IM$avvy carried an article from The Business Times – What turns off Gen X and Gen Y on life insurance – which talks about the reasons why few Singaporeans aged between 20 to 40 wish to purchase insurance.
As stated by the article, a survey found out that most people are put off by insurance because of the high price tag they perceive insurance to carry.
Interestingly enough, the amount of money the respondents indicated they were willing to pay for insurance was either the market price or higher than the actual price of insurance.
Sadly, the article stops short of exploring the reasons why people have a misunderstanding of the actual cost of insurance, though it is not difficult to explain. Having a good idea of how the industry works, I can understand why people feel that insurance is expensive. The policies presented to them are indeed expensive!
The ...... IM$avvy carried an article from The Business Times – What turns off Gen X and Gen Y on life insurance – which talks about the reasons why few Singaporeans aged between 20 to 40 wish to purchase insurance.
As stated by the article, a survey found out that most people are put off by insurance because of the high price tag they perceive insurance to carry.
Interestingly enough, the amount of money the respondents indicated they were willing to pay for insurance was either the market price or higher than the actual price of insurance.
Sadly, the article stops short of exploring the reasons why people have a misunderstanding of the actual cost of insurance, though it is not difficult to explain. Having a good idea of how the industry works, I can understand why people feel that insurance is expensive. The policies presented to them are indeed expensive!
The ......
