Which is the better option to buy insurance - Insurance agent vs financial advisor vs bank? Planning to get insurance and wondering how to go about it?

1. Go for MoneyOwl or PolicyPal who offer independent FAs and can distribute products from various insurance companies.

2. Definition of independent FA: Can distribute products from various insurance companies, salaried (not based on sales). The usual non-independent FAs earn the commission from the insurance you purchase through them.

3. They gain commission from the insurance you purchase through them. But independent FAs, like those from MoneyOwl, claim that they are salaried so it doesn't matter to them whether you buy or don't buy.

4. Refer to point (1) and can check out https://www.comparefirst.sg/wap/homeEvent.action for reference. Personally, I used MoneyOwl's product catalogue to compare prices.

5. Banks only distribute a limited amount of insurance policies e.g. endowment plans, whole life insurance, etc. Just them alone's may not be enough for your coverage needs.

Independent financial advisor. Bank & agent just salepeople although they taken the cert, they may know their products, rules & regulation well, but i think most of people here is more well-verse in investment, just my opinon. In addition, there is a conflict of interest. Your well-being VS their commision.

• Because you already pay him a fee. (He would/should not be pushing you ILP for high comm, ethically saying)

• He is not oblige to sell particular insurance company pollicy (unlike bank, DBS is manulife, OCBC is great eastern)

• He will help you to do a risk profilling & should be also able to help u build a "wholesome" multi-asset portfolio base on your financial situation. Not just portfolio make up of pure insurance plans.