The writer is not a certified financial advisor and his insurance philosophy is outlined in this brief. Do consult with a certified financial advisor to get a second opinion before making decisions.
For more write-ups on insurance do take a look at the insurance section.
Yesterday I got a message from an old friend of mine. A friend approached him to introduce Great Eastern Prestige Harvest to him.
This product was introduced as a Single Premium Insurance policy.
Considerations:
- Premium is USD 90,000.
- Non-participating. This policy does not earn bonuses from a participating fund from the Insurance company.
- Denominated in USD. Which means that you are subjected to currency fluctuation risks.
- Interest Accrued Daily. I am not sure how this matters, but if compounding takes place daily then its definitely a good thing.
- Sales charge and expense charge. The sales and expense charge is 17.75% of single premium and ...