Thanks to those whom have responded.
Sage... its a big one yes (actually that's what got my interest as at first as I naively believed it would be working directly for them) it´s not the blue or the green one. God only knows what I have signed so far .
I did get a UK legal contact of mine to glaze over it and they couldn´t quite believe the conditions of the contract. Like LifeinHK said it´s definitely scrapping the limits of Labour laws.
I also read they are on a recruitment drive and have increased the FP headcount by around 20%... and pushing. No doubt bombarding many ex Cathay employees....
Massive churn rate on these jobs.
I’m admin of a working in HK Facebook group, I see the same old ads week after week.
If you don’t have a large network I.e outside of friends and family then don’t do it.
Out of interest, how much commission does one earn from selling an insurance policy to someone (rough range)?
I remember some horror stories from people on the other end getting sold dodgy investment-with-insurance-wrapper products that weighed them down for years afterwards
Definitely not something I'd want to sell to friends and family.
It's probably Prudential. They are famous for their "network marketing" scheme which mostly involves selling overpriced life and "savings" insurance products.
They used to be very popular with mainlanders but have been branching out to foreigners now that the border has closed.
I know a few people with this "job" and I feel that them asking me to help a friend out to meet their quota has cheapened our friendship. No I don't want a "savings insurance plan with a guaranteed return after 7 years".
Yes, it was Prudential for me, it's clearly a shitty gig, but when people have no other source of income I can appreciate why they get sucked in.
Insurance by it's nature is fairly parasitic, just look at the mess it makes of US health care, and these jobs are the lowest end of an already grubby business.
The right page to refer to in Geo to form an impression of whether to take up this job, are those threads that started off asking 'should i invest in this insurance product' and you will get very good impression after you see the quick bombardment of comments.
I work in the industry, and the fact we don't do agency distribution helps me sleep a bit better.
Very grubby business... costly for the agents from a personal perspective, for the customers, and even for the insurance companies. The bit you don't see is the parasitic layer of “godfathers”... basically middle men who run and recruit the pools of agents. They take just as much commission as their agents, which eats into what the companies make and what policyholders earn really badly.