About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Tuesday, September 17th, 1:27PM
rss
Latest Headlines

Opinion: Fear and loathing of life insurance

While most of us need to be optimistic just to get out of bed in the morning, the skilled insurance salesman is working out how to 'back the hearse up to the sitting-room window' – metaphorically speaking. It's an important component of success – nice eh?

Wednesday, May 21st 2008, 6:05AM

by Russell Hutchinson

Generating fear, and the oft-associated loathing, seemed to be the exclusive preserve of insurance people. But no more. Checking out The NZ Mortgage Mag I found an insurance brokerage trying to scare mortgage brokers. Surely not fair! Poor mortgage brokers are being scared enough by double digit interest rates, collapsing house sales, and thousands of unhappy property investors. Hard, really, to top that.

But these folk were trying to scare mortgage brokers out of selling insurance. "Mid Stream Urine Tests" the headline blared. Imagine a mortgage broker's trembling hand clutching a paper cup while some poor bugger is trying to pee. Now that's scary. It's also completely and utterly ridiculous. The closest insurance brokers get to the whole test equation is passing on a form from the insurer which lists the tests an underwriter wants. They don't even have to know what they are.

If you aren't selling life insurance there is plenty to fear, compliance, perhaps. Client underinsurance, certainly. But not mid-stream urine tests. If you are selling it, you shouldn't even worry that you lack significant medical knowledge. To sell, it is frankly irrelevant.

The truth is this – and it's the truth that is exposed by tough times – there are two kinds of adviser (whatever the product - mortgage, insurance, investment): people who can tell their clients uncomfortable truths; and people who can't. The former group will be trusted advisers. The latter will be just plain order takers at best – and apologists for persistently rosy forecasts that accompanied their sales at worst.

« Opinion: Business insurance target – is it the right one?Opinion: Insurance brokers can hold their heads up high »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Insurance Briefs

Asteron and Fidelity go head to head for award

nib enters ASX 100
nib health funds has been added to the ASX 100 index as part of the September 2019 quarterly rebalance of the S&P/ASX Indices.

AIA's shot at a TV ad
AIA New Zealand joins forces with Dame Valerie Adams to help Kiwis live healthier, longer, better lives.

Southern Cross recognised
Southern Cross Health Society has been recognised as one of Australasia’s top 10 ‘Most Innovative Companies’ for BeingWell, its corporate health and wellness programme.

News Bites
Latest Comments
  • Insurer response 'not good enough'
    “Last year didn't Adrian Orr supervise the purchase a controlling interest in Fidelity Life. And before he went off to the...”
    1 hour ago by Elephant1
  • Insurer response 'not good enough'
    “Full disclosure – I’m not an adviser and know nothing about the insurance industry. However, I am intrigued at @Ron Floods...”
    2 hours ago by Pragmatic
  • Anti-commission advocate appointed to FMA board
    “Seandnz, right on the money. Im gobsmacked that she should be recruited to the FMAS with her clearly biased views. Will there...”
    3 hours ago by Bikedude
  • Insurer response 'not good enough'
    “As expected, commission is the root of all evil, someone working on commission is conflicted, while someone on a salary with...”
    4 hours ago by lewiboy
  • Anti-commission advocate appointed to FMA board
    “So does that mean ALL commission based businesses should move to fee based ie real estate, car sales, if not then it is purely...”
    4 hours ago by perryb
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News
Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com