Friday, November 16, 2012

Buy from bank or insurance agent?

Someone asked me if there is a difference between buying an endowment policy from an agent and from a bank.

There is no difference. The endowment policy is offered at the same price. When the bank sells the endowment policy, the bank keeps the commission. The service provided by the bank is usually not the same as the personal service provided by the agent.

The distribution cost that is suffered by the consumer is usually quite high, so the return on the endowment policy is quite bad, compared to more suitable types of investments.

To find out how to invest your savings to get a better return, you should attend the educational talks organised by FISCA (

Many people claim that they are too busy and cannot find the time. This is highly risky as their financial future is at stake. They are likely to make a bad investment offered by a sales person, and they get stuck for the next 30 years!

No comments:

Blog Archive