When an agent meets you for the first time, on the pretext of a “policy review”, and recommends that you surrender your policy, that is the first red flag. 🚩
If it is meant to help you reduce premium as you’re currently financially tight, the agent should justify why that particular policy should be surrendered, and how does it impact you.
If it is so that you can get a “better policy” from the agent, that is churning. Red flag #2 🚩
Worse, premium is higher than what you’re currently paying. Red flag #3 🚩
To add on to it, despite it being a review, agent already has a “template policy” to recommend, having stipulated the coverage amount. That’s product pushing. Red flag #4 🚩
Not highlighting that it is an investment-linked plan, while your current plan is whole life or term, which would impact you should you surrender the policy. Red flag #5 🚩
And to wrap it up, claiming that your current policy is not “Islamic” so that you’d consider her recommended policy. Ultimate red flag. 🚩🚩🚩
Why am I sharing this? It’s to help you identify the red flags of an agent who’s merely pushing a product, rather than providing appropriate financial advice and planning.
There are many trustworthy agents/planners/advisors who’d do the right thing when engaging you as a client.
Sadly, agents like the above tarnish the industry’s image, reputation and professionalism.