AIG vs Your interest

Many clients have been ringing up my cellphone, inquiring if they should sell their AIA plans when they hear about the AIG financial crisis last Monday.

My personal opinion is, why follow the herd instinct?Is there a need to cash out and stomach unnecessary losses?At least, in Singapore, we can be assured that MAS has very stringent requirements for all financial institutions set up here.

Never put all your eggs in one basket. My advice for my clients is never just get all your life insurances from one company. Why not just go to each company for their signature dish? If a particular company has a very good hospitalisation plan, they go for it. Then, when you are looking for your retirement savings, why don't you see if another company provide a better option or returns?
Never ever, buy all your financial plans from one particular person because he is my uncle or she is my best friend. . well, unless that particular person is unbias and always standing in your interests instead of the company that he or she is representing for!

That's why I, being the actuarial and financial advisor, I am always proud to sign off my emails by proclaiming ' where your needs come first'!