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Posted by on July 3, 2009, 5:48 pm
> Can someone help me with this. Do I have to invest or buy insurance
> only from the company that my financial planner works for?
The short answer is "no". You may buy insurance from anyone
who sells it. Just like you may buy securities from any other broker,
even if you already have a brokerage account in one place.
The real questions, though, are more complicated.
What kind of insurance are you talking about? Are you sure
you need it?
Be wary of anyone who calls himself a "financial planner"
yet who is actually an insurance salesperson. It's possible
to get good financial planning advice from a salesperson, but
bear in mind that such a salesperson has an inherent conflict
of interest - the policies which may make him the most money
may not be in your best interest. There are certainly some
situations where complex insurance products (ie. VULs, VAs,
etc) may make sense, but they are relatively few -- unless
you are asking someone whose primary job is selling those
things.
Before committing to a huge, long-term ongoing cost (ie. almost
any life insurance policy - especially those which build cash
value and have huge surrender charges and expensive and/or
mediocre investment options within them), you may want to
consult with a fee-only advisor who has nothing to gain from
whether you buy that expensive policy or not.
Or at a minimum, post here with a bit more detail (you don't
have to reveal any specific personal information).
--
Plain Bread alone for e-mail, thanks. The rest gets trashed.
No HTML in E-Mail! -- http://www.expita.com/nomime.html
Are you posting responses that are easy for others to follow?
http://www.greenend.org.uk/rjk/2000/06/14/quoting
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