Sunday, December 19, 2010

Read my book on financial planning

Dear Mr. Tan,
I do not have any life insurance and I would like to buy a whole life insurance. Now I am considering 2 life policies, i.e. NTUC VivoLife and GE FlexiLife 20.

As I have read your comments in your blog, VivoLife is not a good choice due to its low yield. However, I wish to get your advise on GE FlexiLife 20, if it is a better choice for me who do not own any policy.

I am 34 years old and looking for sum assured of $100,000 and a payable term of 20 years. Greatly appreciated for your advise.

REPLY
Did you buy my book on financial planning? There is an explanation on how to evaluate a life insurance policy. You can buy it at www.tankinlian.com/ishop
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2 comments:

zhummmeng said...

You shouldn't buy either one.Why waste money on these rotten products?
Why do you need insurance? You should begin with this question and then buy a term to cover this purpose.
Neither of these products is good in term of coverage and return.Is $100K enough? or Is it too much? Find out the amount you need. Don't just pluck a figure from the air. You are not a financial planner. Your budget is NOT an indication of how much you need.There are many things to consider. Please go look for a qualified planner and get a financial check up. You are jumping the gun. You don't even know what you NEED. If you know what you need why pay the agents commission? They don't do anything for you, advise, fact find you, analyse your needs why pay them? You should ask for a year's premium to be rebated to you because you did EVERYTHING from knowing your own needs to analysing your needs, right? The agent just executes the order, fill up the forms for you, does he or she deserve the 150% of the premium you pay for doing just that?. The agent only prints a quotation, reads to you and fills up the forms and helps submit your application does he or she deserve to be paid 150% of the premium? Don't be an idiot. You are abetting them in the commission of a criminal practice the whole is fighting against.
Please buy Mr. Tan' s book to read before buying.

December 20, 2010 12:31 AM
Spur said...

Nowadays when people ask me these type of questions, I just tell them to go ahead & buy. Not sure just diversify and buy $50K wholelife from 1 company and another $50K from a 2nd company.

If they cannot be helped at least they can help to contribute to corporate profits and help to prop up stock prices.

December 20, 2010 1:06 PM

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