CMG launches salary scheme

CMG Asia Life Assurance has introduced two new recruitment strategies to boost its agency sales force ahead of the introduction of the Mandatory Provident Fund (MPF) next year.

Life insurance managing director Gary Bennett said the company was aiming to expand the number of agents from 500 to 850 by the end of this year.

In January this year, the firm introduced a salary-based plan for new agents, going against the industry trend of paying agents on a commission only basis.

'Our firm has broken this tradition and now offers a monthly salary $8,000 to $10,000 for new agents,' he said.

'After the first year when the agent has been trained and has experience in the industry, they revert to commission,' he said.

The other recruitment plan is to hire part-time agents by asking those with a full time job - such as teachers or nurses - to take a second job with the firm.