Hi Mr. Tan,
I received a call from my agent. She is offering this limited promotion personal accident policy to selected clients. Currently, I have a Prime Life policy with them. She is offering me a personal accident policy: $36/mth for $200k, $29/mth for $100k.
With additional benefits like cash rebate per year around 1 month of the premium. I am currently schooling and will only be entering the workforce 3 years down the road.What do you think?
REPLY
The plan offered by the agent will cost about $319 (after rebate) for $100,000 cover. It is too expensive. A similar personal accident policy, available from NTUC Income and a few other insurers, will cost you only $72 a year (applicable to a student).
Read this FAQ:
http://www.tankinlian.com/faq/pa.html
Lesson: Avoid buying a product straight away from a commissioned agent. Always compare with similar products in the market before you buy.
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