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Old 05-12-2018, 07:28 PM   #13
Senior Member
Join Date: Apr 2017
Posts: 540
My comments are not directed at your choices, only at the logic (or lack thereof) in your argument -- the principles of getting value-for-money in insurance.

Right, 20 years ago Singapore's financial and insurance markets were less evolved, and maybe an expensive hybrid of savings and insuring was the best you could do. DII wasn't available (or at least you didn't know about it), and well diversified and low cost index fund investing wasn't easily available from Singapore either. So you did the best you could in the circumstances, 20 years ago. OK!

And this is where you lose me (and others).

Practically everybody who has looked at this, who isn't trying to sell you an insurance product, sees that insurance carriers' investment products (and sometimes their insurance products) are just not good value for money. You can get more bang for your savings buck if you turn to the low cost savings/investment outlets.

Nobody is saying you shouldn't have future wealth and income. You should! It's just how you do it, and how to maximize your results, that's all. There are loads of people saddled with lousy whole life policies in terms of value for money; it's the perfectly normal, typical landscape.

Now, there are a couple exceptions. One important exception is if somebody just cannot save unless "forced" to save in the form of premium bills from their insurance carrier. If the choice is between not saving (because you just don't have the discipline) and paying a whole life premium for many years, then I think I would choose the second option!
What is value? Value is in the eyes of the beholder!

I dun believe in insurance, but still bought something which I can get back my monies and not "cheated" by the insurer if nothing happens, now is called a savings plan, not like that in the past.

I have my own strong choice and plans, and my road to success = my focus have always been building a career to grow my income/savings/wealth. It works, my choice, plan/way to retirement. Luckily, my whole life policies are working well as well! Now I dun need all those insurance I bought, but since it is paying well, I just continue to grow my wealth!

Now is different, health insurance is the most important.

Last edited by maple96; 05-12-2018 at 07:31 PM..
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