Tuesday, July 22, 2008

Low cost insurance and investment funds

I am now working as a consultant to a life insurance company in Singapore. It intends to launch low cost insurance and investment funds in early 2009.

Details of suitable products are set out in these FAQs:

http://www.tankinlian.com/faq/low.html

http://www.tankinlian.com/faq/btid.html

http://www.tankinlian.com/faq/termassurance.html

http://www.tankinlian.com/faq/finplan.html

http://www.tankinlian.com/faq/age65.html

Generally, my advice is:

1. Buy low cost term life and medical insurance to protect your earnings
2. Invest your savings in a low cost fund to get an attractive return
3. Avoid high cost and complicated financial products
4. Educate yourself to make the right choice
5. Buy directly, to avoid paying the high commission insurance agents
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2 comments:

zhummmeng said...

Yes avoid insurance agents. They don't give anything that deserves to be paid. They always say about making the claims , helping you with this and that but nothing about improving your financial life, in fact the reverse by pushing expensive and high commission products to you.
I am not against commission provided you deserve it and it is reasonable. Most don't . Will you pay someone high commission for filling up forms and hope to make claims for you.You mean the company will not pay you without the agent?
Is that their idea of taking care of you for life?
Did you know that you pay about 150% of your premium to them other than the company's profit and expenses?
The commission is too high and I hope Mr. Tan's idea of low insurance products will set the benchmark for the industry. Remember you consumers play the most critical role in making this happen. You decide the price, the cost and the demand and not he agents and their company.

July 19, 2008 1:44 PM
siewkhim said...

Kin Lian,

What is the name of the company? Do you an assistance?

July 22, 2008 2:27 PM

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