A small step for you and me

Today, I decided to write an article about small Personal Accident (PA) story to help new insurance agents who don’t know where to start. Hopefully other agents can also help someone who can’t afford to buy medical insurance but would like to have insurance coverage like a personal accident insurance.

When I started with general insurance, I was so happy and excited when I sold my first Personal Accident policy with annual premium almost RM100 (I think less than RM100, let’s make it round figure) with Sum Assured of RM50,000. The case was referred by my relative who was selling life insurance at that time and old times life agents don’t sell general insurance much. Some don’t even sell at all as people tend to buy a smaller plan. The commission was only a tiny amount around RM20 for a year. The happiness was not the same compared to motor insurance, which road transport act make us compulsory to have motor insurance in order to get your road tax done and legally on the road.

What triggered me to write this article today? I actually came across this customer who was considered not so rich, not really in poverty as well. His current age is 62 and working as a construction site supervisor. Of course he doesn’t have much saving or else he won’t need to work at this age but enjoy his retirement.

Luckily as insurance plans innovate, he can still be accepted at his age, for life, medical and personal accident insurance. When it comes to big premium to buy medical insurance which he couldn’t afford with his current financial status, he decided to get a RM100,000 Sum Assured cover for personal accident. The premium is affordable by him (less than RM200 per year) and the cover does not seem low. Of course there are still lower Sum Assured personal accident plans which he can shop around with lesser premium. However, he choose to buy from me after we discussed about medical plan and also the premium.

He understands with the limited resources he has now, he can get a accident cover which is better than no cover at all, because he is also concerned about living a legacy behind if any unfortunate event happens.

I did not bring a proposal form with me because it was late at night and I actually only saw him to deliver his motorcycle insurance and road tax. I have a habit of finishing my work on the same day as everyday also has new work like all of working adults. I don’t like to drag my work unless I really cannot finish it. Time management is important for all of us and I as mother of two I cannot escape from sending and picking kids like all working mothers do. After discussing and confirming with the insurance company about his occupation class, I told him the premium and he decided to buy it immediately. I get in cover immediately (another 2 minutes to midnight so we decided to start cover on the next day) and arranged to see him tomorrow to sign the proposal form.

This reminds me when I sold my first personal accident policy when I became newly a general insurance agent 19 years ago. I believe most agents went through this when we were so happy even if it’s only a small policy. As we agents grow over the years, and the bigger and bigger cases we closed, we tend to forget a small policy can actually help someone on the road. It means something to someone, to some families, and can bring the most happiness to us as they also can get covered with the limited resources they have in hand.

It’s just like if you have millions and few thousand for you means nothing and if another only have one thousand, the one thousand meant all to them. If you are new agent or a non productive agent, think of start small and start planting something today. Every agent went through small policies and with your hard work, you can accumulate more and more in the future.

If you are layman with no insurance at all and would like to have some cover, think of personal accident policy which is affordable even if you have a tiny income or little saving left after the basic needs for food and shelter. Of course insurance is not a must nor a need but something that you can leave behind for your loved ones.  Personal Accident insurance that cover medical expenses can help you ease your burden if you need to seek treatment in case of any accident happen. Just a simple fall has treatment and X-ray fees.

Today’s event also reminds me when I was in my first year doing life insurance. I shared a plan with a potential customer at a small coffee stall. My voice was so loud that I disturbed the old uncle next to my table. After I have finished with the prospect, just before I prepare to leave, the old uncle turned and asked me can he buy the plan? I was shocked and he told me that he actually interested with the plan features when I presented it to my potential client. However, I repeated the presentation and he signed on the spot. The original prospect did not sign. He was almost 70 at that time if I am not mistaken because at this point of writing, I don’t have his file with me but I remembered it because the monthly minimum premium for the plan was RM50 and he bought that.

I felt satisfied and happy not because I closed the deal. It is the customer who decided to buy a policy that makes me so touch that something small really can mean a lot to someone we tend to forgot or ignore.