Is Premier Life Generation suitable for me?

My Wife and I are in our early 30s. We both are introduced Premier Life Generation by our OCBC RM. Is this product suitable for people in this age range? (We have enough to spare for housing and family planning after buying this product)
Posted on: Apr 14, 2017 Share Share

Answers written by financial consultants represent general information only. For advice on specific life insurance or investment products, please contact a licensed financial consultant.

An appropriate answer should be derived after a comprehensive financial planning is conducted with you and your wife. The bank RMs are usually more interested in selling you a product. Most Independent Financial Adviser (IFAs) will spend more time to assess your objectives and needs before we propose and find a solution that suits you. I suggest you get a second opinion from an IFA, most are willing to give you a free consultation. At the least, there is a range of insurers to compare with and your OCBC RM will gladly take you back if that is the best plan in the market that suits you.
Apr 17, 2017

Firstly, understand what are your real needs and today, there are 1001 ways to achieve your desired results right from simple insurance needs to legacy planning.

Secondly, understand your own experiences with financial planning and planners. Look for an advisor who could advise you with a suite of advice to deal with today's complex needs.

Lastly, products will always evolve and there will always be a new offer in town that is better than the previous plans. So the first 2 points I mentioned are the more important pointers to consider.

You should not delay as we do not know when disasters strike or when our Maker comes calling. But do not take up a product just because it sounds it is so fantastic at the moment.

I like to tell my clients, manage and implement solutions like there is no tomorrow but plan as if you have another 100 years.
Apr 28, 2017