e-WME 3.0 Workbook (Eng) Rev02 Dated 01092019

3.
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Wealth Management Empowerment 3.0
1
Rev02 dated 01/09/2019
Program Overview
How do you begin your journey to wealth success?
Today, everyone has access to the path of wealth

success. What was once a secret to a selected few is now
revealed to all. From understanding the needs of your
clients to helping them protect their wealth from the
inflationary effects of time, Wealth Management
Empowerment will show you how you can start driving
towards effective wealth management for both yourself
and your clients.
Use this material as your guidebook not just during the

course of this program but also through your life as you
implement the wealth tips here not just for your own use
but also for the use of your client.
Happy Learning!
Future Segment, Learning & Development
2
Wealth Management Empowerment 3.0 Rev02 dated 01/09/2019
Learning Objectives
After completing this program, you should be able to:
• Closing more and bigger cases through needs based

selling
• Providing financial health check analysis for our
customers
• Providing sufficient financial protection for our

customers
• Asking powerful questions to determine our

customer’s hot buttons
3
My Financial Goal
My financial goal is to achieve:
4
Insurance / Takaful provide financial protection through
5
6
7
8
9
10
11
12
13
14
15
16
Case Study
17
18
19
Examples of Cash Inflow
Examples of Cash Outflow
20
Cash Flow Identification
Identify if the following items are Cash Inflow / Cash

Outflow / N/A
Cash Inflow
Cash Outflow
21
22
Notes:
23
Cash Flow and Net Worth Statement
Thompson works in the construction industry and is earning

a high income of RM 10,000 a month. Every month his fix
expenses are House Loan installment – RM 3000, Car Loan
installment – RM 1300, Pocket Money for parents – RM 800.
He also spends about RM 700 Utilities (electricity, water
and internet). He also pays for Cable TV (RM 300 monthly)
but seldom watches it. His petrol & toll expenses are about
RM 700 monthly. He also spends about RM 1000 on food
and luxury. He currently has RM 10,000 unit trust and RM
10,000 in Fixed Deposit where he pays about RM 500 each
every month. He also pays about RM 500 monthly for
credit card installments. He’s currently living in a
condominium which is worth RM 800,000 and the
outstanding loan of RM 650,000. He drives a BMW 3 series,
worth RM 180,000 and owes the bank RM 150,000. He also
owes the bank on credit card debt of RM 10,000. He
currently has Takaful protection of RM 250,000.
24
Cash Flow Statement
25
Net Worth Statement
26
27
28
Pop Quiz – Become Millionaire
29
Property Value
30
Pop Quiz – Own Property Value
31
Education Fund Savings
32
Calculate how much you will need to set aside
for your child to study tertiary education
1) Cost of education today – PV
2) Number of years before your child goes
to study – Period
3) Annual Rate – 6%
4) Calculate for FV
33
Door Opener Presentation for Insurance and Takaful
Needs
34
28,000 MAGIC NUMBER SCRIPT
Notes:
35
Asking Key Questions
1) What effect did the questions have on your partner?
2) Which KEY questions impact you the most? WHY?
36
Case Study 1
Ms. Sara Atiqah
A 23 year-old young fresh graduate from University

Malaya. Sara would like to buy her own insurance
protection. She currently owns an insurance policy which
was bought by her parents.
After fact finding , she is thinking of having RM3,000 per

month for her parents for 20 years if she disappear from
the picture. Besides, she has no investment experience at
all.
Apart from that, she has told you a good news that she
has just accepted a new offer as a pharmacist @ Hospital
UKM, and this happened during her birthday which was
on 30th April.
She can be contacted via her whatsapp number – 012-

2244660
37
Case Study 1: Ms. Sara Afiqah
Existing Policy/Certificate
Amount of
Insurance/Takaful Plan Type
Coverage (RM)
Death
Regular
100,000
Premium ILP
Total Permanent Disability
Critical Illness ILP Rider 80,000
Medical Coverage - -
Accidental Coverage - -
Savings Plan
- -
(Retirement/Education)
Others - -
38
Case Study 1: Ms. Sara Afiqah
Amount of
Coverage (RM)
Death
Regular
100,000
Premium ILP
Total Permanent Disability
Savings Plan
- -
Others - -
39
Case Study 2
Ms. Lowgas Bobawary (06/12/1980)
A newly married businesswoman for Tealive, plans to

review her policy with you about her life stage changes
and insurance needs.
She currently has a policy from another company which

she bought 4 years ago, and would like to know how
much is enough to cover her family needs for 30 years in
the event of death / TPD happens so that she can have
peace of mind. Her monthly expenses is RM 6,000.
She has just updated her personal profile with you:
HP: 012-5566789
Marital status: Married
40
Case Study 2: Ms. Lowgas Bobawary
Amount of
Coverage (RM)
Death
Regular
Total Permanent 400,000
Premium ILP
Disability
Critical Illness - -
Medical
No Annual Limit
Medical Coverage Card Rider
Lifetime Limit 1.5mil
R&B 300
Savings Plan
- -
Waiver of Premium ILP Rider 300
41
Case Study 3
Mr. Ken Ding Shen Bing (06/12/1978)
A newly married client, who works as training manager at

IBM, plans to top up critical illness policy because his
friend just passed away due to lung cancer.
His colleague told him that those who suffer from Critical
illness will normally needs RM 6,000 per month for 10 years
to maintain their lifestyle. Mr. Ken agrees with the
suggestion and would like to buy a RM500,000 CI
protection coverage.
However, he would like your advice whether this CI

coverage is sufficient to meet his needs. He can be
contacted via HP: 012-4466889
* Mr Ken has no investment background
42
Case Study 3: Mr. Ken Ding Shen Bing
Amount of
Coverage (RM)
Death
Regular
Premium ILP
Disability
Medical
Annual Limit 120K
R&B 200
Accidental Coverage ILP Rider 15,000
Savings Plan
- -
43
Case Study 4
Paul Bao Liang Cha (Age 40, 1/1/1978)
You have just met Paul, a 20 years of college mate from

UTAR. You just shared with him about the importance of
reviewing policy in every life stage changes.
He just realized that after 20 years of working, he never

had a proper review of his insurance policy and would like
get your help to do a simple review.
Mr. Paul told you that the coverage should be sufficient

for his family for 15 years if he should disappear from the
picture, or if he suffers from any critical illness because his
company is providing him 1 Million Personal Accident
coverage as he is a Relationship Manager at IKEA
Damansara.
His current monthly expenses is RM7,000 with 2% of

inflation adjusted return annually. He would like you to
follow up with him for another appointment tomorrow .
(019-2255136)
44
Case Study 4: Mr. Paul Bao Liang Cha
Amount of
Coverage (RM)
Death
Regular
Premium ILP
Disability
Accidental Coverage
ILP Rider 100,000
(Personal)
Accidental Coverage
ILP Rider 1,000,000
(Company)
Savings Plan
- -
45
Case Study 5
Richie Chin Wu Lui (800575-14-5XXX)
Richie Chin, a wealthy business man who would like to

purchase another policy from you. He is currently
spending RM20,000 a month to maintain his lifestyle and
would like to make sure there is a peace of mind for
himself should he suffer from any critical illnesses.
He is currently single.
His current insurance policy can be found at next page.

He can be contacted via whatsapp 0129988765
46
Case Study 5: Mr. Richie Chin Wu Lui
Amount of
Coverage (RM)
Death
Regular
100,000
Total Permanent Premium ILP
Disability
Medical
Annual Limit 200K
R&B 300
Accidental Coverage ILP Rider 150,000
Savings Plan
- -
47
Objection Handling
Why Do I Need To Give You My Personal Information?

I Am Un-comfortable To Provide You These Information.
48
Objection Handling
Why do I need to do a needs analysis?
49
Objection Handling
Can I Not Implement Now? Can I Do It Next Year?
Or Can I Do It When I Have A Salary Increase?
50
Confidence Booster 1
Why Do I Need To Give You My Personal

Information? I Am Un-comfortable To Provide
You These Information.
Providing me with your personal information will help me

to understand your current financial situation better. This in
turn will enable me to better recommend solutions to
meet & achieve your financial goals.
It’s like tailoring a suit. The more detail measurement a

tailor takes from your body, the better fitting will be the
suit.
If the tailor do not take detail measurement or worst do

not take any measurement at all, you can be assured that
the suit will not fit you very well.
Our job is to take all the necessary personal information

from you & tailor-make a proper financial plan for you.
51
Why do I need to do a needs analysis?
Financial Needs Analysis is done to determine your

shortfalls for the various financial goals like income
protection upon pre-mature death, long term disability
& dread disease & planning for retirement & children’s
education
If we do not do the analysis, we will not know your

needs & the shortfalls are. It will be difficult for me to
recommend solutions for you
It’s like a doctor prescribing medications to you without

doing any examination or asking you questions. It will
not be correct & professional
52
Can I Not Implement Now? Can I Do It Next

Year? Or Can I Do It When I Have A Salary
Increase?
It is always not good to implement the solutions another

time. If you agree to all the financial numbers & the need
to meet the financial shortfalls, then it will make sense to
take action to implement solutions to solve it now.
Human works in a strange manner. If there is a need &

urge to do something good, let’s do it now. If we leave it
to another day, we will either forget about it clean or we
simply do not have the same enthusiasm to do it
Moreover, we can never predict what will or can happen

to us tomorrow. Some un-predictable events may strike us
& we will lose the opportunity to provide financially for the
family.
53
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In Summary
1. Needs Based Selling is both art & science
2. Need to practice & use it in the field
3. It will help you to generate more cases & more TPC

per case
4. It can help you to secure the next sales
5. It will also improve your professional image
55
Notes
56

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3.

How do you begin your journey to wealth success?

Today, everyone has access to the path of wealth

Use this material as your guidebook not just during the

Future Segment, Learning & Development

After completing this program, you should be able to:

• Closing more and bigger cases through needs based

• Providing sufficient financial protection for our

• Asking powerful questions to determine our

My financial goal is to achieve:

Examples of Cash Outflow

Identify if the following items are Cash Inflow / Cash

Thompson works in the construction industry and is earning

1) Cost of education today – PV

2) Number of years before your child goes

1) What effect did the questions have on your partner?

2) Which KEY questions impact you the most? WHY?

Ms. Sara Atiqah

A 23 year-old young fresh graduate from University

After fact finding , she is thinking of having RM3,000 per

She can be contacted via her whatsapp number – 012-

Critical Illness ILP Rider 80,000

Critical Illness ILP Rider 80,000

Ms. Lowgas Bobawary (06/12/1980)

A newly married businesswoman for Tealive, plans to

She currently has a policy from another company which

She has just updated her personal profile with you:

Marital status: Married

Mr. Ken Ding Shen Bing (06/12/1978)

A newly married client, who works as training manager at

However, he would like your advice whether this CI

* Mr Ken has no investment background

Paul Bao Liang Cha (Age 40, 1/1/1978)

You have just met Paul, a 20 years of college mate from

He just realized that after 20 years of working, he never

Mr. Paul told you that the coverage should be sufficient

His current monthly expenses is RM7,000 with 2% of

Richie Chin Wu Lui (800575-14-5XXX)

Richie Chin, a wealthy business man who would like to

His current insurance policy can be found at next page.

Critical Illness ILP Rider 130,000

Waiver of Premium ILP Rider 300

Why Do I Need To Give You My Personal Information?

Why do I need to do a needs analysis?

Can I Not Implement Now? Can I Do It Next Year?

Or Can I Do It When I Have A Salary Increase?

Why Do I Need To Give You My Personal

Providing me with your personal information will help me

It’s like tailoring a suit. The more detail measurement a

If the tailor do not take detail measurement or worst do

Our job is to take all the necessary personal information

Why do I need to do a needs analysis?

Financial Needs Analysis is done to determine your

If we do not do the analysis, we will not know your

It’s like a doctor prescribing medications to you without

Can I Not Implement Now? Can I Do It Next

It is always not good to implement the solutions another

Human works in a strange manner. If there is a need &

Moreover, we can never predict what will or can happen

1. Needs Based Selling is both art & science

2. Need to practice & use it in the field

3. It will help you to generate more cases & more TPC

4. It can help you to secure the next sales