How do people shop for life insurance?

The following is my answer to a Quora question: “How do people shop for life insurance?” Depending on where you are, there should be web sites that allow you to compare between different policies of similar type and coverage. For policy portfolio, you need to shop around for a good financial services consultant, instead ofContinue reading “How do people shop for life insurance?”

What are the top 3 life insurance policies you can recommend?

The following is my answer to a Quora question: “What are the top three life insurance policies you can recommend?” I am speaking strictly from a Singapore perspective, although I believe the general principle may be applied elsewhere. There are three types of insurance plans that form the foundation of our liability mitigation. Firstly, itContinue reading “What are the top 3 life insurance policies you can recommend?”

What arguments exist for whole life insurance over term life insurance?

The following is my answer to a Quora question: “What arguments exist for whole life insurance over term life insurance?” Both whole life and term have their uses. Generally, I recommend whole life when the client is younger. If they can afford it, I recommend a limited pay whole life, so they pay for theContinue reading “What arguments exist for whole life insurance over term life insurance?”

Why do I feel like I am gambling with my life when I buy insurance?

The following is my answer to a Quora question: “Why do I feel like I am gambling with my life when I buy insurance?” On the contrary, I contend that you are gambling if you do not buy life insurance. Without liability protection, do you have sufficient funds set aside in the event of disabilityContinue reading “Why do I feel like I am gambling with my life when I buy insurance?”

Is Whole life insurance or Term life insurance better, for a 25 year-old?

The following is my answer to a Quora question: “Which do you think is better, whole life insurance or term life insurance, for a person under 25-years-old?” If you are that young, it would be better for you to buy a whole life policy. The reason is because a whole life policy has level premium,Continue reading “Is Whole life insurance or Term life insurance better, for a 25 year-old?”

Do wealthy people buy life insurance?

The following is my answer to a Quora question: “Do wealthy people buy life insurance?” Wealthy people buy the most life insurance. It is an irony of sorts that the people who really need life insurance underinvest in it, whereas the people who might have a lesser need overinvest. People of a higher socioeconomic strataContinue reading “Do wealthy people buy life insurance?”

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