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Anonymous

30 Jun 2019

Insurance

How should I go about learning about which insurance best suits me?

I’m currently 21 and looking at PA plans to purchase to start off my own insurance portfolio, but I’m not sure what to look out for to Ensure it’s the most suitable plan I need! Not really into reaching out to agents yet because I’m not sure which insurer I’d like to be under either! Would love some advice, thanks in advance!

Discussion (2)

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Clarence Chua

30 Jun 2019

Financial Planning Specialist at Prudential Assurance Singapore

First off, kudos to you for kick-starting your insurance portfolio at such a young age. That’s very mature and wise.

As per what Hariz has mentioned. Insurance companies product are all very similar. There is little point on comparing products.

Look for an agent that will give value to you. Choose the agent that you work best with. Don’t choose the products. Products are similar, the agent is the one that matter.

You can look at the company strength if you are concerned about the stability of the company.

Hariz Arthur Maloy

29 Jun 2019

Independent Financial Advisor at Promiseland Independent

Speak to an Independent Financial Advisor as we're not tied to any one insurance company which allows us to compare and provide the best product available at the time.
Almost all insurance companies are pretty much the same as well. They all have the same watchdog, MAS, and are governed by the same rules.

So choose to work with the doctor instead of the hospital.
Now with regards to the product, you need to know the different things PA policies can provide as benefits. Know what's important to you and how much coverage you'd like for each benefit listed.

You can do a pre research by downloading product brochures or policy wordings, but until you sit with an advisor, you may be reading blind. And contrary to popular belief, we don't bite. :)

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