Damn I have been right. The insurance policies which I have been paying regularly since 8 years ago are worth less than 40% of the total amount I have paid up over all these years.
Ouch. I could have been been better of putting the money in a bank. I mean, what happened?!
Ok, I guess I haven't been reading the letters the companies sent, informing about fund name changes and stuff. I also still couldn't pull myself to read through all the annual report updates as well.
My bad.
But I also blame the fact that after I bought the policies, I have not heard from the insurance agent like maybe for the last 6 year after my account changed hands (the person whom I bought from, who was a friend, left and was handed over to someone, and he also left). I guess onus still falls on me to at least call the insurance agent to find out what happened..But I do have a right to expect the insurance agent to advice me whenever there are fund changes right?
I wonder if I was the only one who ends up in this predicament. Now I would have to make sense of the terms of my policies before I meet up with this agent (who I never met before) next week.
1 comment:
I believe I'm 10x worse than u.. Don't even bother to ask what I bought.. But I'm lucky to have my agent calling me up yearly religiously for the past 5 to 6 yrs.
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