Some life insurance companies design complicated products that are difficult for the consumer to analyse.
It is easy for the agent to get the consumer to buy the product, as the agent can make a misleading presentation of the product. In some cases, the product is designed to take advantage of the ignorant customer.
After buying the product, the consumer is stuck with it for 20 years or longer, as they have already incurred a large upfront cost.
I hope that the regulator will look after the interest of the consumers and disallow these types of poor value products from being marketed to the general public.
My advice to consumers: Avoid all these types of complicated products, as they are likely to give you a poor return. Do not trust any company that market these types of products.
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