Underinsurance
This is a simple but good commentary on why people in Singapore are underinsured, which is highly likely the case in Malaysia too since the insurance industry is also dominated by insurance agents and the structure of agents' compensation is similar.
Coincidentally, one of the questions I recently asked an insurance agent was whether she herself was buying the insurance product she was trying to sell to my sister, of which the answer was affirmative. You can try asking that too but please don't make it obvious to the agent that you will not buy the product if he/she doesn't buy it. If the agent doesn't plan to buy it, ask why and judge whether the reasons are sound or not.
On a side note, I find it a little disconcerting that the agents I've spoken with recently either provided misleading information (whether the agent was misinformed or not, I don't know) or didn't provide important information until I asked for them. All these would have gone unnoticed by my family because either they do not know what information to ask for or are inexperience to notice something is amiss. It's scary.
Coincidentally, one of the questions I recently asked an insurance agent was whether she herself was buying the insurance product she was trying to sell to my sister, of which the answer was affirmative. You can try asking that too but please don't make it obvious to the agent that you will not buy the product if he/she doesn't buy it. If the agent doesn't plan to buy it, ask why and judge whether the reasons are sound or not.
On a side note, I find it a little disconcerting that the agents I've spoken with recently either provided misleading information (whether the agent was misinformed or not, I don't know) or didn't provide important information until I asked for them. All these would have gone unnoticed by my family because either they do not know what information to ask for or are inexperience to notice something is amiss. It's scary.
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