Whole life insurance

[Kaypohji]

Why I see compare first

The direct whole life premium not any lesser than u buy a whole life insurance from agents...

I thought there’s no commission involved if we purchase a direct one

And the direct ones no 20 years premium term.... pay until 70 years old etc

 

[Kaypohji]

Anybody bought direct whole life insurance?

 

[boredboiboi]

Anybody bought direct whole life insurance?

Nope. Same price why direct

 

[Kaypohji]

Why same price ? Just don’t make sense

Meaning insurance companies makan more when they do away with agents ?

Nope. Same price why direct

 

[boredboiboi]

Why same price ? Just don’t make sense

Meaning insurance companies makan more when they do away with agents ?

No idea. Maybe you wan call the hotline and ask?

 

[BBCWatcher]

It's not quite true that whole life insurance purchased online is the same price as whole life insurance purchased offline. MoneyOwl sells whole life insurance online and rebates 50% of the sales commission back to the consumer. Conceivably you could get some kickback from an agent, but that's a big one and at least atypical.

You probably shouldn't buy whole life insurance, though.

 

[Kaypohji]

Thinking to get coverage for TPD and death and CI. Whole life insurance covers all and still has surrender value

It's not quite true that whole life insurance purchased online is the same price as whole life insurance purchased offline. MoneyOwl sells whole life insurance online and rebates 50% of the sales commission back to the consumer. Conceivably you could get some kickback from an agent, but that's a big one and at least atypical.

You probably shouldn't buy whole life insurance, though.

 

[boredboiboi]

Thinking to get coverage for TPD and death and CI. Whole life insurance covers all and still has surrender value

Term plan also have tpd/death and ci. It might be much cheaper depending on ur age.

 

[Kaypohji]

Since u r insurance agent, when will you promote whole life over term life?

Term plan also have tpd/death and ci. It might be much cheaper depending on ur age.

 

[BBCWatcher]

Thinking to get coverage for TPD and death and CI. Whole life insurance covers all and still has surrender value

Term plan also have tpd/death and ci. It might be much cheaper depending on ur age.

Yes, and you know what else has "surrender value"? Savings and investments!

Kaypohji, who do you think pays for the surrender value (after clearing the expense hurdles of agent commissions and insurance company overheads)? You do! Nobody else does. If that (a higher premium bill marked with an insurance company's logo) is the only way you're going to save, invest, and accumulate wealth, OK, maybe that's the best you can do. But it's an expensive way to save, invest, and accumulate wealth, and a giant chunk of the expense is loaded up front -- equivalent to a hefty sales charge. You then spend many years digging yourself out of that hefty sales charge hole to build up surrender value. Straight up saving and prudent investing isn't like that at all.

 

[boredboiboi]

Since u r insurance agent, when will you promote whole life over term life?

When the premium of term and wholelife is not very much different. I have quite a number of them from here in the end gotten wholelife plan over term plan in the end as well.