A consumer asked me a question relating to the risk of buying life insurance directly using the Compare First website (www.fisca.sg).

He asked why he should buy a term insurance policy up to age 65 where the premium is high. If that is the case, it is better to buy a whole life policy which gives a cash value. I asked him to consult a financial adviser and pay $100 an hour (my estimate) for the time. 

However, if he had bought my book on financial planning, he would have understood that he does not need to buy term insurance up to age 65. He only needs a 25 year term insurance policy.

If he wants me to spend time to guide him, he has to make a donation to FISCA for the time that I spend. It would be better and cheaper for him to buy the book on financial planning or attend a talk organized by FISCA.