Return Home ★ You are viewing blog posts categorised under Insurance.

Not so Obvious Reasons to Start Planning Sooner Rather Than Later

There are quite a few obvious and oft-repeated reasons why people should start financial planning now: insurance premiums increase when one decides to get it at an older age; health problems may set in making it more difficult to get insurance coverage; investing early allows one to enjoy the full magnitude of the compounding effect amongst other reasons.

These are actually rather minor concerns to me.

What is the absolute difference in premiums when one is 25 versus when one is 26, 27 or even 28? It is not very much actually. Delaying one’s investing by some time also do not make very significant difference. Of course, horror stories about bad things happening to even young people can be an effective way of getting people to sign on the dotted line, but to me, I think a few other factors are more pertinent.

Read More ↵

Perceived Cost vs Actual Price of Insurance

IM$avvy carried an article from The Business Times – What turns off Gen X and Gen Y on life insurance – which talks about the reasons why few Singaporeans aged between 20 to 40 wish to purchase insurance.

As stated by the article, a survey found out that most people are put off by insurance because of the high price tag they perceive insurance to carry.

Read More ↵

Some FAQs on Insurance

Have been getting some recurring questions as well as repeated search queries reaching this site. I think it will be good if I can answer some of the more frequently asked questions about insurance.

Read More ↵

“Dangers” of a Term Policy

I read another adviser’s article talking about the “dangers” of term insurance, specifically the non-payment of premiums, accidental or otherwise.

The writer tries to drive home the point by including anecdotes of term policy owners forgetting to pay premiums, and even a case of an “improper” GIRO arrangement leading to the term policy lapsing and dramatically just when the person needed it the most.

Read More ↵