I have often been asked by consumers, "Mr. Tan, I find it so confusing that insurance agents keep introducing new products to me, explaining the risks that I face. How do I know which is a good product to buy?"
I am too polite to tell them what I honestly think. Here is my frank answer.
1. You will be cheated of 40% of your hard earned savings. If your savings should accumulate to $500,000 by the time you retire, the insurance policy will take away $200,000 from you.
2. If you buy the right insurance, you should give away $50,000 and keep $450,000 for your retirement.
3. You deserve to be cheated, because you are too lazy to attend a talk (www.fisca.sg/events) or too stingy to pay $30 for a talk or to pay $12 to buy a book (www.tankinlian.com/ishop).
4. You only need to spend 1% of your annual income on insurance. The best form of savings and investment are taught in the FISCA talk or in my book. Learn now, how to take care of your own financial future. Spend the time and a few dollars.
5. The life insurance companies will keep introducing new products to catch the naive consumers. Their insurance agents are trained to keep selling new products to you, so they can earn the commission and the insurer can make more profits from the new products and the old products that are being replaced.
I am too polite to tell them what I honestly think. Here is my frank answer.
1. You will be cheated of 40% of your hard earned savings. If your savings should accumulate to $500,000 by the time you retire, the insurance policy will take away $200,000 from you.
2. If you buy the right insurance, you should give away $50,000 and keep $450,000 for your retirement.
3. You deserve to be cheated, because you are too lazy to attend a talk (www.fisca.sg/events) or too stingy to pay $30 for a talk or to pay $12 to buy a book (www.tankinlian.com/ishop).
4. You only need to spend 1% of your annual income on insurance. The best form of savings and investment are taught in the FISCA talk or in my book. Learn now, how to take care of your own financial future. Spend the time and a few dollars.
5. The life insurance companies will keep introducing new products to catch the naive consumers. Their insurance agents are trained to keep selling new products to you, so they can earn the commission and the insurer can make more profits from the new products and the old products that are being replaced.
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