Friday, April 03, 2009

Buy Term Insurance

Dear Mr. Tan,
May I know which company you'd recommend for buying "Term", "Decreasing Term" and "Living Benefit" policies you described in your FAQ: http://www.tankinlian.com/faq/choice.html

REPLY
You can buy Term insurance from NTUC Income (they call it i-Term). But do not allow them to convince you to buy other life insurance policies.

You can also buy i-Term from Philips Securities. They sell i-Term offered by NTUC Income. You can find out from their website. All the best!
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1 comment:

zhummmeng said...

I must vouch for ntuc that they have the best term insurance but you must know how to design to meet your needs.
Remember I-term covers death and PTD and this is usually used to insure your dependents' needs so that they won't be saddled with your debts and on top of it you will leave a lot of money to see them through life when you are gone. Once it has outlived its usefulness you can throw it into the Kallang river.
DT is similar like level term. It is a lot cheaper because it decreases with time. Useful for mortgage loan and also for dependents' income replacement too.
Living term is for yourself and income for loved ones when you are still alive.Normally you need as much as 5 times or 5 years of your annual salary. If you can't survive the 5 years your i-term will kick in.Depending on your circumstances you can stagger your term instead of locking over the whole period till 80 years old.
Don't let the agent fool you.
Warning !!!!!
when you see ntuc agent remember not to fall for sweet nothing talk.
No whole life or limited payment living policy and the crap anticipated endowment revosave..Ask for a qualified agent with CFP and NOT those with crap financial consultant title especailly those with a senior or executive before them.These titles tell you how much crap WL products they have sold and NOT term products definitely. Going to NTUC is like entering an enemy's territory with lots of land mines.Tread properly and your mind focused on your needs and your needs require term products .
Not sure, come back to this blog and post your questions. Don't trust them. There are about 1% qualified and honest advisers in there and the rest are.....boey sigh kke kng.in Hokkien(cannot see light)

April 03, 2009 10:24 PM

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