Money Hacks Ep 75: Insurance - term vs whole life, what makes sense amid Covid-19?

10:53 min

Synopsis: Updated fortnightly on Mondays, The Business Times breaks down useful financial tips.

This episode is aimed at how investors can manage risk and insurance during the Covid-19 pandemic.

Host Chris Lim speaks remotely with bionic financial adviser MoneyOwl's chief executive and chief investment officer Chuin Ting Weber.

She explains the following points:

1. Why the role of insurance is protection (2:40)

2. Why our most important financial asset is our income (3:45)

3. What does it mean to be comprehensively insured? (5:45)

4. Why term insurance is more affordable and preferable till your planned retirement age and you no longer have dependents (7:00)

Produced by: Chris Lim and Ernest Luis

Edited by: Adam Azlee

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