Many consumers have asked for my views on the life insurance policies that they have bought previously or are being recommended to them now. These are mostly whole life or investment-linked policies that are intended to provide insurance protection and as a form of savings for the future.
I wish to present the results of my analysis in this book. They represent the policies that are now sold in the market in Singapore. I have removed the name of the consumer and the insurance agent from the benefit illustrations.
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1 comment:
What is meant by 'value'?
For wholelife products it should mean more sum assured coverage per unit of dollar premium and good return , above 3%.
For endowment the return should be above 5%..
If these products don't meet these criteria you can forget them. It is better to buy term insurance from the direct channel (www.compareFirst.sg) and invest in ETFs, eg can invest regularly in ETFS, a plan which is offered by DBS.
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