Had a long session with my Prudential Insurance agent. I've started my insurance policy since 18 (= independence) I believe it is time to renew it.
I firmly believe that I have only myself to rely on at the end of the day. It is only with such beliefs that I would impose the least on anyone, especially my closest kins.
Anyway, I worked out the details with him carefully, studying the various plans and deliberating over the kind of returns that I would want.
Eventually I commited abotu 12% of my monthly salary on a combination of traditional life insurance policy and that pegged onto a unit trust.
The traditional insurance policy only entails a 15 year contribution before it assures a lifetime sum of 120K to 300+K.
The pegged one allows me to withdraw the unit trusts. I reckoned a mix would help reduce the risks.
I wonder if I've spent too much on insurance.
But then again, there's never "too much" when it comes to saving for a rainy day, is it?
So how much do you guys spend on insurance? Do consider it, okay? =)