A fair deal

I met a successful life insurance agent in Indonesia. He is experienced in selling health insurance and single premium products. He explained to me about how he is able to convince his clients about the value of his product.

I asked him if he would sell a whole life or investment linked product where 50% of the accumulated premium is taken away from the consumer. The policy pays a high commission to the agent. He considered this matter and replied "no". He felt that it would not be fair to give a poor deal to the consumer. He was quite surprised that this type of product is being sold in Singapore.