Like most hot-blooded young men, I was first exposed to the insurance industry’s sales tactics at the tender age of 19. While I was waiting for my bus to get to camp at Pasir Ris MRT station, a good-looking female insurance agent approached me, wanting to share with me the benefits of a good insurance plan by arranging for a one-to-one session.

That proposition proved to be irresistible. I handed out my contact information, and the rest is well, history.

Besides buying a conservative endowment plan (which I had liquidated at a small loss many years ago) during those NS years when I first experienced drawing an income, I had also bought this Investment-Linked Plan from AIA called the “Achiever” plan. It was sold to me as a savings plan, where I would set aside $100 each month, 50% invested in China funds and another 50% in India funds. 15%-20% returns were touted ...