Charlie Monger's 3 Rules for Career. What Insurance Products Do You Own?

[entrep1776]

HAVE to have life insurance with FULL living benefits.

Thanks will investigate.

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something permanent. I think a 10 Pay would be a great deal for you.

I thought I was talking to experienced agents

Thanks will investigate.

 

[DHK]

Please talk to an older, more experienced agent. You just described that you don't have a need for term, but you just outlined a great need for something permanent. I think a 10 Pay would be a great deal for you.

Wow. Without a fact-find, you're ready to make a recommendation? Reminded me of this guy:



"Have you ever heard of single premium life? Because I think that really could be the ticket for you."

 

[scagnt83]

Life
DI
Health
Home
Auto
E&O

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Im surprised how many agents did not list Disability and E&O....

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I like the 3 rules. Number 2 and 3 are something to strive for more than live or die by. But sometimes it takes courage and risk to do the right thing. (many indy agents can relate with taking that risk)

I think for us agents, #1 is more about the individual product recommendations we make vs. the line of insurance we sell.

Imo, for us it means "Only recommend what you yourself would buy if in their shoes".

Insurance is a benign product. It only does harm when recommended in an unsuitable fashion.

 

[walthamny]

Life Whole Life and term
Health
Auto
Umbrella
Dental ( until the major work is completed)
E&O
Cyber Liability
Pet
Small DI ( I wish I could add more)

I am thinking about adding these in the future.

Alien Abduction Insurance
Zombie Attack Insurance (Lloyds of London sells these)
Divorce Insurance

 

[Matthew King]

Life
DI
Health
Home
Auto
E&O

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Im surprised how many agents did not list Disability and E&O....

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I like the 3 rules. Number 2 and 3 are something to strive for more than live or die by. But sometimes it takes courage and risk to do the right thing. (many indy agents can relate with taking that risk)

I think for us agents, #1 is more about the individual product recommendations we make vs. the line of insurance we sell.

Imo, for us it means "Only recommend what you yourself would buy if in their shoes".

Insurance is a benign product. It only does harm when recommended in an unsuitable fashion.

I forgot to list my E&O :(

 

[somarco]

Too old for disability insurance.

Don't know how to spell e and o without putting the i in the middle.

 

[Mattjm24]

Let's clarify #1. The American College Professional Pledge fits in here:

"In all my professional relationships, I pledge myself to the following rule of ethical conduct: I shall, in light of all conditions surrounding those I serve, which I shall make every conscientious effort to ascertain and understand, render that service which, in the same circumstances, I would apply to myself."


Just because you sell something, doesn't mean it makes sense for YOU to own it, but it can make perfect sense for someone else - based on THEIR situation and circumstances.

My thoughts exactly.

I own:
Term
Whole Life
Auto
Renters
Health
Dental

 

[FEX Quotes]

Curious which insurance products agents own?

I don't believe in insurance

 

[Gulliver]

Auto
Home
Life
Disability
Health
Annuity
Dental

 

[aclaro]

I'm single and make plenty as well, but you HAVE to have life insurance with FULL living benefits. I think it's especially important when you're single and don't have that second income to fall back on if you survive a major medical event, but can't work any longer. You do not want all of your savings eaten up because you were fortunate enough to survive a heart attack!

Really? I think you mean income protection (disability insurance).