Dear Mr. Tan,
I just talk to 4 different insurance companies asking for their term insurance. One company try to sell me life insurance when I asked for term and I have to pay 4.5K per year. Even for term insurance, the price quoted is not that cheap comparable to life insurance.
Is it true that Critical illness only can be bought with a Life Insurance with Death Coverage and not as a stand alone policy? This is what an agent told me. Xan I really get a term policy valued at 500K at around 1K plus per annum as reported in the papers?
You can buy a stand alone term and a stand alone critical illness cover under the SAF group insurance policy, if you are a reservists. Read this FAQ: http://tankinlian.com/admin/file.aspx?id=116
A term insurance for $500,000 cost about $768 a year. You can buy critical illness separately. But you do not need to insure a large sum. An insurance of $50,000 or $100,000 for critical illness is sufficient, as it is supplemented by term insurance.
Read my book, Practical Guide on Financial Planning and attend the educational talk conducted by FISCA. They are meant to educate consumers to make a better choice.
Read the FAQs in www.tankinlian.com/ask.aspx to find out why many agents are not giving the proper advice to consumers, due to their conflict of interest.
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