With the recent review by the Monetary Authority of Singapore (MAS), one of the key initiatives was aimed at raising the standards and professionalism of the financial advisory industry and enhance efficiency of the distribution in life insurance and investment products in Singapore. Direct Purchase Insurance products are created as a result.
So why the need for financial planner when you can purchase DPI yourself?
- There are different needs at different life stages. Speaking to a financial planner, he/she will be able to assist you in the decision making process, as life protection is a long term commitment.
- Customization of each policies to match your needs. There is limitations on DPI products such as maximum amount of coverage. There may also be some differences in the TPD (Total Permanent Disability) claim definition or in the number of CI (Critical Illnesses definitions).
- There are some products that are not sold as DPI.
- Claims process will be much simpler with the planner on your side.
At SkyFP, everything is about your needs, leaving you with the freedom to fulfil your dreams and secure your future.
Experience the SkyFP difference by contacting us now!