Tuesday, June 23, 2015

No need to buy life insurance for a child

Hi Mr Tan
CompareFirst does not work for baby or kids. Are you aware about this?
Buy Medishield Life for your baby and kid. Do not buy any other type of insurance. It is not necessary. They are not earning any income for a long time. There is no need to protect against loss of income which is non-existent.
If you wish to save for your child's future financial needs, make the saving in your own account. Invest in an indexed fund for the long term.
Attend this talk on 25 July.


Anonymous said...

The COMPAREFIRST is meant for adults who are bread winners to address their under insurance cheaply because you can't depend on your agents to help you to be insured adequateky and because they only want to sell you expensive high commission insurance. This is also the reason why Singaporeans are under insured because the insurance agents put their interest first, ie. selling only high commission products that they can make good money.
Mr. Tan is right that children don't need life insurance but only medical insurance like medishield from CPF or integrated shield plans from private insurers. Don't put the cart infront of the horse.You and your spouse the bread winners should be adequately insured first before your children .
What good is the insurance for children if the bread winner should pass on prematurely and left not enough money to their dependants or what benefits the parents if the child should pass away? Surely you don't want to benefit from the death of your child.You don't the proceed money, right?
I don't blame you for thinking of your children. They are very precious to you but don't let the insurance agents exploit your emotion. Insurance agents are unscrupulous, they would try to sell as
much insurance to you, perhaps insurance to your pet dog and cat too.
The bread winners are the goose that lays the golden eggs and without them all other things are useless. Don't let the insurance agents con you into this.

Anonymous said...

Ha ha, the insurance agents always like to say there are only SOME black sheep in the industry when told insurance agents have bad reputation and known by any negative labels.. To refute the agents, in fact the truth is 95% of the insurance agents don't measure up to what is expected of them. They are unqualified; they are product pushers, they care for themselves; they only push high commission products. In short they DON"T put their clients' interest first. This is dishonesty when they don't do what they should be doing and this results in many customers got very bad deal with products that don't meet their needs and products they can't afford in the long run. So it is just some black sheep? No!!!!95% of them are black sheep.

Anonymous said...

Insurance agents are legalised conmen and they are every where every day. Why MAS is not doing something to get them off the streets. They are the bane of passers by and shoppers.
Get them off, they are not professionals but beggar salesmen and women harassing the public with snakeoil dubious insurance products.
They are an irritating sight.

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