Why an IFA is unable to appreciate term insurance
This Morningstar post made a reference to the quote by Upton Sinclair:
”It is difficult to get a man to understand something when his job depends on not understanding it.”
It really reminds me why some IFAs I have encountered in the Sg cyberspace could never admit that buying term insurance and investing the money in low-cost diversified funds could be a good strategy compared to buying expensive whole life insurance.
This really says we can trust little in the title of “independent” in the abbreviation “IFA”.
Stumble it!
June 28th, 2007 at 7:31 am
your comment shows that you don’t understand the FA model or as Upton Sinclair
says your job depends on not understanding it. Please speak to people at Provident.
FAs are strong believers of buy term and invest the rest. Your business as a tied agent will soon disappear when more people believe that this approach benefits them more