I don't know what I bought. What should I do?

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So we have met many sticky situations where our prospects bought insurance/savings policies from their relatives/friends as a form of supporting them in their sales business. However, most of the time, they do not know what they have at all. Of course we posted this because in reality they do not want to ask their adviser for the answer for due to fear of being upsell, pushed to buy more products just because they are the brother/sister/cousin/best friend, afraid of upsetting the relationship and so on...

Some other times, your adviser has left the industry, or you bought your policies from a bank.

Here's what you can do:

(1) Find out the insurer you bought your insurance from. There are many insurance companies in Singapore.

https://www.lia.org.sg/about-us/member-companies/

https://gia.org.sg/consumers/about/member-directory.html

(2) Obtain the customer service hotline of the insurance company and make a call.

(3) They will do a necessary identity verification before proceeding to provide you with all the information you need. Here are some key questions you can ask:

- How many policies do I have with your company?

- What does this policy cover?

- What is the coverage amount?

- How long do I have to continue to pay to maintain this policy?

- What is the surrender/cash value of the policy?

- Can you email a summary of my policies to me?

- Do you have a members portal where I can access all my policy information online?

Alternatively, you can just contact us for a financial portfolio review and we will do everything for you for free and click here to find out why we don't mind!

#financialplanning #findingoutwhatIhave