Choosing a good life insurance policy is the same as choosing a good consumer product. Shop around. Compare prices, Take your time. Do not make a hasty decision. Be clear about what you want and make sure you pay the right price. Do not take the trust the statements of the sales person blindly (as they want to close the sale and earn the commission).
http://tankinlian.com/admin/file.aspx?id=701&IID=705
http://tankinlian.com/admin/file.aspx?id=701&IID=705
1 comment:
There is NO good insurance plans in Singapore right now, whether it is whole life or an endowment, NONE.
What is a good insurance plan?
Foremost it must be able to give a large coverage for a small premium.
Second, if it is par product it must break even before the 10th year and be able to give a reasonable return of 4% by the 15th year.
4% just gives a zero real return and anything below is negative.
Currently NO single premium endowment can match it let alone the regular premium products.
Buy term and invest the rest(BTITR) is the answer to the above problem. With BTITR you can have large coverage and much superior return on investment and many other advantages.You take charge and not let the insurers manipulate and at their mercy.
Of course, the biggest risk to your financial freedom is choosing an adviser.You are condemned from the start and if you are comatose your adviser turned out to be an insurance salesman you are finished.You have a engaged blood sucker slow sucking and draining your hard earned money. You end up cupboard full of wholelife and endwoment products and yet never cover you enough and provide you enough fund when you return. While you are reeling from brokenness your 'adviser' or financial consultant is basking in the overseas resort drinking wine and dine in a michelin restuarant, of course from the commission pilfered from you.
The insurers always tell you to insure when you are young and healthy they forget to mention about your needs when you are young. Take their words with a pinch of salt or don't swallow without chewing. They don't have your interest at heart , only your money. So take care. They are not made different and life isn't going to be great if you are not careful about the hands that you put money in. Suspect all of them.
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