Buying Insurance to Protect Wealth

My car insurance is due soon. I’ve been comparing prices to check the current price trend. It seems that car insurance premium is ever increasing in Singapore. By comparing prices, I can see a wide range of quotes. The variance from the lowest quote to the highest can differ by 25%. Most of the time, I bought from friends who are insurance agents to maintain relationship. The premium must be reasonable though I don’t expect it to be the lowest.

Buying insurance can be quite confusing for many people who are unfamiliar. There are many different policies in the market. This is the reason, I bought from friends who can patiently explain and advise me on what policies to buy to suit my needs.

The main objective of buying insurance for me is to reduce my risk against unexpected events that will drain my wealth and affect my family’s lifestyle. By buying insurance, I transfer my risks to the insurance companies who normally have a large pool of customers to spread out the costs. With this objective in mind, I normally opt to include a rider scheme where I don’t collect back my premiums paid in exchange for higher insured amount

It’s a blessing to have insurance agents as good friends. They help me in my journey to prosperity.