By: Adrian Khiat My colleague came back from an appointment and complained to me. She was utterly disappointed with what the industry are doing to spoilt people finance instead of helping them. She just completed a review for one of her client who is in her early 20s. The first insurance decision taken by this young lady 2 years ago was: 1) A $300k Life policy with premium nearly $500/mth (Think the payment is until age 65) 2) An Investment Linked Policy with $400/mth. (Not the type with 100% allocation) Her current cashflow is very tight now because of these 2 policies. The insurance premium is probably taking up 30% of her total salary. She had already incurred most of her expenses as these policies are more than 2 years old now. * The 1st interesting part is, "She thought everything is well taken care of since she had spent so much money." * The 2nd interesting part is, "She purchased this package from the direct distribution channel which are suppsed to provides unbias advices." I like to share my opinion here. Read more...