Insurance
Fashion whims in insurance
By Bully The Bear  •  April 12, 2009
[caption id="attachment_2242" align="alignright" width="150" caption="Photo from Bully The Bear"]Photo from Bully The Bear[/caption] Did you realise that financial/insurance products suffer from fashion whims too? During the good old bull times, we have products offered by companies touting good returns projected way into the future (I heard from a friend, the returns projected are at 10% or more). It's no surprise then that the returns are much less than projected - it's just not sustainable. So what's fashionable now? If you ever had people cold-calling you regarding their newest product, or if you've ever been waylaid by people on your way to a shopping mall, you'll have realised that the latest fashion whim in financial products are endowment polices. These are called a variety of names but all of them fulfill the same function - save a certain amount of money per month for a period of years mixed in with a bit of insurance coverage, essentially a sort of savings plan. Hey, don't get me wrong. I'm not saying that endowment plans are rubbish - they are not. I'm just saying that they are not suitable for everyone, especially those who have no proper life plans, CI (critical illness) and H&S (hospitalisation plans). You know, when you have only one product to sell, everyone seems to need the product you are selling. Just like when you have a hammer in your hands, every problem seems like a nail to you. Read more...
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By Bully The Bear
La papillion is french for butterfly. This blog chronicles my journey from an amateur in the stock market to where I am today. Have I turned into a beautiful butterfly? I don't know, but I think my metamorphosis is still on-going now :)
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