Singapore Expats Forum

TERM LIFE INSURANCE

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Paisa
Newbie
Newbie
Posts: 1
Joined: Mon, 10 Nov 2008
Location: Singapore

TERM LIFE INSURANCE

Postby Paisa » Tue, 07 Jul 2009 10:43 am

Hi,

I relocated to Singapore from the UK earlier this year and stupidly did not increase my Term Life insurance coverage before moving here. Because I no longer live in the UK the prices I am being quoted there are pretty high. (The policy is considered an offshore policy and there aren't that many providers). Unfortunately, the prices that I am being quoted in Singapore aren't that much better either and the bulk of the agents I have come across are tied.

All I need is execution and I don't want any advice. Does anybody have any ideas/suggestions on where/how to buy term life insurance (in Singapore or offshore) without paying extortionate commissions? Any ideas/suggestions would be appreciated.

TIED AGENTS NEED NOT REPLY!!

Many thanks.

Nath21
Chatter
Chatter
Posts: 256
Joined: Wed, 20 May 2009
Location: Singapore

Postby Nath21 » Thu, 09 Jul 2009 1:03 pm

I can tell you right now becuase i work for an insurance and investment company that most companies in singapore dont have a licence to sell term life to expatriates that are based outside of the country. It dosent mean they dont do it but your product could be void. Now that can seem pretty cut and clear but if you have a home address still in the uk and are a uk resident (not talking tax residency) then technially its illegal to sell you term life because your calassified as an expatriate living overseas and your just working on a Ep. That has assumed your status but it might fit your facts and lets you know its not clear cut.


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