Insurance is also a subject people used to broach reluctantly, equating it with incidents, illness and death. But things have changed a lot on the market even though agents today continue steadily to sell policies related to the above, they provide advice on wealth planning also, and recommend financial products that best meet a customer’s needs.
Which means that not everyone is experienced to just approach a potential client and start discussing insurance. An agent must possess at least SPM/MCE qualifications or its equivalent, not be an un-discharged bankrupt, and register with the life span Insurance Association of Malaysia (LIAM). He is required to move the pre-contract examination for insurance agencies (PCEIA) conducted by the Malaysian Insurance Institute (MII).
To meet the criteria as a wealth planner, he must move the certificate examination in investment-linked life insurance (CEILI) conducted by MII and complete a certain quantity of hours of training. Working out will not stop after he becomes a full-fledged agent: he can buy relevant licences and go through programs on specific products and professional development, to equip himself to better provide his customers. Wong, from Johor, has an accounting background.
But after crunching numbers for awhile, he chose it wasn’t his glass of tea. How does a person ensure that an agent is certified to an insurance provider, which he shall keep her financial information private? And, moreover, that he has his client’s interests in mind . To ascertain the legitimacy of a realtor, Wong says, call up the insurance company he signifies to confirm that he is part of the team. Following a code of conduct and ethics for the Malaysian life insurance industry, all agents must disclose the company they represent and the type of financial services they may be authorised to market.
During the initial appointment, a person can get the agent to ask how she has been working long, how much insurance plan she has, and what financial products best suit her needs and budget. Armed with such information, he can then advise her on making informed decisions. What if one encounters a “forceful” agent?
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Alternatively, your client can ask the insurance company to assign her another agent. Integrity and product knowledge aside, after-sales service is important, he adds. A realtor needs to keep in touch with his client, several times a year, to review her insurance and financial needs. A good agent reminds a client about premium payment dates, and ensures her personal details are updated, and that she’s nominated a beneficiary on her behalf policy. Back many years ago, standard procedures were life insurance coverage and endowments, and insurance providers would annually declare dividend or reward.
There was also the assured cash value of a policy. But after 1990, Wong says, changes came in and investment-linked insurance products were introduced. According to LIAM, investment-linked plans combine investment and security, and the option is got by the client of choosing what suits her. Besides financial security, what he enjoys most about his job is helping people care for tedious processes at a time when these are most vulnerable. Nothing at all is better than the satisfaction of handing a cheque to a grouped family when they need it most.
With interest rates sitting near zero right now, debts issuances are up as firms make the wise selection of refinancing debt loads at higher rates. That provides Moody’s a reliable blast of business to maintain with now. The regulatory and general public scrutiny that Moody’s confronted in the wake of 2008 provided the right lessons for management, rendering it much less likely that MCO can make the same errors twice. Moody’s business extends beyond debt ratings; like its peers, the firm also markets research and quantitative databases, products that (like ratings) are capital-light and produce impressive margins.
In many ways, Moody’s dominance has held because it’s one of the only video games in town, which edge is a big plus for traders. Financially, Moody’s is who is fit. The firm maintans a balance sheet that’s almost debt-neutral, and the firm operates in a high net-margin business with few major capital costs.
As momentum drags shares of MCO higher in 2014, traders should continue to get rewarded because of their patience. As I write today, the common age group of a car on the road here in the U.S. That’s providing some big opportunities at auto parts retailer AutoZone (AZO). As motorists seek to extend the lives of older vehicles, AZO’s parts business should continue steadily to enjoy big organic growth. AutoZone’s network spans around 4,700 stores in the U here.S.