Insurance is one of the most critical yet often neglected parts of financial planning. Although its feared reputation as a double-edged sword is well-earned due to reckless misrepresentation and concealment of information from customers, it does not mean there is a viable alternative to it. However, it never hurts to educate yourself and exercise some vigilance while making your investment decisions and help you avoid becoming a part of the insurance horror stories you hear about from other people.
Insurance must ideally be purchased when you are young and at the peak of your health, because the premiums you pay will be a lot more affordable than the ones older people with numerous health conditions are liable to pay.
What to Look Out For While Dealing With Insurance Agents
In Singapore, you are likely to encounter the following 3 types of agents with specific qualifications while scouring for insurance schemes: