Dear Mr. Tan
I need some advice. Can you tell me the difference between a critical illness policy, a life policy and an investment-linked policy? Which do you recommend? I am in my mid 20s and just started work.
REPLY
Please refer to the FAQs in my website, www.tankinlian.com. Click on Ask Mr. Tan to see a list of FAQs. Select those that are relevant to you. You can view the FAQ by clicking on "View". You can download the PDF document into your computer for offline reading or to be printed out. You can also search the FAQs using a keyword such as "life insurance", "critical illness" or "young". I will be writing a separate FAQ to explain the investment-linked policy.
Before you buy any life insurance policy, be sure to read the FAQ on "benefit illustration". It tells you about the important points to look for in a policy. Also, look at the FAQ on "marketed financial product".
Buy on my book Practical Guide on Financial Planning (on promotion for $10 up to 31 July) or join FISCA.
Of the 3 , ie. if you die die want it, then the investment linked is best, comparatively. But I won't recommend any of them if I were your adviser. But if I were your salesman I would recommend all 3 because I will make more money at your expense and you won't find out until many years from now.
ReplyDeleteI say this because obviously you were brainwashed already that insurance is just these 3 products.I believe you got them from insurance agents or the product peddling FAs.
It is hard to believe that despite so much has been said about the rottenness of these products you still have people asking for or about them.It is really uphill task for Mr. Tan. The only solution is legislation .
how many people can mr. tan saved?
ReplyDelete