read up on life insurance options

the following letter is posted in the online stforum of the straits times:

Mar 10, 2011
Read up on life insurance options

WHILE the majority of Singaporeans own life insurance policies, most of them are not aware that the policyholder has the right to transfer and sell his policies.

Insurance policies are discontinued for various reasons, and although the rate of surrender is low, it is by no means insignificant.

Policyholders have the right to know their full options. The ownership of a life insurance policy can be assigned to relatives, friends, any third party or entity.

An endowment policy which has lapsed with outstanding dues may have value in the secondary market.

I encourage consumers to take a more proactive role in their financial matters. Abundant educational resources are readily available online.

Micky Neo

yes, i agree with mr micky neo that consumers here should raise their financial quotient by being more proactive in their financial matters. and yes, there are abundant resources readily available online but one caveat here, do not place reliance on what u read because these may at best be half-truths or worst, merely opinions expressed by the authors/forumers in the guise of pushing their own agendas.

if in doubt, u should seek a second or even third opionion, engaging a professional financial adviser. and last but not least, always do take heed of this time honoured warning, caveat emptor.