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Anonymous

28 Jul 2020

Insurance

Can I buy Life insurance directly without Financial Advisor?

Discussion (2)

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Pang Zhe Liang

28 Jul 2020

Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)

Yes, you can. Typically they are call direct purchase insurance. Here is some information about it: https://www.moneysense.gov.sg/articles/2018/10/...

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PolicyPal

28 Jul 2020

Official Account at PolicyPal

Yes, you can, you can buy Direct Purchase Insurance (DPI) directly from Life Insurance Company. This will spare you the distribution cost to the Finacial Advisory representative (Insurers, Financial Advisory Firm, Financial Advisory Representative). You can identify DPI products by the prefix "DIRECT" in their product name.

However, do note that you can only insure yourself up to $400,000 per insurer for DPI. It is also advisable that you engage a financial advisor to ensure that you are adequately briefed on the products.

Do get in touch with us if you have any questions.​​​

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