In Today’s Straits Times, there was an article which says “Life Insurance sector sees strong six-month growth”. For the un-informed, they may think that the life insurance sector is doing very well. But this is not true. I dug up the statistics and found the following: For first half of 2013, the total sum assured for new business is up 1% compared to the same period last year. On the other hand, the weighted premium is up 24% compared the same period last year. 1% and 24% are vastly different! That means the life insurance industry is concentrating mostly on savings and investments products. Another indicator that the life insurance companies are not operating as life insurance companies is the fact that only 7.6% of the payout is due to death, critical illness or disability claims. The remaining 92.4% is due to policies that matured. Life insurance companies ......