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Why Women are like Insurance

Once I meet up with a prospect who just got married, and so I asked how is marriage life? He gave an unforgettable replies, “do you know what woman and insurance have in common? They are both expensive and difficult to understand.” I have to agree to my prospect and told him that if he know how to treat them right, he will receive more than he gives for both, and this is how I present to him.

What are the 3 basic needs of women from their men. They are time, love and tenderness. You need to give your time and attention and listen to all their complaints and “stories” as women need to be heard. Remember to give your love in taking care of them and tenderness in giving them little surprises every now and then. When comes to women 3 basic needs of time, love and tenderness, they are base on one variable, which is your effort. And remember it is a continuous effort throughout your life, you will have to do it over and over again, because they will require your time, love and tenderness over and over again, as providing to your love one is a long term commitment, just like paying for your insurance. And when women felt loved, they will want to give back in return many time more than you had given.

Our life will also have 3 basic necessities which is, shelter. food and clothing, in fact they are also base on one variable, which is our income. In reality, your income decides the type of food you eat, your income decides what kind of clothes you wear and your income will decides on what type of house you will be living in. These are all based on lifestyle. Now, there are only two ways to get income, either you work or insurance work. Currently you are working and providing the food, clothing and shelter to you and your family. Unfortunately, if one day something was to happen to you, insurance needs to start to work, and immediately take over the responsibility for your family. But you need to understand however there are limitations to what insurance can provide. That will be 10 times of your annual income on your life insurance when you pass away. 5 times on your annual income on your income protection insurance should you fall sick. A stream of guarantee income for your retirement needs, for which you need to save 20% of your income. And support your children higher education for which you need to save 5% of your income.

So in conclusion, both women and insurance have 3 basic needs and base on 1 variable, both are long term commitment, and provide you more than you had given.

Good news! As a consolation, there are something available (only apply to insurance), which is limited premium payment terms for your life insurance, income protection insurance, retirement plan and even children education saving, thus you are not required to pay your premium over and over again, throughout your life! Seek help from your friendly financial consultant or contact me for a holistic financial planning strategies.


One Last Thing

If you have children, there is an article for you, Best Children Education Saving and  Best Tips on Raising Financially Smart Children. I also created Best Top 10 Financial Tips some useful tips for your financial planning, before year end, and help you on your money management for the coming new year. And also Top 5 Mistakes When Buying Insurance in Singapore Part I and Part II.


Note: Opinions expressed are solely in Mr. Chan Kong Meng’s personal capacity and neither express the views or opinions of Prudential nor represent any professional advice in Mr. Chan Kong Meng’s capacity as a PACS representative.


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