Most term life insurance coverage is only until around 75 years old. I think due to the advancement of medical technology, people are living to a longer period. If that happens to me, I will not be covered from then on. What are your thoughts on this?
REPLY
I recommend that you buy a 25 year term insurance policy and invest your savings in an indexed fund or ETF. At the end of 25 years, your accumulated savings, together with the investment return, should be adequate for your future needs. You will not need any more life insurance after that.
Read this book to get an explanation.
http://c-pearl.com/cart.aspx?ID=19
REPLY
I recommend that you buy a 25 year term insurance policy and invest your savings in an indexed fund or ETF. At the end of 25 years, your accumulated savings, together with the investment return, should be adequate for your future needs. You will not need any more life insurance after that.
Read this book to get an explanation.
http://c-pearl.com/cart.aspx?ID=19
Go buy direct (DPI) from insurance companies without paying the commission. Before buying visit www.compareFirst.sg to select the product which suits you most.
ReplyDeleteOr visit diyinsurance.com.sg to get a rebate of 30%.
Also visit fundsuperamrt, you might get 50% rebate.
If your agent wants the business ask for bigger rebate than the above two. If not forget them.
Yes, buy term and invest the rest (btitr)is the way to go. Don't be conned into buying whole life or endowment and also regular ILPs from a few insurers and all those crappy cashbacks.
ReplyDeleteBtitr strategy is the ONLY way to reach your goals; the traditional products cannot, they only make your insurance agents rich.
You should look into all the products you bought before and have them reviewed by an expert like Mr. Tan. If found rotten and they are not what you wanted, report your agents to MAS or sue them.