From my point of view:
I want a no frills plan that is priced reasonably, which ideally covers all the important aspects of healthcare, eg compensation in the event of hospitalization (have not done my research yet). Do not want any “extra protection”, you know, the kind the agent sells so as to earn a better commission yet he knows they are not really useful.
From the agents’ point of view:
Its their way of making a living. Of course they will be trying to sell all sorts of coverage. Even the non essential ones. Does it mean it is alright for them to lie, over exaggerate, and promise to look after your account for all time even if they intend to “jump ships” when the opportunity rises?
Am looking for a trust worthy insurance agent. Do leave a comment if you know one. Thanks!
if only we could fly.. 
5 comments
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March 23, 2010 at 6:36 pm
Me
all u need to do is do some research and what out what you need.
agents, whether a not they are your best friends or relatives, are the wrong people to get information from.
March 23, 2010 at 6:38 pm
Me
all u need to do is do some research and *find what out what you need.
agents, whether a not they are your best friends or relatives, are the wrong people to get information from.
March 23, 2010 at 9:24 pm
gl
who is Me? just kidding.
ya need to do research. but the agent ideally should be someone trust worthy, as well as committed to their job as an agent. Don’t want them to pass on my portfolio to some other agents, and who might pass it on and on and on..
March 25, 2010 at 7:43 am
Lightfellow
From what I understand, there are 3 main kinds of insurance products:
1. Endowment: Your old school savings plan. Health/ death coverage is minimal, however, the premium you pay each month is ‘saved’ and will mature during a certain age. But interest rates are usually low, so don’t bet on earning much.
2. Life: Your old school health insurance. Premium is usually lower, and the coverage is greater. But you don’t save the premium you pay. It’s like a no-return (unless something bad happens) expense u incur every month.
3. Investment: The fanciful plans which differs from each products.
At least thats what my great eastern agent explains to me.
For health coverage, make sure u have 3 things:
1. Illness: Most plans have a number of critical illness in their policy.
2. Death
3. Hospitalisation: Once you start earning your CPF, the government will automatically help u purchase an income shield plan using ur medisave. Coverage is basic, so if you prefer something better, can always buy one yourself.
Of course, the greater payout, the higher premium you have to pay.
March 25, 2010 at 10:56 pm
gl
thanks for the heads up! informative