The regular premium investment linked product is an essentially a combination of 1 year renewable term PLUS investment. Since the life insurer does not provide value add service by managing the risk of the underlying investment, there is no reason to buy such a product. It will be more straightforward just to buy a separate term insurance and invest the difference (which is what an ILP does). Here … [Read more...]
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How does one go about buying insurance?
It is important for the individual to understand his or her needs first. After that, source for the most appropriate solutions. Most people do it the reverse – looking at the solution (product) first and try to fit their needs. This way of doing almost guarantees inappropriate purchases. Although the only way to buy insurance is from insurance companies, empirical evidence has shown that the … [Read more...]