Work out a budget, not more than around 10-15% of your salary/ income.
Seek a quotation for a plan that buy term life insurance and invest the difference.
Call up, GE, Prudential, AIA & Manulife agent with your budget and compared the following. But first work out your risk profile.
The fund track record for the past 5-10 yrs.
The fund expense ratio. (including distribution cost aka commissions)
The sales charge on the Plan.
OK this is highly subjective and complicated but thats why we have financial advisors. There is no right and wrong answers so....
There are also independent financial advisors out there..... but i am very skeptical about their effectiveness, so just take all advise with pinch of salt.
If your friend need advice on financial planning, can e-mail me.... i am not selling anything but like to be a busybody. I am now in a different area of insurance, used to be in sales.
