Monday, July 27, 2015

Term insurance for 25 years

Dear Mr. Tan
In your talk on financial planning, you recommended consumer to buy term insurance for a term of 25 years or shorter. Why a term of 25 years or shorter? Should we cover ourselves till retirement age of 65 for term insurance? Thanks.

After 25 years, your children have grown up and you have sufficient savings at that time. But if you wish to be insured until age 65, it is okay as the difference in premium is quite small.

Read this book.

1 comment:

Anonymous said...

Buy your your insurance from these places. which offers life insurance without commission to get 30% discount or rebate on all life insurance products to get 50% discount or rebate on all life insurance products
There are other sites offering good discount..maybe Dollarex too
Like any other businesses this is fair competition, right?
Don't worry, these sites are legal and are approved by Competition Commission of Singapore(CCS)
If you hear of any insurance agents or insurers complaining about them you can lodge a complaint with CCS. Tell them not to complain but to match the discount these sites offer.
This is fair is fair disclosure .

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