Today in Sunday Times titled “US$5m insurance scam”, it was reported that an Indonesia businessman is suing an Top of the Table (TOT) ex-insurance agent for selling him a fake insurance policy called the “Thank You Policy”. In her defense, the ex-agent claimed that she was merely an accomplice as the ploy was conceived by the client. Although the court will have to decide who is telling the truth, what is certain is that the agent did not deny being part of a scam.
If you looked closely, the agent was a Top of the Table (TOT) as she earned more than $300,000 in 1999 and 2000 and one of the youngest to achieve TOT in the world in 2000. At just 23 years old she had already achieved TOT. It was really amazing. The Straits Times also profiled her in 2001 in one of the story. I am also amazed that at that young age, she was already serving high networth clients.
Well, 10 years later, her pass deeds have come to haunt her. For a related story, see What is Million Dollar Round Table and Top of the Table and LIA’s robust sales figure in life insurance unrelated to insurance