurance agents...
LOL!!! I LIKE THIS COS I WANNA COMMENT WHAT U COMMENTED XD
The problem with 99% of the insurance industry is the conflict of interest in recommending/selling policies.
I once had an insurance agent who declared "we are one family" comes Chinese New Year as I bought several plans from him in my good days. But once I was jobless & had to cancel all my insurances, he could just ask like a stupid stranger "how are you doing" without any offer of tangible help.
This has led me to not believe any sweet word from any insurance agent (of self-profiteering).
Thats true for most of your "friends" !!!! Watch out.
Yes I know of one who has gone MIA...
did you ask for help?
@@YokNg The common sense of friendship in business relationship (such as insurance) is reciprocal: "I help you then, now you help me". A name card given to this insurance friend tells a lot of what he should do (to help me in my dire situation).
Unless he's playing dumb just to wait for my cry for his help!
I don't think you understand social interaction by asking this question: did I ask for help (from a 'we are one family' friend)?
Nice... happy I came across this man's sharing. I'm not even in the finance industry
As an agent serving in the corporate insurance sector, I agree, we need to think for the customers in this industry, not purely for ourselves. While I may still be inside the insurance industry, my hats off to you for starting something different and ultimately beneficial for the end-user in mind.
Perhaps you after you know how exploitative the industry is you should search for other methods to sustain life.
In any agency firm, be it insurance or property agencies, there'll always be conflict of interest when commissions are involved. It's a culture of upselling and persuading clients to buy something that they don't need, that's how agents survive. But fixed rate agencies are starting to gain market share, people can now engage non-commissioned property agents and simply pay a fixed fee depending on the type of property when it's sold.
I respect you for your honesty, integrity, ethics. it is rare to find a person like you nowadays. wish you and your family all the best!!
If I have to work, I would love to work for this guy.
Always like his sincerity
You did the right thing, they just can't leave behind the exploitative yet comfortable life for them.
This is called fiduciary in the USA. Means put the clients' interest first. Can't believe sg govt didn't kpo this, and this upstanding man must do it on his own.
Whoa check it up goggle is there a enforceable positive fiduciary duty to their client in the USA. Rethink and if your wrong redact your narrative.
Singapore has never stood by humanity they only will stick by you if you bring money or fame
Hi ,we want to share our bad experience from the ocbc + life insurance from great eastern to any singapore influencer who interest. It's our fault to trust on the ocbc staff and at the end it's like a slave contract. Now we learned a lot more and would like to share our lesson to all beginner.
Fee based or brokerage based, it still amounts to a % of the premium. Semantics
The difference is, the fee is outside the premium. The premium will be deducted distribution fee (which is for comission) before even being reinvested elsewhere. Also, fee is fixed, distribution fee is front load, meaning very expensive in the first 6 years. Out of you $100 premium, only half of them reinvested in the first year.
Insurance agent are all scammers
@Asyran Aqid He's young at heart.
If he was trained as a professional agent and financial planner, he would know how to calculate how much income protection a person needs objectively. BNM guideline: Annual Income × Number of work years until retirement (- existing coverage) = precise protection gap.
I think he knows but to earn more, i know some wealth planners will not care about this.
except none of the agents sell u this way, they always try to ask for whatever surplus you have after every month and try to convince you to use every single cent of it
Actually, Singaporeans love to use the word "actually" very much actually.
buy tesla now actually
This is indeed very true. Many times, till today, bankers or Insurance Agent are mostly keen on just the KPI where remuneration are tied to numbers. Nothing wrong to be honest, as it’s the only way to survive. However, shift is already happening as we speak, notably general insurance like car, home, term and accident plan that could be bought with just a click away. With education and technology, and the rise of Fintech, this may change the entire landscape for more complex product that could probably be advice by AI. Same goes for stocks market, once could easily DCA these days without the hefty fee/service cost. I am already starting my own endowment plan for my child by DCA monthly with a specified budget on certain stocks. Exciting times ahead!
DCA is the best way to go broke.
Thank you for this video
Back then there wasn't internet... Information about insurance industry was a hush hush. The amount of commission that you'll get was extremely decent then
Axa insurance Singapore lakukan seperti dalam alkitab cerita tentang kapak susah siap menebang yang tidak berbuah ya!
Hay quá
Not only in Insurance, now even in property development, it is no denial the profit margin is getting lesser and lesser and local developer if do not find it attractive to develop, in no time, a lot of foreign developer especially China are eyeing into our market.. They have strong backend cash rich company or individual. A lot of local business or services is finding the environment more tougher and tougher when fight against foreign company especially China businesses gain entry into Singapore. There will be great landscape change in Singapore businesses like retailing, insurance, property development. It is threatening to Singapore locally owned business. It is depend on how they are being protected.
Respect 💯✅ At least some Chinese are still around with heart bigger than gold or value which shows humanity
I left so i can create another one
THOSE DISLIKES ARE FROM INSURANCE AGENT
Performance based
Thankfully, none of the insurance agents I've dealt with have been out to 'cheat' me of my $. But after a while it's always the same problem: they can't help themselves, and keep pushing more and more products that I don't really need. Therefore to call themselves "Financial Advisors" is inaccurate, imo.
Indeeeeeed!
good interview and great sharing
They are financial salesmen aka planner/adviser, been looking 25 yrs for one that I can trust my lunch money with, haven't met one yet ???!!!!
Are you in Florida I can be your insurance broker you can trust me
@@kevinblanc1741 Whoa do you actually have a positive fiduciary duty to your client? Are you a tied agent, or a commission based and or tied comission based agent? Do you check out the list that should establish that your professional advice serves the best interest of your client? If you fail to serve the best interest do establish extant Federal and or State statutory law and or common law provide a actionable recourse to the civil courts without impairment because you do not serve your client Fidicuary interest.
He don’t even look like 50!
He's young at heart.
his heart is in harmony because he chose to do what is right, thus he looks younger than he is supposed to be.
He more handsome than me, I'm still in my 20s 😂
PAP to Chris, "Don't you ever step into Singapore politics or we will curse you 18 generations." LOL
Kudos!
He’s not good at lying
When you can’t beat them , charge lesser and get a smaller piece of the pie.
Have money can alr. No need feel bad. 不要跟钱过意不去!
How can you be a top 2 rookie in the company and left with $21.59 in your bank account? Something is not right somewhere. Either the company you joined was so small that you are top as long as you managed to help a client with an application, or you are bad with finance management (which you shouldn't be) or you're trying hard to sell a non-existent story.
@@rayh.9130 Have to know he also need to support his family first over his own.
He probably help his family, thus only has $21.59 left
@@amandalee1268 top 2 rookie easily earn few 100k. what kind of family help costs that much?
Insurance agents are not human beings.
Insurance agents are scumbags. Look at how one curse his son.
Can't believe that there are people that buy into his sob story. I was in the industry and left because I found my calling in other sector so I know what he said is half truth. Firstly, sure it's fee-based advice. Did you stop and think where the fees come from? Do you know that they earn advice fee, management fee, trailer fee, which is the biggest chunk of their income. So the more customers they get on board, the more they earn as well. As long as there are KPIs to hit, the conflict of interests is still there. Secondly, the reason why the whole industry hates him it's because he talked shit about them first. Imagine you are running a noodles store and your competitor spread rumours about your noodles being unhygienic and shit. Would you be happy? This guy is literally the boy who cry wolf and then become wolf in sheep skin.
I'm not defending bad advisors out there because I have seen my fair share so this is just a cautionary reminder of who this guy really is and how he created a sob story to project an image for his potential clients.
Insurance is like a scam thing ... to me ... death insurance esp. since every one will dead off .
Your money wisdom is hard to read. Alot is coming from your own perspective which is not true. I read half way of your book i decided to throw it away.
Especially you said buy term invest the rest. Its like having one and only formula to fit for everybody. And you mentioned investments can only be sold by people who have done it, certainly untrue.
Trs is gone for good . So is their content. 😂
Hay quá