If a salesman sells you a product and charges you a higher price compared to a similar product of the similar quality, you will feel that you have been cheated. You will probably avoid doing any more business with this salesman or his shop.
Does the same situation apply for financial and insurance products? Do you feel cheated, if you are offered a bad product and charged an excessive price? Can you avoid doing business with the salesman or his company?
The problem with a life insurance product is that you will be stuck with a bad product for 20 years or longer.
How to identify a bad product? Ask this question. Is this an investment product? If so, how much do I have to pay for the first 1 and 3 years. What do I get back if I stop the investment plan? If you do not get back your savings, it is a bad product.
Lesson: Avoid financial products that has high charges, lock you up for a long term, and imposes a high penalty on early termination.
- ► 2013 (303)
- ► 2012 (1270)
- ► 2011 (1873)
- ► 2010 (2369)
- ► 2009 (1655)
07/06 - 07/13
- Regulation of financial products
- Blog on public transport in Singaore
- Low yield for policies with restructured bonuses
- False advertising
- Human Organs for Sale
- Regulation of insurance
- Reduction of 4% in yield
- Avoid being cheated
- Win $3 million on the Big Sweep
- How to drive to your destination
- Additional charges under the fund
- Ideal plan (ID2)
- Low Wage in Singapore
- Education Loan
- Buy term and invest in a low cost fund
- Improve the public transport in Singapore
- Minimum wage in other countries
- People will buy insurance
- Asset Share Methodology
- FAQ: Traded Endowment Policies
- Universal Life
- How to reduce petrol and gas price..Egg logic
- Avoid high charges of investment-linked plans
- Avoid policies with high terminal bonus
- Avoid private Shield plan
- Negligence and insurance
- Who's really looking after your money?
- Logic Quiz
- Politician and accountant
- A Gracious Society and Dr. Chee Soon Juan
- ▼ 07/06 - 07/13 (31)
- ► 2007 (1803)
- ► 2006 (696)
- ► 2005 (159)