"Life Insurance is the only tool that takes pennies and guarantees dollars." - Ben Feldman
Some pople regard life insurance like ''branded'' goods. Not everyone can afford to buy life insurance. Apparently, in 1993, in Malaysia, only the top 10% of the population had life coverage. In Singapore, it was closer to 50%, which i presume must have been the top 50% of society.
While the motive to buy may be driven wrongly, the end result is mercifully correct.
So, we get people to buy because this comp[any ''A'' is listed on the Stock Exchange. Another chooses a company because it is internationally well known. A third person fancies a company, which has its headquarters in some exotic part of the world. Be as it may, they feel that buying life insurance sets them apart from the common people. A little snooty perhaps but there are right on one score - most people who posess life insurance have recognised the value of life insurance and followed through with purposeful action.
One agent had reasonable success with his prospects because he offered them life insurance as if it is a form of membership. He said: ''You become a member of an exclusive club. If anything happens to you, all the other members share in ensuring that your family gets a certain agreed amount of money. By the way, all these members belong to the better class of society. Would you like to join?'' Life insurance, like certain women's handbags, should be bought on their own merits. But people being what they are see ''branded'' goods as being worth the additional value.
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