Life insurance matching products to needs : what an individual should know
Life insurance is important to everyone. It provides financial protection, security and peace of mind to policyholders. In the past, and until today, many people buy life insurance policies through the advice of their agents. Agents tend to package the policies together with a number of riders t...
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| Main Authors: | , , |
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| Other Authors: | |
| Format: | Final Year Project |
| Language: | English |
| Published: |
2015
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/63008 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | Life insurance is important to everyone. It provides financial protection, security and
peace of mind to policyholders.
In the past, and until today, many people buy life insurance policies through the
advice of their agents. Agents tend to package the policies together with a number of
riders to ensure that they safeguard their policyholders' interests regardless of whether
the policyholders require the rider or not. On the other hand, the policyholders may
be ignorant of their actual protection need and frequently, buy policies that do not
match their needs.
As such, this study serves to alert the policyholder to the necessity of analysing his
needs before any purchase of life insurance. He should not let the agent steer him to
a particular type and size of policy.
The objective of the study is to examine the type of policies that are bought by the
respective groups of people. An analysis is made on whether they should have
bought these policies or not, and recommendations are then made of the types of
policies they should purchase.
Interviews were conducted with several life offices to gather professional opinions.
Other sources of reference include the Insurance Commissioner's Report, reference
books and newspaper articles. |
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