What are unsuitable insurance?

Last Updated on 23, March 2014

An insurance product is considered unsuitable if it meets one of the two criterions:

1. The products does not meet one’s needs OR
2. The product meets one’s needs but there is an alternative product that is significantly superior in terms of cost or benefits or both.

The keyword is “significantly superior.” Marginally superior is not counted.

Like this article? Subscribe to my newsletter below for more.

Get regular Tips on Financial Planning. Free subscription for 3 years. Covers all aspect of financial planning such as 'How much salary you should have?', 'How to avoid insurance that is not suitable?", 'What are the retirement planning methods?", etc

Name:

Email: