Insurance
review of a family’s insurance portfolio
By Patrick Lim  •  August 2, 2011
today, i met-up with a wealthy prospect (referred) who is still almost clueless in terms of the total coverage the family has, even though they have taken up more than 40 life insurance policies over the years. and what is really surprising to me is because even though they have recently engaged a fa rep (whom i know and respect), there was no comprehensive analysis and review of their wealth protection portfolio carried out with the family. i have a daunting task ahead because firstly, i come highly recommended to the family and secondly, this family's collection of life insurance policies is the highest in number in my entire 14 years in the financial industry. my comments: on my first scrutiny of the policies, there are significant gaps already uncovered and the most important one being the lack of any pure individual disability income coverage. should (touch wood) either or ......
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By Patrick Lim
Patrick is an Associate Director with Promiseland. He has more than 20 years of personal investment experience both in stock and shares and unit trusts. In his early years as an investor, he got burnt really bad in the infamous 1987 crash and again during the clob incident. With 2 decades of so-called battle scars behind him, the last few years (since 2003) have been good to him especially with his single country funds doing exceptionally well. On his investing style, he is both a technical analyst and fundamentalist. Patrick view wealth accumulation as part and parcel of the wealth management process but only if one has already executed his/her wealth protection planning on an on-going basis.
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