Oct
13

Should I attend Wealth Management seminar?

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Should I attend Wealth Management seminar? 

Last Saturday, I attended a Retirement Wealth Management seminar and I highly recommend everybody to attend it as it actually teaches you where to put your money if you want to grow it and how to protect your wealth as well as plan for your future early.

Wealth management seminar

The speaker is an insurance agent (today their new title is Financial Planner) and their motive is to sell you insurance.  The difference is that they do not just talk about insurance policies.  Along the way, they will give you useful financial hints which will benefit you a lot if you listen carefully. 

Their working model is different from normal insurance agents.  They do not belong to any insurance company and basically they represent all insurance companies.   All you need to do is to tell them what you need; they will look at all the policies from different insurance companies and find the most suitable one for you. 

insurance to protect your wealthAlthough they will tell you their service is free, there is no free meal in this world. The truth is that they get paid by the insurance company and their cost is added on to the policy you bought, therefore I usually will buy insurance from my friends or relatives which I know are reliable. In any case I have to make someone rich, it is better to benefit somebody I know.

I am lucky to have the opportunity to learn about the benefits of insurance at a very young age through my neighbor.  It is not because I am rich and have nowhere to spend my money that I buy insurance.  In fact it is the total opposite.  It is because I do not have excess cash to pay for unforeseen situations, and therefore, I bought my first policy and I added more protection as my earning power grows over years.  Today I am already enjoying the money because the policy is maturing and they pay me back principle plus bonus.

The only mistake I made was to buy all of my policies from one company.  I discovered my mistake through attending such a talk conducted by this Financial Planner.  

I was never told in Singapore that there was a law to Insruance claim formprotect the consumer. We all know the process to claim usually takes a long time. But with this law in place, when you can prove you have a valid claimable policy with the insurance company, they will pay you a fixed sum of money first, and then it will be deducted from the final payment due to you months later after they settle the account.  

The trick is if you buy from only one insurance company, regardless of how many policies you hold, they can only pay you one fixed sum, but if you buy from 3 insurance companies, you can get from all 3 insurance companies that fixed sum. 

You only need to get one good financial planner and get him or her to help you buy different coverage insurance policy from multiple companies.  You don’t have to work with multiple insurance agents.  If you ever get invited to this seminar, make time for it as it will benefit you a lot.

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