Today all these whole life, endowment products border on scam and they are meant for insurance agents to make a living OFF you and to leave you under insured because you can't afford more. Why is FAIR necessary? because insurance agents are not interested to put your interest first because they are only interested in their own pockets and insurers love these agents because they bring cheap money for the insurers. FAIR's objective is to address this problem and to get rid of these agents.
You are better off buying term insurance and invest the difference.
Go to www.comparefirst.sg to check out before buying directly from the insurers . You get good deal because you don't pay commission to anyone.
Example: to insure yourself for $400K for death, TPD and critical illness until age 65 the annual premium is only $1018. This is from AXA insurance.
Buy this plan and for this amount of coverage you DON"T need another one for a very long time. It serves you till when you are married with kids.If CI or TPD strikes you first you can claim $400K and if death follows your dependants can claim another $400K and all for a premium of $1018. If you have a coverage like this, compared to $180K, I am sure you will have peace of mind and not pieces of mind which insurance agents deliberately , knowingly plan it for THEMSELVES and NOT YOU because they can have excuses to "REVIEW" your insurance needs in the future. They know the $180K is NOT enough and they create this future business opportunity for themselves to "review". To them 'review' means to sell you another policy. And with $400K coverage it will be a long time before you need a review, ie. you are adequately covered for your dependants' need if you should pass away prematurely and for your medical needs in the event of a CI. So visit www.comparefirst.sg to evaluate before making any decision.
I will post and show you why buy term invest the rest is a superior strategy than buying all those crap whole life and endowment products.I will show you great coverage at low premium and great return.. Remember , COST is the greatest enemy of return and wealth besides INFLATION.
You are better off buying term insurance and invest the difference.
Go to www.comparefirst.sg to check out before buying directly from the insurers . You get good deal because you don't pay commission to anyone.
Example: to insure yourself for $400K for death, TPD and critical illness until age 65 the annual premium is only $1018. This is from AXA insurance.
Buy this plan and for this amount of coverage you DON"T need another one for a very long time. It serves you till when you are married with kids.If CI or TPD strikes you first you can claim $400K and if death follows your dependants can claim another $400K and all for a premium of $1018. If you have a coverage like this, compared to $180K, I am sure you will have peace of mind and not pieces of mind which insurance agents deliberately , knowingly plan it for THEMSELVES and NOT YOU because they can have excuses to "REVIEW" your insurance needs in the future. They know the $180K is NOT enough and they create this future business opportunity for themselves to "review". To them 'review' means to sell you another policy. And with $400K coverage it will be a long time before you need a review, ie. you are adequately covered for your dependants' need if you should pass away prematurely and for your medical needs in the event of a CI. So visit www.comparefirst.sg to evaluate before making any decision.
I will post and show you why buy term invest the rest is a superior strategy than buying all those crap whole life and endowment products.I will show you great coverage at low premium and great return.. Remember , COST is the greatest enemy of return and wealth besides INFLATION.
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