Hi, Mr. Tan,
I would like to share my experience with you.
I met five different agents. I am not able to identify the difference in their advice. Three agents strongly promotes Investment Linked Insurance by illustrating to me the working of dollar cost averaging. I already knew it, after being eduated by your blog.
I asked them about term insurance, but they did not want to talk about it. Instead, they try to get me to buy traditional life insurance, saying that term has strong disadvantage since it doesn't cover crisis after the age of 65.
Two other agents told me that term covering $150,000 is not enough. They recommended $350,000. They showed some calculation to me, but I don't really understand. They recommended a combination of term and other insurance that take away $139 a month.
I do believe that all insurance agent does have the professionalism to advise to their client. And it is true since the advice they gave are all so similar, "BUY as many as you can". After talking to the agents, I find that noobody would like to make a deal with low commission.
I do believe there are some insurance agents in this world would really take care of us by considering our real situation and be responsible for us and our money. But I don't think I will be the lucky one to meet them, so I decide to give up.
Some years later, after saving enough money, I will probably take a master degree on finance or related field. If we cannot trust anyone, the only thing we can do is to equip ourselves with financial knowledge so that we won't be easily fooled.
I do sincerely wish that Mr. Tan and your family happy for ever since you are the only one in the insurance industry I know would like to taking care of the general public in Singpore by educating them. Thanks again for educating all singaporean and foreigners by writing your blog.
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