Tag Archives: Investment

Selling Life Insurance: An Agent’s Secret Struggles and Quiet Triumphs

Author: Miss Duckie

Two years ago, I was at the supermarket doing my grocery when I bumped into a former acquaintance. We talked for about 5 minutes and he asked where I was working. I said, “I work for PruLife UK”, “ Is this the Insurance company?” He asked. I nodded and said Yes. While talking to him, he slowly walked backwards and cut our conversation with a quick good bye. Poof! He disappeared into the canned goods section. I was left standing with my shopping cart. I smiled, shook my head, chuckled to myself and moved on. Wow! I was only a year in the industry and I already had the ability to repel people.

Some people are scared of the things they do not know and also of the things they already know. I should know, I was a victim of both . As a child, I jumped on a diving board into a 12 feet swimming pool without the thought of drowning. I knew that it was 12 feet deep but the consequences of the depth and the perils of drowning was far from my mind. Eventually, with much struggle, I was able to swim my way up to the surface. Ignorance is very expensive.

I believe in education so I studied the insurance industry. I learned that there are more than 50 products, but I could say there are only 3 main products with a lot of varieties. These 3 products could also be the solution to the 3 unforeseen events that can happen in each person’s lives. How do we prevent a financial problem in the future if (1) we die too soon, (2) live too long or (3) get sick along the way?

Let me summarize the answer into 3 categories:

1st Protection: My mom is a cancer survivor. Although this happened 8 years ago, I remember my dear mom as one of those patients who was unfortunate to be diagnosed with 4th stage cancer. I heard my mom cry several times after her radiation therapy. My mom wanted to die not only because of the excrutiating pain but because of the towering hospital expenses we had, or so I heard. My Dad on the other hand smoked continuously probably thinking where to get the money. I guess we were blessed to have relatives who generously donated some of their resources. Why am I sharing all of sthese? Well, if we had an insurance policy then we would have had a financial solution for medical bills without touching our savings or avoided debt at the mercy of our relatives. We would have a protection from depleted savings.

2nd Savings: I plan to visit the Holy Land in 10 years time. So I should put monthly savings for 7 years in our company while the projected interest rate is at 4-10% . If I get critically ill while saving, this fund won’t be taken away. I will be given money for my hospital bills while my savings remain invested in blue chip companies or government sectors.

The same thing applies to parents who want their children to study in a good school. They will set aside monthly savings so that it will hedge on the inflation rate and they will have the ability to withdraw the funds when the right time comes.

3rd Investments: Do you know that even when you have saved millions of Pesos in the bank and in the unfortunate event that the bank suddently closes, you will only receive 500k regardless of the amount of money you had stored? With the insurance company I represent, we can guarantee a return of 25% of what our clients have invested. They are also given the choice to assign their beneficiaries, not subject to garnishment and no one is allowed to touch their account even if their business has suffered a loss.

I have been in this industry for three years now. I never regretted the day I set foot in our company. I am confident that what I am doing is helping a lot of people save for their future. As a financial consultant, I make sure that my clients understand the product before they commit to it. I haven’t experienced my client getting critically ill. When my client enters retirement age, I will gladly serve them so that they can enjoy their retirement years comfortably.

To define Life Insurance : When a person dies (especially the family breadwinner ), insurance provides the finances to the family who were left behind so that they can continue on living . When a person becomes old, insurance provides them retirement money so that they will continue on living. When a person gets sick, insurance provides financial provisions so that they can get well and continue on living, all without having to touch their savings.

Our company takes the risk out of people’s lives. I am a tenacious insurance agent. My vision is to see people continue on living regardless of life’s ups and downs.

Personal and Professional: The Big Difference

For me, there are fat months and there are lean months.

Obviously, for the fat months I make sure resources are utilized well: saving, investing, and sharing.

What do I do with the lean months? I stay at home and take the role of a hermit.

Paula the Hermit, now that’s a sight.

Kidding aside, I have always been a staunch believer in putting my money where my mouth is.

Truth: Money comes and goes. For me, money has always been a tool, a resource, if you must. There is also truth that money puts food on the table, pays the bills, etc. But as much as possible, I don’t let these things get to my head or it will consume me.

If I can’t afford it, or if there is inner turmoil from my end, I don’t pursue a money-making endeavor anymore.

I believe I am quite generous with my time and resources. I try to share them as much as I can, sometimes even at a loosing end. There also comes a time that my generosity results in a deficit by the end of month. But I don’t regret my actions as long as they foster positive relationships as a whole.

I invest not only in monetary vehicles but in people as well. My biggest asset? My relationships. I make sure that my relationships (professional or otherwise) are all well taken care of, after all, they are the very people who bring me opportunities.

So sometimes, it just burns me when a good client or potential prospect deems me unreliable or unprofessional. I really take it to heart. If I can’t deliver, I might as well end the professional relationship there.

I can be very hard on myself sometimes, especially if I get a disappointing email from a valued client/colleague.

I make it a point to walk my talk. However, especially for the recent weeks, there were circumstances that were beyond my control. Currently, I am working on four separate accounts, all in four different industries!  One of them holds the biggest part of my income. But nonetheless, I try to be fair to everybody, giving them my time, resources and talents. But sometimes things don’t work out, even if I work till the wee hours of the morning, things will not always go according to plan.

More than the fear of loosing potential income, I am also scared of loosing the confidence and trust people have in me. My name is one of the things I highly value in this business. Aside from my relationships, my professional reputation is one of my biggest assets.

So what’s the difference between professional and personal affairs? For me, there is none.

Investing in the Philippines

The Ultimate 'Market Place': The Philippine Stock Exchange
The Ultimate ‘Market Place’: The Philippine Stock Exchange

Since I’ve gone professionally full-time with my writing, I was wondering how to best maximize the time given to me.

Aside from ministry, fitness, reading, cooking, creating media plans, and maintaining an awesome website, I figured why not try investing in the stock market.

I recently invested in the Philippine Stock Exchange (PSE) and I am still figuring out what other companies to invest in. I am really digging companies related to what affects me directly such as power, communications and utilities. There is a lot of potential for them and the Philippine economy as a whole.

In a recent conference I attended, my financial consultant (who is also a good friend) introduced me to a guy who had gained a lot of money from the stock market. He was pretty much pleased with himself, too!

The thing is, when I asked him about tips and such since I was a beginner myself, he became all tight lip. He minced his words.

Well, I don’t blame him. Why would he share the wealth, right?  😉

In the meantime, I’ll do what I do best: learning everything by myself.

How about you? Have you tried your hand in stock investing? What kind of companies are you looking at?