A netizen shared a story of a case that happened not too far back within his insurance agency team.
Here is the story
“I’m a manager of an insurance team with ‘A’ agency and have been the leader, mentor and friend to the insurance agents under me.
Agent S approached me one day to take a loan of $100k from me because of his gambling debts.
Seeing that he is also a friend, I agreed to help him and planned with him his finances and how to repay this loan.
I negotiated with our Insurance company to give him a basic of $8k and the condition that was given was that he hit $8k worth of comms to qualify for the basic.
To help him achieve this, I gave him some of my high net worth clients to service to enable him to hit the target as he was still relatively new and it would be quite hard for him to hit $8k comms every month.
The $8k comms will then be his earnings and he was to take the $8k basic to return to me.
He eventually hit the MDRT for that year as well with my help.
However, I never ever saw my money back as every time when he got his basic, he would always come up with an excuse that he needed the money to settle urgent stuff and will always push it to the next month.
He still diligently met up with clients and closed deals but every time he received the money for policy payments, he would cook up stories again and again that he needed the money to pay off something and would ask for my help to settle the money with the insurance company first.
He even had the cheek to tarnish my reputation and caused a few people in my team to leave with him.
At the end of the day, I did not get a single cent back and forked out and extra $20k to help him, making me lose a grand total of $120k.
I am just glad that he has left with those few insurance agents.”
Image source: unsplash.com