Life insurance
I met a friend of mine yesterday to get a life insurance as well as a basic savings plan from him. Well, basically, I'm not the kind of person who's very particular about financial stuff, so I normally leave it to my friend to determine what kind of plan I should be getting. That aside, is there anyone who has any recommendations on which particular company is good? Should a person only get insurance from reputatable companies such as AIA, Great Eastern or Prudential?
Actually, life insurance should be termed as life insurance and assurance for best effect. If one is insured but not assured of getting the money if anything bad happens, then what's the point of getting life insurance? And if that is so, what is the criteria for determining if an insurance company can provide that assurance?
It has been a tiring week... with mostly 7am to 10pm days.
Friday is always a day worth looking forward to =]
Actually, life insurance should be termed as life insurance and assurance for best effect. If one is insured but not assured of getting the money if anything bad happens, then what's the point of getting life insurance? And if that is so, what is the criteria for determining if an insurance company can provide that assurance?
It has been a tiring week... with mostly 7am to 10pm days.
Friday is always a day worth looking forward to =]
posted by notsniw at 7:11 PM
3 Comments:
It really depends on what you want and what you need, but don't get NTUC Income.
All the 3 you mentioned are pretty good, of course the key thing is to find out what you really need. And for that, you either get a financial advisor to take care of things for you... or you do everything yourself by learning exactly what each and every policy does.
I assume that you're just looking at insurance policies though. Financial planning is essential, so if your friend can give you good advice, find out all the necessary stuff from him.
Term insurance.
Term insurance.
Term insurance.
Because you live in a fast changing world.
Insurance is insurance. The most importing thing in insurance is to get the money when you need it. Ask around for policy gossip and pay attention to HOW the gossip is uttered.
Don't mix insurance with "savings" or investments.
Learn how to invest on your own. Read. Talk. Eavesdrop. It's no fun and it takes a bit of time but it sure beats relying on some analysts in some insurance company relying info to your friend. An intelligent person like oneself can easily get enough skills to beat the index. Or at the very least, inflation.
And remember, nothing remains constant. The skills you learn might just prove invaluable one day.
How would you know you'll definitely get the money when you need it? :/
My only worry is getting the money at the end of 20 or 25 years... who's going to give me that assurance that I will definitely get my money back? Hmm
Post a Comment
<< Home