what is the cheapest way to buy insurance without having all the middleman cost..
why cannot insurance have a website where you just click the product you want and then you have bought the insurance after filling some information??
i dunno what u mean by middleman cost. does middleman costs = agent commissions? or insurance company commissions ?
let's take a typical investment linked insurance policy. the first 3 years u will have your premiums deducted (more or less) in the form of :-
1st year - 80%
2nd year - 40%
3rd year - 20%
These costs go to pay agent commissions and company running costs. Its a sad truth but people get turned off when they see that their money is, instead of being invested wisely, being used to pay for commissions and running costs.
are you trying to omit these costs? because if you are, its very difficult.
www.dollardex.com sells insurance online. but u haf to sign up (free) as a member. i dunno whether they're cheaper but u can take a look.
Wat! Which company com so high? Hoho.
The com in SG is usually about 50% in the first year, 25% in 2nd year, then drops to 5-10% in the next 2-3 years. And this is in the Tied Companies. Some companies even lower.
To give u a feel for comparison, some insurance companies com in other countries, pays the agent 15% yearly as long as the customer pays the premiums! So in a way, SG still quite ok.
And TS, there is not much difference buying from a agent n through a website in terms of cost. You pay the same premiums for the same insurance contract terms. Just that if you r getting thru an agent, the company pays him/her. If you are getting directly thru a company, the company gets more "profits", plus you dun get the servicing the agent provides.
Cheapest way is to claim after getting it .... lol ...
u can get travel insurance on ur own.
Try CPF Medishield? U pay using ur medisave...