Advisors
give mixed reactions to the company’s latest advertisement in which an agent
resists temptation to mis-sell a policy to a prospective client.
Max New
York Life Insurance’s latest commercial featuring an advisor trying not to give
in to his temptation to misguide a prospective client into buying a wrong
policy has generated a lot of buzz among financial advisors. The advertisement
features an insurance agent as the protagonist than the product or investor.
Will the commercial help in raising the trust level for advisors? Cafemutual
spoke to leading financial advisors to find out what they have to say.
A
welcome change
“Insurance
advisors have been slammed time and again. Insurance firms have recognised this
fact and they are trying to address it. It’s a welcome change. This
initiative is good for the industry. Other companies may also follow suit,”
says Suresh Sadagopan of Ladder 7.
Can’t
generalise that all advisors are bad
“It is not
necessary that the advertisement is trying to criticise other agents. I don’t
think we can generalise that all distributors have been shown in the bad light
since they have a closed architecture model. The commercial says that the
company’s advisors are well-trained and will not indulge in any wrong activity.
One can’t run away from the fact that mis-selling occurs and the advertisement
aims to highlight this,” Hemant Rustagi of Wiseinvest Advisors.
Far from
reality
“It may not
translate on the ground. The advertisement says that the policy is a long term
savings product. Life insurance is not a savings product. It is supposed to
protect your family against any uncertainties,” says Dinesh Khemlani of Comsol
Financial Solutions.
Not in
the right spirit
“It is not
in the right spirit. The advertisement portrays that their agents are good
which might not be the case,” says Yogendra Joshi of Moneybolism Financial
Solution.
Train the agents
“It will be good if the portrayal is backed by actual
action. For this the company has to train the agent and inculcate the right
attitude. In the high pressure selling world of Life Insurance how this can
happen remains to be seen,” Yogin Sabnis of VSK Financial Services.
Do let us
know what you think about Max New York’s latest commercial.
Source: www.cafemutual.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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