Most people knows what is Insurance and most people "buy" insurance or being "sold" insurance either directly or indirectly.
However, what most people do not do is Insurance Planning.
Most likely layman can not do Insurance Planning by themselves due to lack of knowledge in the principle as well as the products.
These are the buzzwords for Insurance
#RiskIn order to be able to do a proper "Insurance Planning", without being sold a policy, you need to have knowledge about Insurance as well as the products available in the market. Alternatively, get yourself a good Adviser.
#Whole Life Insurance
#Term Life Insurance
#Waiver of Premiums
#Personal Accident Insurance
#Participating Fund Policy
#Assignment of Policy
Factors to be considered when doing Insurance Planning, or review the Plan, are
- Assets & Liabilities
- Asset Allocations
Last but not least, Insurance Planning is just part of Comprehensive Financial Planning. Ideally to do a Comprehensive Financial Plan first, which include Insurance Planning, instead of just do part by part.
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