complicated simplicity

 This is an advertisement, my disclaimer is available here.

I recently talked to my personal banker at Citi Group and he brought me through a financial planning session to consolidate my investments so far. The first thing he checked was home insurance, life insurance and car insurance. Yes, I have all my normal bases covered: Death and Disability, Major Diseases, Natural Disasters and Accident. I have insurance policies, some pure insurance, some others are investment-insurance policies, from NTUC, OAC, Great Eastern, Aviva, Prudential.

Some people may not see the point of insurance, but in financial planning, having good insurance coverage is the most important. In fact, a proper financial advisor would never as you to put money in Savings or Investments until you have appropriate insurance coverage. Generally, the order of importance goes like this: Insurance > Savings > Investment > Speculation. You never know when you need the money for medical and other emergencies. The lowered cost of insurance now and the varied packages available gives no one excuses to not have adequate insurance coverage.

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