Invest
The necessity to sell 101s
By Wilfred Ling, The IFA on Duty  •  August 8, 2013

There is a big who-ha in Hong Kong in which an individual claimed to have been mis-sold an ILP. Her boyfriend made the case into quite sensational news recently. This may have prompted the Hong Kong authority to publish a consumer guide to ILP. In Hong Kong, the ILP is called ILAS.  There are many types of ILPs. Some are ok while others are really bad.

In the past, an ILP was said to be not suitable for insuring a person when he is old due to the escalating insurance charges. However, there are now many ILPs which have little or no insurance component. Within the advisers in Singapore, we refer these ILPs as ‘101s’ so as to differentiate them from ‘traditional’ ILPs. I have attempted to post the details of such 101s on my blog before but I instead got a legal threat from an insurance company and ...

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By Wilfred Ling, The IFA on Duty
Wilfred Ling is a Chartered Financial Consultant with Promiseland Independent Pte Ltd. He is a fee-based financial planner by profession.
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