Do Financial Consultants get additional commissions when I swap one plan to another?

In most cases, a commission is payable whenever a client signs up for a new plan.

But instead of focusing on the commission paid to the agent, we should spend more time to understand more about you. In detail, let's go back to understand the term insurance plan that you have as well as the purpose that it serves.

Next, we will evaluate the proposed whole life insurance policy and whether it is a better fit for you. In case you are wondering, here is a general comparison between the two: https://www.blog.pzl.sg/term-vs-whole-life-insu...

While each policy has its pros and cons, this is when we should spend quality time to understand your needs and long-term goals. Through this process, it allows us to find the right plan that we need, rather than the wrong plan that the agent tries to sell.

Here is everything about me and what I do best.

Hi Leo,

Every new plan sold will pay a commission to the advisor. So yes, he will get a commission on the new plan. However this is likely churning and would be illegal.

Ask him to show you how you could possibily benefit from this switch. FlexiLife seems to be an old plan, so why wasn't something like Supreme Multiplier suggested, if the goal was to have whole life CI coverage without a lifetime of premiums?

Lastly, about that: "can get money back at the end of my insurance". FlexiLife seems to be a whole life plan. There's no reason to surrender a whole life unless you need to access the cash value. The payout will always be higher than the surrender value if you claim on a whole life (either upon CI or death). "Can get money back at the end of my insurance" is a very weak argument.