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Buy an insurance. What matters?

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  1. #1

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    Lightbulb Buy an insurance. What matters?

    If you are considering buy an insurance for either healthcare purposes or wealth investment, but you don't have any previous knowledge in this business, which steps would you take? would would you look at as relevant features?


  2. #2

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    ask for good insurance agent recommendations is the 1st step


  3. #3

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    What do you mean by insurance for "wealth investment"?


  4. #4

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    Certain insurance policies can be linked with investment funds, so that you not only get death benefit or health coverage but you can also increase the value of your policy, according to the performance of the related funds


  5. #5

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    Yesterday I was reading an article about how hi-tech, AI, IoT are changing the business, with "intelligent" virtual intermediaries able to give you the best options, directly through an app on your smartphone. You answer some questions about your risk tolerance and time horizons and they'll give you the best range of products, based on some algorithm. Do you believe in that or you prefer the good old human intermediary?


  6. #6

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    How old are you by the way? Keep in mind all this fancy shot is just overhead that you are paying for. Don't waste money on investing via an insurance plan. Look for the monthly savings plans threads in the forums for more ideas.


  7. #7

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    Quote Originally Posted by shri:
    How old are you by the way? Keep in mind all this fancy shot is just overhead that you are paying for. Don't waste money on investing via an insurance plan. Look for the monthly savings plans threads in the forums for more ideas.
    In my thirties. which according to many experts is the right age to start an insurance plan, since in theory you have enough time to get good long-term return. And considering that many of my generation are unlikely to get good retirement, private individual policies seems like being a good solution

  8. #8

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    And what do the experts say about insurance for someone you age? Can you point me to one that says insurance should be mixed with investments?

    Why do I get the feeling that you are reading off an IFA script?

    orel100x and Hkemail888 like this.

  9. #9

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    Quote Originally Posted by shri:
    And what do the experts say about insurance for someone you age? Can you point me to one that says insurance should be mixed with investments?

    Why do I get the feeling that you are reading off an IFA script?
    they say that an insurance plan works best if you are young since you pay less and you have a bigger return of investment on the long-run. I am not an expert that's why I ask here. And I am just reporting something that is common knowledge I think (I dont know what a IFA script is)

  10. #10

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    I've had good and bad experiences with insurance. Some people are going without. Of course there is the required insurance and the optional ones.

    The best thing is to make sure the company pays out and timely. I've had claims before paid out 50 cents on the dollar, sometimes they refuse and the only route is the legal way and not worth the costs/time involved, then there are ones that pay out well. I recently had Prudential in Hk pay out 100% and in less than 10 days. I am impressed.

    AlexMe likes this.

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