New Life Insurance Company

Hi Mr. Tan,

I'm sure I'm not the first to tell you this. You give great advices on insurance buying and investments.I truly enjoy reading your blog and FAQs.

I'd like to have some suggestions for life insurance I'm planning to purchase. I'm 23 years old this year and just started working full-time with little or no savings.

I am thinking of getting the SAF Group Term policy with a Sum Assured of $200k with monthly premium of $25.60. Or shall I just get a decreasing term insurance and invest the rest like you always mention?

I can't seem to find good Decreasing Term insurance. Could you give me some advices on which particular insurance and ETF fund?

REPLY

If you wait a few months, there will be a new life insurance company that will offer Decreasing Term and low cost investment funds.

Meanwhile, you can keep your savings in the bank account. Although it earns 1%, at least the saving is intact and is not used to pay hefty commission to the insurance agent.

You can buy the SAF Group Insurance. It offers a high protection at a very low cost. You will probably find the premium to be even lower than the benchmark rates shown here:
http://www.tankinlian.com/faq/benchmark.html