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