Saturday, June 23, 2007

... and going to fall sick!

i'm having a sore throat plus slight cough these days.

Gary recommended me Leftose for my throat, Benadryl for cough. Thanks for the suggestion; now i know Guardian is the shop for GP-ed medicine.

doing my finances right now. Apart from the normal expenses, i have spent on a handphone, and need to reserve $492 for my flight booking. Headache.

now i realised all my Prudential policies are on the chopping board, because they are simply not performing well. It's partially my fault for not reading up in the first place.

So for all who are planning to purchase Prudential/AIA policies, i have something to forewarn. Be aware that their products may not be the best among all. Financial agents are trained to close sales by attacking YOUR psychological fears and may unethically recommend highly profitable policies that don't provide you with basic risk coverage (and then pocket 6-12 months of your hard earned premiums depending on the nature of policy),

Once you signed on the dotted line you're in trouble. Yes, there are free-look periods, but your advisor will try to persuade you not to terminate. If you don't know of better products elsewhere, you'd probably be convinced and carry on. Until you realise you're screwed 20-25 years down the road.

the first plan to be killed was PruShield, whose offering was poorer than many others. Although they realised it by revamping it, it's too late. I've already crossed over to NTUC Enhanced IncomeShield.

the second plan is PruCash (lose all my premiums as a punishment), for other better alternatives. At the end of the year, my PruLink SA II will be cut too. I will probably retain my PruLink A for retirement purpose, and the latter's advisor has been serving me well (thanks WG).

i'm sorry if any of my affected advisors are reading, but after reading a little i believe my money can be better grown elsewhere.


Eliza said...

Luckily my mum makes me sit down whenever the insurance agent comes so I know lol. Better to spread your policies among the different insurers.

zhiming said...

It's good to diversify in this sense. Insurance and financial advice should come from an independent financial advisor (IFA).

Otherwise you're confined to only a single company's product line.

Many people said CPF investment is good, however it's not the best in its class. It can even perform worse than the 2.5%/pa interest given by the CPFB.