Monday, January 14, 2013

Insurance package for $600

I have recommended that a person set aside 1% of salary to cover premature death, critical illness, accident and medical insurance.

Here are recommendations by Terence.
http://www.easyapps.sg/assn/Org/File.aspx?ID=285&Frame=1

And by David
http://www.easyapps.sg/assn/Org/File.aspx?ID=286&Frame=1


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3 comments:

  1. yujuanJanuary 14, 2013 12:04 PM

    Interesting to note that David Soh's email address and H/P number are provided.
    Guess, as a financial consultant, it's expected those who contact him for advice need to pay him.
    Guess also, people won't mind to pay for advice from a consultant with ethics, and such consultants are an endangered specie.

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  2. MikoJanuary 14, 2013 3:07 PM

    Hi Mr.Tan

    Let said I m at 42, I should buy a 20 years term policy or 30 years one?
    If I go for 20 years one, the policy is valid until I will be 62. I m worrying if any insurance company is willing to sell or renew a term policy to a person at 62? I know the premium for 30 years one is more expensive one normally, pls advise.

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  3. Tan Kin LianJanuary 15, 2013 10:14 AM

    Miko, you have to attend my talk on Financial Planning to understand how to manage your finances.
    When you are 62 and retired, there is no need to have life insurance. You should have sufficient savings at that time. Your children would also have started work.
    If you do not have sufficient savings, it is a separate matter and you will need proper financial planning advice. Insurance at 62 is not the solution for insufficient savings.

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