Start of new Blog

Well, lets get started on this blog. So why did i create this blog ???

I hope to share my honest opinions on insurance products and educate people along the way. So, before i did a course about the industry, i was like many others.
Hear the word "Insurance" - ZAO ah SCAM MONEY !! DON'T YOU TRY SELL ME
But is that really what the industry is all about? Scamming innocent citizens off their retirement savings?? 

Ignorance is often not a good thing, i believe there is no harm in finding out more. Do you want to be ignorant and continue to think that the earth is flat? Sure go ahead, be careful not to fall off the edge.

Of course, there must be a reason why people are afraid of the word insurance right?
My guess is that insurance is often associated with death. If you buy insurance, you are admitting that you are vulnerable and could die at anytime. People simply don't like to feel vulnerable,but the cruel reality is that we are just feeble human beings.

Another reason is that people don't like to be sold things. They feel that if they need to be convinced to buy something, it probably mean that they don't really need that product since they've been fine and dandy even without the product. People don't see it as an immediate need, like food and drink. Humans are supposed to be smart and plan ahead, if you fail to plan, then you plan to fail.

Finally, i must admit that misselling  has a huge part to play as well. The industry is commission based and many planners chasing the $$$ will anyhow sell to any clients. This is less prevalent now as the industry is better regulated. But if these clients were educated, misselling would not have occurred. Knowledge is power my friends. Or if you lazy, ask for referrals from friends for a honest financial planner. Best if you personally know a life planner or have a relative working as one, that way they have your best interest at heart.