In the past couple of months, the GE Enhanced Equity Fund is doing very well! Almost 15% returns.

That was about 10 years ago. Shd be the bank cc issue.
Wife received SMS to pay by a date, example 15th of the month.
But keep fail to make payment, before the date call in for assist.
SC just reply policy lapsed need to buy new, not allow reinstate. Too bad my MIL condition not able to get new anymore.

Maybe you need to speak to me.
I have agency staff to remind you even if the app notifications somehow fail to reach you.

MORE IMPORTANTLY:
Go through a financial health check.
The process puts all your numbers in front of you.
You're a shrewd guy, I believe the numbers will then help you decide if you need coverage for Life / Critical Illness coverage and how much (if there is a need at all).

As opposed to always going on a guesstimate, why not move forward with certainty?
Wouldn't that make it easier to go hard when the opportunity arises, knowing that you can?
Just like how your 60-month living expenses reserves invested, doesn't it make you feel good knowing that you have that amount ready and liquid?
Why does it not make you feel secure with it when it should?

Just asking, ...can one set auto billing through the bank account where it will auto deduct from the bank account?

I think credit card can.

Can be done.

I have tried those financial health check on insurance website. Of course their agenda is to tell me everything not enough and need more coverage, that's how they make money isn't it. Honestly even if I put 100k for life, critical illness and personal accident, I still think that 100k is nothing, but the premium is going to be extra 70-80%.

Insurance website check is a simplified version. Unless that's enough to satisfy you. Seek professionals like myself or any agents out there who can do comprehensively for you.

Again, if the insurance website check had done it right, you wouldn't complain about the extra 70% - 80% unless it's giving a wrong advise.

Yes. You can.
Via auto debit from your debit card
Via standing instruction pun boleh. However, with this option, once the amount changes and doesn't match, it will fail to charge. Then you'll have to call your bank, change it, etc.

Credit card mesti boleh, but subject to available limits la.
There are 4 charging attempts each month, so once the credit is available, it will attempt to charge.
After 4 attempts also fail, the client will need to make manual payment before the grace period expires. Usually 30-days from due date.

Ask yourself do you need those coverage? I learnt this from Singaporean financial blogger. If you can generate yourself say SGD100k p.a of free money every year, do you still need insurance which have to obey all their terms and conditions. Yes some of them are at that level. That's why they remove away l life, critical illness insurance and only have medical insurance. Their words it's better to continue received payout every year than one time payment.

Another thing I learned from them: never ask a barber if you need a haircut for obvious reasons.

This post has been edited by Ramjade: May 24 2024, 11:53 AM

Until we conduct a financial health check in person with just about anyone here, noone can tell you for sure la bro.
I actually just met with someone at New Ocean World, PJ yesterday. Guy came in wanting to buy a big Life Insurance policy.
At the end, langsung no need for it. What is the intention for the money? Dunno. Who is it for? No idea also.
My nature is to then question him loh, where or who gave you this idea?
End up it was his mom that is pushing him to buy, because suddenly it is a hot topic within the family after the father's recent passing.
Now he is arranging for me to meet with his mom... T__T

Unless you feel that insurance agents like me is just telling you to hurry up and buy...
and personal insurance is like buying a gameboy then... you do you loh. Nobody say is wrong also kan?
No medals to give also
Can live without gameboy kan? Can, but it's good to have.
Can live without insurance also kan? Can, but it's pretty good to have.

No reason for anyone here to change your mind, really.
It's your life.
None of us need to live with the consequences after the fact also.

You do you bro.

Maybe you should talk to a stylist?

1) Yes, there is a chance that the total premium paid exceeds the total sum assured, typically this is possible for those who buy at late age. But depending on the plan, some will payout Sum Assured + Cash Value, some it whichever is higher.

2) Nowadays most insurance covers till 100 years old. The initial sustainability may be set to age 80, but still can continue till 100 years old. So chances are you will die first before you "burn" your premium, lol.

But let's the person really live past 100 years old, there are plans that will pay the total sum assured, and there are plans that pay just the cash value

Respectfully, i like to point out a blindspot in your statement.
It's not because you can earn 100K then you don't need to buy, the fundamental concept of insurance is leverage.

It doesn't matter how much you can earn, insurance CAN multiply your earnings, so when you die, you leave behind money that you would continue to earn for your family if you continue to live.

Also, you can earn 100K now doesn't mean you will continue to earn 100K forever, tragedy happens.

even the richest people in the world leverage on insurance, i'll be surprised if they are dumber that the financial blogger.

I think you misunderstood me. The guys I am following are financial bloggers. They don't need to work to get the 100k. They are paid minimum SGD100k p.a to do nothing.

When they die, they pass on the money printer to their children and hence their children will continue received SGS100k p.a

No insurance can do that last time check. Anyway it's out of topic. I won't continue down thar in this topic.

..... i think that's b.s.

Why is that BS tho? You just need to have 2 million invested at 5% return a year.

2mil x 5% = 100k. No need to work and live forever without touching the capital. Easily achievable.

Because many agent only knows how to sell things and earn commission. Most don't know how to I vest themselves or if you talk about investing, they will tell you xyz unit trust. Living off dividends are not really taught in their line of work.

if one have 2mil, he can use only 30-40% of the capital to duplicate another 2mil easily that will generate the so called free income at 5%/year. And the balance can be used to invest further to gain more capital.

the reason i say most likely b.s. isn't because it's impossible to have 2mil, but smart entrepreneur wouldn't let 2mil just sit and get mere 5% "dividend" when they can leverage on insurance to free up capital , and further increase their so called passive income.

And your assumption that agents aren't proficient in investing is why you can't comprehend with some sound and wiser advises i see in this forum.
As someone who's proficient and invested in many instruments that probably you didn't even understand, i can tell you the best investment return will always be from insurance, if you can understand what i mean.

Like i said
even the richest people in the world leverage on insurance, because that's the smart way.
so are you smarter than these people?

No, he's not.
But the financial bloggers that he follows are apparently superior to just about anybody.
Second to Jesus I guess...