Contributed by Tan Siak Lim, Financial Advisory Director, Financial Alliance Pte Ltd
(The contributor can be contacted at siaklim@fapl.sg)
All along, there have been 2 camps of financial consultants arguing for their opposing cases.
The larger group of traditional insurance agents usually argue that whole life insurance is superior, whereas a smaller “new age” kind of consultants would argue that term insurance is the best solution for ALL situations.