By: Patrick Lim Recently, i have had many requests to review existing insurance portfolios. Why? Because the compulsion to continue to pay premiums to keep all the policies in-force may be proving to be too huge a strain for most individuals and families in the current tough economic climate amidst the spectre of more pink slips to be distributed as companies engage in cutting costs to stay profitable as seen in the case of DBS more recently. But the opportunity to review more insurance portfolios now may be as good as it gets on the basis of either an urgent or overdue review of wealth protection planning which may yield the following results: a. being over-insured b. or under-insured and c. perhaps, even duplication of insurance coverage In fact, after every comprehensive review of insurance portfolios, there is always one significant risk being uncovered of being under-insured in exposing a gaping hole of not having a pure individual disability income plan. After a comprehensive H&S plan, I consider this coverage to be the second most important wealth protection solution. But to me, this solution is always missing in all insurance portfolios that I have reviewed and I do not find this surprising mainly because of the following reasons: Read more...