Buy term and invest the difference

COMMENTS POSTED IN MY BLOG:

Take the advice of Mr. Tan by recommending term plans and invest the rest. This is the way to ensure your clients are adequately covered.

Whole life plan deprives your client of adequate protection.This is what is happening in Singapore. Many deceaseds" family are in financial difficulties because their bread winners didn't leave enough. They left their money with insurance agents.Check with the single parent society and they will you the stories.

The insurance agents have a role to play but their interest often comes first. They are greedy, incompetent, dishonest and unethical; this results in many not properly and adequately covered.

That is why AXA, the world's largest insurer, decided to sell ONLY term plans and investment products. That is their belief that it is the only way to address under coverage and also to remove the conflict of interest.

-------------------------

REPLY:

"Buy term and invest the difference" is suitable for the well educated and financially savvy.

For those who are not so familiar with investments, a low cost traditional product may also be suitable. They will benefit from a low cost product, rather than a high cost product.