READ THIS BEFORE INVESTING WITH INSURANCE PLANS!
I am not sure if it’s coincidental or not, but recently I have been receiving quite a few requests from my readers and friends for evaluation of their insurance plans. Some of them were directed from the story of my ILP which was posted on HWZ, while others chanced upon my blog. Perhaps it was because of the spreadsheets that I have uploaded.
I have reviewed the spreadsheets but there isn’t one that can help to calculated exactly how much your returns would be with insurance plans. To my surprise, there are many people who don’t know how the actual calculations are being done with their plans – they only know what is the projected amount that they would get at the end of it. Continue reading “Comprehensive Breakdown to Insurance Plans – FREE spreadsheet!”
Okay, this is it.
It’s finally time for me to tell you the story of my Investment Linked Policy. After much procrastination (ever since I started this blog, in fact), I’m ready to face my mistakes and tell you guys about it.
I’ll show you the numbers, alright. I’ll tell you why it was a mistake and why I wouldn’t get one anymore.
But I’ll also tell you the benefits of having one. It’s not all 100% bad, although I’ve surpassed the stage where having an ILP benefits me. But it may benefit you, and you can decide if it’s suitable for you or not.
But nah, no more ILPs for me.
Here’s why. Continue reading “The story of my Investment Linked Policy (ILP)”
Continuing from my previous blog entry about the Buy Term, Invest the Rest (Access Part 1 and Part 2 here) approach, I realized that many people, my friends included, do not know too much about insurance and what happens to their money. “I don’t know” is a very normal response I receive whenever I ask my friends how much their coverage they have for insurance. Many of them trust that their money is held in safe hands by their insurance agent, and to be frank, I was one of them until I decided to get insurance for myself and did some research. The numbers that the agents provide them are sufficient enough for them to accept the returns so long as they look more promising than the initial capital the long term.
Continue reading “3 Questions you should ask your agent before buying insurance”
Click here for Buy Term, Invest the Rest? (BTIR) – The Ultimate Insurance Guide for Beginners (Part 1)!
In yesterday’s blog post, I mentioned about the amount of returns that I needed to generate if I were to adopt the Buy Term, Invest the Rest strategy. The annual yield of 1.37% was unbelievably true. Needless to say, I took comfort in my own numbers and decided to purchase a term plan.
Now, I was faced with a few new problems. Hais. Continue reading “Buy Term, Invest the Rest? (BTIR) – The Ultimate Insurance Guide for Beginners (Part 2)”
Click here to access Buy Term, Invest the Rest? (BTIR) – The Ultimate Insurance Guide for Beginners (Part 2)!
Earlier this year, I met up with my financial consultant (a.k.a insurance agent) on the various insurance coverage that I needed. The only protection that I had was a H&S plan. She recommended that everyone should at least have a whole life plan which will allow you to take back part of your paid premiums.
Before committing to anything, I continued to do more reading regarding the importance of insurance and the types of insurance that were available on the market. There are a few websites that compare the different insurance plans and their prices so that consumers can make an informed choice based on their needs. It is needless to say that through my research, I have also learnt about the concept of “Buy Term, Invest the Rest” and how everyone seems to be raving about it. My real concern was if this was a feasible approach and was it really that easy to implement.
Let me do a quick summary about my findings.
Continue reading “Buy Term, Invest the Rest? (BTIR) – The Ultimate Insurance Guide for Beginners (Part 1)”