At 24 years old, is it recommended to purchase all my insurance (health, term life, critical illness, disability, PA etc) with one agent?

Hi!

You are definitely not obligated to get all your products from one insurer. Unless you have a trusted and close relationship with your advisor and you feel like the products offered are in line with your budget and needs, it's not necessarily more beneficial either. In fact, while one product from a particular insurer may be great, another product from them might be uncompetitive in terms of pricing and benefits.

Thus, the best thing to do is to conduct research via comparison sites that do all the hard work for you. If you're curious, we have plenty of insurance guides that discuss health, life, PA and critical illness plans. Then, once you find products that you're interested in, you can speak to the relevant financial agent or look for an agent from an independent fin. advisory firm to get a second opinion. This way, you'll get a chance to get to know other insurers, their plans, and may even find more suitable options. At the very least, you'll see how AIA products stack up against others.​​​

Personally, I will prefer to work with a capable and responsible agent who is able to take care of my needs for the long term. This is especially important since insurance policies are likely to be a long-term commitment. Therefore, I will want to ensure that 1) I am getting the right policies; and 2) I receive trusted advice.

For your situation, it is best to consider the thought process that I went through. Additionally, it will be good for your to have basic knowledge on what you need.

At the end of the day, products are more or less the same. Instead, it is the level of service and quality of advice that brings clarity into your future.

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Hi Anon,

It's usually a preference thing. Some people prefer to just look for 1 person in the event of any insurance claim as regards to looking for multiple people when making claims.

Like what some suggested, it makes sense especially if your agent is an IFA, where they distribute a range of products from different insurers. But of course if your agent is someone your really trust, irregardless of which insurer they are with, you would stick with them because you know that they have your back and that is really the ideal kind of relationship we should have with our agent.

Also in regards to what policy you should look at it really depends on your needs, and you could reach out to a couple of AIA agents in the Seedly community to get better advice.

Hi anon,

There's no requirement to have all your policies from a single person. I'd venture to say that what's probably the most important is to first find an advisor you can work with. If this person happens to be from an independent financial advisory firm, that would be even better as he or she can help you to analyze your options across multiple companies.

There isn't a single AIA policy that can encompass 'everything'. Different policies serve different purposes. CompareFirst can give you a basic comparison of some of the most common policies out there, but you might want to speak to an advisor to get a better understanding of any policy in general. If you really want to have a single point of contact for comparing a majority of the policies on the market instead of running around to meet multiple tied agents, then you will want to speak to someone who is an Independent Financial Advisor.