Tuesday, November 22, 2016

A life insurance policy is not a saving account

A common mistake made by consumers is to invest in a life insurance policy as a saving plan, thinking that it operates like a saving account.

The agent usually sells a life insurance policy to the consumer by pitching it as a saving plan that gives a better return compared to the low rate of interest that can be earned on a saving account or on a fixed deposit.

The agent tell the consumer that they can get their money back at any time after two years. The consumer thinks that he or she will get back all of the money back, like a saving account. That is not true.

Find out more at www.fisca.sg

3 comments:

Kyith said...

Mr Tan, I notice that you tend to share your short opinions in these blog posts. May I suggest something.

I believe your opinions do not sway that much. Why not come up with a more comprehensive longer blog post on your advise and what you believe in.

A longer very value added article tend to get shared better, and your message gets out better.

If not you will be putting a lot of effort yet not have the desired results that you are looking for.

Kyith
investmentmoats

Anonymous said...

Mr. Tan, these insurance agents are cheats. They make a living at the expense of their clients, no different from drug peddlers. Consumers are reminded that insurance agents ARE NOT ALLOWED to compare the return of their product to bank saving account or FDs, it is ILLEGAL to do so. Any agents doing this should be reported to MAS.

Kin Lian Tan said...

Dear Keith,

My longer post are set out in www.fisca.sg and in www.tankinlian.com

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