Dear Mr. Tan,
An insurance agent advises me to buy life insurance for my child, so that she can enjoy a lower premium. The premium will increase when she takes up insurance at an older age. Is this correct?
REPLY
It is better for you to invest the additional savings in a low cost equity fund, as it can provide a much higher return than a life insurance policy.
When your child starts to work, she can buy decreasing term insurance, which is very low in cost. It is probably cheaper than the premium that you have to pay for her now.
Read these FAQ:
http://www.tankinlian.com/faq/child.html
http://www.tankinlian.com/faq/choice.html
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