Getting Life insurance should not be delayed: Niva Mali, Senior Agency Manager, Citizen Life Insurance

Niva Mali Maharjan is a famous insurance agent of Citizen Life Insurance Company. Niva, who has been working through Citizen Life’s, Koteshwor branch, is busy with her main business of import and export. Despite her busy schedule, she has spared some time to be active in the insurance business.

Mali who was born in Shankhamul, got married in Manamaiju. Although she is a local resident of Kathmandu, who is enjoying her old business, has joined this business with her own heart thinking she should become an insurance agent and serve the insured. She says that rather than making money, she participated in the great campaign to increase insurance access because insurance provides financial security to the lives of ordinary citizens by protecting them from risk.Here is a summary of the conversation that Beemapost’s Rina Khatri had with Mali:

How long have you been involved in the insurance sector? How did you join?

It has been four years since I joined Citizen Life Insurance Company as an insurance agent. We have been reading about the need for insurance from earlier. I also knew that insurance is important but had not participated practically. Later, I was able to learn and understand many things during the conversation with the heads of the Insurance Company. I found out that not getting insurance is required, but providing insurance to others is also equally important. And later I joined this profession after being influenced by his words.

What do you understand by insurance?

To answer it simply, insurance is to bear the risk of human life. To be insured there must be an uncertain risk. Life insurance is a means of transferring uncertain risks and also saving the money that people have earned in life for future.

What feedback did you get in the field while working as an insurance agent?

Many people have different opinions on this. I got a positive opinion from everyone regarding the insurance. After we convince other then only people will agree to get an insurance. According to my experience, middle class age group people will agree to get insurance. Children and elder people are seen less interested in Insurance. We have to do a lot of work on this. We should do more for the people than for the agents.

How important do you think the agent is to the company?

The role of an agent is very important for an insurance company. 90 percent of the total insurance business comes from the insurance agent. Therefore, it is very important for the insurance companies to make the quality of insurance agents. The insurance company only gives us information and encouragement about the policy. It is the agent who has to work in the field, so the role of the agent in this profession is vital.

What profession were you involved in before becoming an Insurance agent ?

Before entering this profession or even now, I have my own family business. It has been 10 years since I opened this company. Insurance profession is my additional profession. I have to give full time to my own company but I am working part time as an Insurance agent. More than the income obtained from this profession, I feel proud that I am able to provide Insurance to the people and secure their family risk as well as provide saving for them for future.

How do you see your future in the insurance agent profession?

I have not taken the profession of an agent as a profession. I have taken this profession as a social service profession. Because insurance is necessary for everyone as it bears risk of any problem that might occur in insured’s life in future. I am proud to be part of a great campaign to increase access to insurance and protect people through insurance.

What is a successful agent in your point of view ?

The one who has been involved in the insurance profession for a long time and works in a service manner is the successful agent. In order to be a successful agent, the continuation of insurance, the expansion of insurance business, and the correct underwriting process in the insurance company that will them to increase the ability to properly explain about the insurance to the insured. These qualities will help an agent to get success in Insurance Business.

What is the reason for joining Citizen Life Insurance?

The first thing is to choose a company that has a long-term development goal in the insurance sector. Another thing is that I had insurance with this company. And one day when I was going to pay the premium, company’s sir suggested me that I should help to get insurance for others too then I also joined this company as I knew that insurance is very important and useful in order to bear the risk that might occur in future. After joining, I get the feeling that I have joined the right insurance company. The bonus rate of this company is continuously increasing. The company is looking at the sustainable development and future of insurance. That is why Citizen Life is the best insurance company. How and whom did you get your first insurance?

I initially thought of starting from my own family. At first, I called my brother and asked, “Brother, did you get insurance?” After getting the answer as ‘No’, I told him that insurance should be taken as it is an essential thing for the future, it carries risks and said him that I have also taken insurance. I also reminded him that he and his sister-in-law should also be insured where I was able to convince him the importance of Insurance. Being able to convince him was my plus point as he was able to convince others to get insurance through my views regarding insurance which help me as well.

 How difficult was it to insure other in the field?

It was more difficult to get insurance during the Corona crisis than at any other time due to the economic recession. Due to the economic recession everywhere, it was difficult to even get food, and it was very difficult to get insurance at that time. However, the atmosphere gradually changed. I am optimistic that the business of insurance will grow further in the future.

Is the insurance for High level or for Low level people as well?

As I understand it is for both. Insurance means saving that does not get collapsed. It is the process of saving a little by little now and getting a lump sum in future. In other hand it bears the risk as well so, it is also a protection of life. Just like everyone’s blood is red, life insurance is important for both the rich and the poor. It is even more important for the poor people because they can save a little by little amount for insurance in the present time and insurance will bear the risk that might occur in future even if it is of huge amount. In other hand future safety is more important for poor people which insurance provides.

What is the agent’s responsibility to the insured after the insurance?

It is the responsibility of us as an agent to provide general advice on insurance and the rules of the policy after insuring. After the insurance, the insured should be reminded for the premium. I have insured more than three dozen people during four years. I am in touch with all of them. And so far not a single claim has come and no insurance policy has lapsed.

After joining the agent, what are the positive changes you found in yourself?

After becoming an agent, the ability to speak develops and personality as well. This is also an important thing. It has a great impact on increasing the intellectual capacity of a common person. Due to this profession, one can easily mingle with people. Being able to go to different places in the country and abroad and get to know and mingle with the people is a part of the profession. While life is an interesting art, social life as an insurance agent is an excellent profession.

What is the situation of insurance in the present market? Is it possible to get insurance easily or not?

It is still difficult to get insurance. Due to the lockdown during the Corona period, the economic recession has not completely left over yet, but now it is little easier than during the Corona period. At the corona time, an insured told me that he could not pay the premium, and want to cancel the insurance. He told me that there is no problem if the insurance money won’t be returned after cancelling the insurance but he want to cancel. At that time, I was happy with his decision of understanding.

What is the answer when the insured asks why to get insurance in Citizen Life?

Even, according to the information published by the insurance companies, Citizen Life is excellent. The bonus rate has also gone up a lot. Since the company is moving towards long-term development goals, the bonus rate will increase further in the future, so it is also beneficial for the insured to have insurance in Citizen Life compared to other companies. It seems that citizen life has more benefits in terms of both risk bearing and savings. The policies of Citizen Life are as per the choice of the insured, so I advise you to get insurance from Citizen Life.

Which policy is most preferred by the insured?

The policy most preferred by the insured and sold by me the most is “Jeevan Sarathi Beema Policy “. I have also purchased this policy. But in terms of paying low premium, “Subhaarambha insurance policy” is good.

How positive are parents regarding children’s insurance?

Parents are also positive about insuring their children. Some parents come to get insurance for their children themselves thinking about the bright future of their children.

How comfortable are women in the Insurance Agent profession?

There is no such thing like men or women in this profession. Those who can do well will be the best. Some people get away saying that women can’t do it as they have a lot of responsibilities at home which is not true. If females are given opportunity then they can work better in this profession as well.

Do you have family support to join in this profession?

I have a lot of family support to join this profession which has made me more energetic. But some women have not been able to join this profession due to lack of family support.

What advice would you give to those who want to enter the insurance profession?

Positive thing about this profession is that there is no time limit in this profession. You can work at any time. The more you can do, the more you will get. It is not necessary to full time in this profession only after entering in it. If you join as an insurance agent and continue to work well, there is a future in it.

What are the problems in the Insurance Agent profession?

Even people who know about insurance, are also not willing to get insurance as they have doubt with the insurance companies regarding many issues. Many people still don’t believe about Insurance companies doubting that whether the insurance companies will return their money or not and whether the insurance companies will provide their insurance claim in need or not. Such opinions can still be found in many people. Insurance companies should carry out awareness programs to reduce these misconceptions.

Finally, what should the insurance company or the authority do to make the future of the agent bright?

Not only insurance companies and authorities but also the government should be involved in this. In other countries, the scope of insurance coverage ranges from 90 to 95 percent. But if we look at the context of Nepal, the scope of insurance is very low. I see that if the government takes more initiatives and makes insurance a basic requirement like education, it will benefit the entire country including insurance companies and agents.