Asked by Anonymous

Is it safe/advisable to buy insurance online instead of through a financial advisor? If online, must I process the claims myself?

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  • Charmaine Ng
    Charmaine Ng, The Code Breaker at @ Every Chye Peng Stall.
    Level 5. Genius
    Answered on 02 Mar 2019

    You can purchase certain insurances on your own. Insurances such as travel insurance are easy to claim and is more direct in their clauses in the sense that the claimable and non claimable criteria are all clearly laid out for x amount of premium you paid.

    For other insurances like whole life, term, hospitalization, critical illnesses etc. Can be a little more complicated and differs across some insurance providers (triple claim, one time claim, early stage, late stage etc.) So for these it's usually more advisable to go to financial advisers who are more aware and trained in this aspect.

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