Thank you so much. I learned lots of insurance knowledge from you guys these days. I read your article at least two times, thank you once again. -alice2003(秋韵) @卡尔加里华人论坛:卡尔加里枫下论坛 The Rolia Forum of Calgary

枫下家园 / 理财投资税务 / 金融系列系列之我们应该买什么样的保险产品 -naughtypig(正牌皮皮猪原始天尊); 2004-7-6 {8874} (#1791760@0)

我今后会专题讨论各种保险的详细条款和教育基金们的详细内容的，限于我的有限的输入速度，只能不定期地发表我的经验了！欢迎大家一起探讨和补充！ -naughtypig(正牌皮皮猪原始天尊); 2004-7-6 {277} (#1791769@0)
由于不能全部察看坛子上的各家论点，只能有限地看到部分和我观点接近的人，如frankbd,fox69,rollor，msj,白呼，guest, 快乐老家，当然还不尽相同！如果您们认为我的观点跟你的完全不同敬请谅解我没来得及仔细研究你们的其他帖子，希望我们一同探讨，指给新老移民们一条更正确的金融理财的康庄道路！

pretty good. much more professional than my points. i only have some obvservations as a customer. -frankbd(中外多少事都付笑谈中); 2004-7-6 (#1791779@0)

谢谢夸奖，希望能够一起探讨完善这些观点，给大家一些借鉴！ -naughtypig(正牌皮皮猪原始天尊); 2004-7-6 (#1791810@0)

up -111111(快乐老家); 2004-7-6 (#1791927@0)
讲得很透彻! 谢谢. 要是早两年读到你的文章, 我就不会在UL里损失两千多了. 顺便请教个问题: -fox69(fox); 2004-7-7 {164} (#1792034@0)
我买了UL一年多后take Premium Vacation, 让现有的投资部分支付以后的保费, 这样等投资部分耗尽后如果我不追加投资, 是不是保险合同就自动取消了? 还会有其他陷阱吗? 先谢谢了.

希望和大家共同探讨。你的理解应该是正确的，具体情况还要仔细阅读协议条款。 -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 (#1792140@0)

2 up -jameschen6(梦想农庄－－夏天太短); 2004-7-7 (#1792035@0)
写得不错，这样看来对我来说还是WL最合适。闲钱太多，投资渠道也多，本着分散投资的原则，买个WL花不了几个钱，虽然回报低点，好歹也算个投资，最大的好处是省得烦心。 -wallstreetkiller(华尔街杀手); 2004-7-7 (#1792054@0)

如果像你这样对钱无所谓。不过推荐你看本书："Making Money ABCs"，谈到WL时说： -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 {112} (#1792157@0)
保险应该是保护，一种消费，可是有很多人买它来当做一种投资，事实上，WL是你人生最大的财富强盗之一！

说的很正确！

不觉得啊,我买的是一个月一百元的WL,Guarantee 20年付清,保额50万,我觉得挺值得啊. 一百元也就够外面搓一顿的了.:) -wallstreetkiller(华尔街杀手); 2004-7-7 (#1792163@0)

Where are you hidding now? -wins(wins); 2004-7-7 (#1792170@0)

看你们玩得开心啊,我有时上来看看,但没那么多时间发帖. :) -wallstreetkiller(华尔街杀手); 2004-7-7 (#1792176@0)

It is so boring now after most people are hidding. If my job is not boring, I will be hidding too. -wins(wins); 2004-7-7 (#1792181@0)

我猜是不是Industrial Alliance? 我也希望你真的买到如你理解的那样的保险，同时推荐给我你的保险经纪，我也想买你这种保险！ -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 {278} (#1792192@0)
你要搞清楚以下几点：
1，你的50万WL部分是多少？Term部分是多少？Term到什么时候？是每年涨价的Term，还是10年renew的？
2，你的20年付清是如何付清？付清多长时间？是不是保证即使活到100岁也不用再交了？有些保险只是说20年以后你可以“有资格”用你的储蓄部分帮你付保费了，和付清是两码事儿！

看来你真的是专家,其实这份保险是我太太的,确实是Industrial Alliance的.20年是Guarentee的,因为这保险里有差不多$50就是付的是Guarentee的钱,20年不涨,付完就完事,唯一的缺点是赔偿金也不大涨,好象最多就是五十万出头点 -wallstreetkiller(华尔街杀手); 2004-7-7 {93} (#1792290@0)
你确实是专家,应该不会真的想知道我的经纪吧,不过你真的感兴趣,可以给我Mail,我会Mail给你他的INFO.

这个公司的把戏我知道了，那你就回去针对我提出的问题仔细看条款，看不懂的来问我！ -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 (#1792322@0)

多谢！有一个问题有点儿不清楚。你说25块钱就可以开始投资，请问具体如何操作？是跟你买TERM险的公司再开一个投资帐户吗？然后你可以从银行的账户里直接把余钱转去投资吗？ -daizi(littlefool); 2004-7-7 (#1792103@0)

投资的账户owner是自己，由你自己控制，转账在和你的银行户口之间进行，可以设置自动转账，可以设为RRSP或RESP。没有什么开户费，管理费等费用。 -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 {160} (#1792166@0)
Mutual Fund Dealer就是执行这种功能的，它的业务人员要求具有IFIC执照的！选用不同的投资公司可能会有一些不同！有的公司最低是50块，具体要根据你选定的公司自己的规定！

多谢，总算有点儿明白了。真是大虾啊! -daizi(littlefool); 2004-7-7 (#1792194@0)

谢谢，有机会共同探讨！ -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 (#1792236@0)

请问，那几家公司，你觉得开投资帐户比较好呢？另外，这种投资帐户跟TD WATERHOUSE 有什么区别吗？ -daizi(littlefool); 2004-7-7 (#1792196@0)

如果你的在TD的可投资资产超过15万，你就有机会被推荐特殊专业基金，否则属于self-direct级别，是他们的二等客户，只能有机会选择TD自己的MutualFund。 -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 (#1792212@0)

原来如此！也就是说我这样的小客户如果在某个投资公司开户，都只能买卖他们自己的MutualFund，所以选择一家好的投资公司非常重要。问题是哪家投资公司你认为比较好呢？找这样的投资公司是不是也要通过代理？ -daizi(littlefool); 2004-7-7 (#1792251@0)

特殊独立投资公司不直接做市场的，一般面对银行，保险公司等金融机构。银行和保险公司许多基金运营也采取挂靠托管方式，由这些投资公司管理。 -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 {392} (#1792298@0)
普遍来讲，由于获取IFIC牌照费用高，commission低，大多数金融机构的FinancialAdvisor只服务于大户，银行普遍要求你可投资额超过10万，保险公司经纪普遍要求你投资在保险里。有些broker也代理一些，不过只有大的MutualFundDealer才有机会给你更多的选择如：AIMTrimark, AGF, Mackenzie, Templeton, Fidelity, AIC。加拿大有5000种Mutual Fund，表现好的也就不到100支，大部分分布在这几家公司里！其他4000多种都是平庸的。

１。大户（超过１０万）平均能不能拿到５％的长期回报？如果能，将比投资房地产划算。２。这些大部分都是美国公司，AIC可能是加拿大的。其它还有好的吗？我的RRSP在Altamira，你对这家公司的看法如何？谢谢。 -23456789(大白呼); 2004-7-7 (#1792324@0)

是这么说，但是历史证明，投资最好多样化，可以基金和地产结合。我认识的MutualFund专家们也同时投资地产！ -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 {422} (#1792521@0)
这家公司运营34年历史，管理3.4billion资产，比我提到的那些家都小些。

AGF是加拿大最大1957年建立，管理31billion资产。
Trimark是总部在英国的老牌，现在在加拿大有900雇员，管理38billion资产。。。。
我提的那些家公司相对运营好些，资产大，所以雇员收入高，管理运营费用摊到每个dollar就相对低些。

资金大的fund，不可能过多focus在短线上，所以收益相对稳定。

我建议先多样化，可以多进行比较，找到真正适合自己的短,中,长期投资手段！

多谢多谢！另外，想多了解一些金融理财方面的知识，请问有没有什么好的入门书籍推荐？ -daizi(littlefool); 2004-7-7 (#1792374@0)

"The ABCs of Making Money", "Weathy barber", "The Truth of Money"这几本是我喜欢的！ -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 (#1792803@0)

非常感谢，我已经预订了The ABCs of Making Money。发现在加拿大这个地方，金融业太发达了，不下一点点功夫在个人理财上恐怕将来无钱养老。 -daizi(littlefool); 2004-7-7 (#1792906@0)

书到的时候注意阅读103,104,105页是关于保险的。200页making money 须知。有机会一同探讨！ -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 (#1792952@0)

多谢指点。我一定会认真拜读。 -daizi(littlefool); 2004-7-7 (#1793089@0)

可能是你对保险经纪的偏见，我遇到的经纪并没有拼命让你把钱都放在保险里，反而是让你量力而行 -autumnatan(jessy); 2004-7-9 (#1795509@0)

我们大多数人需要的是financial solution，真正适合我们的方法，不是量力而行地简单购买。 -naughtypig(正牌皮皮猪原始天尊); 2004-7-12 (#1798155@0)

那么买卖fund的手续费是多少? -zxcvb(朝天椒); 2004-7-7 (#1792198@0)

根据你买的Fund不同而不同， -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 {579} (#1792232@0)
1，如果你注定在1年内要用的钱，可以选用MoneyMarketFund，没有买卖费用！
2，如果是2年以后才用的钱，尤其是RRSP和RESP，没有太多投资经验或时间的人士及保守的人士，就可采用债券，平衡，蓝筹股的投资方式或组合。买入时没有费用，卖出时如不超过10%没有费用，超出部分根据储存长度收取一定费用，叫做DSC，储存越长费用越少，超过6年，就不收任何费用了。
3，银行有些基金是no load的，但是存在账户管理费，和限制交易次数的。回报相对一低些。

我计算超过两年，好的基金，DSC与收益相比可以忽略。毕竟我们投资注重的就是受益，天下是没有免费的午餐的！

4，有些Dealer也可以为大户开LowLoad的账户，不过很少见！

. -vega_lee(国庆过去,只好吃包子); 2004-7-7 (#1792151@0)

也要感谢您的大力支持的！ -naughtypig(正牌皮皮猪原始天尊); 2004-7-12 (#1798153@0)

专业。谢谢皮皮猪 -23456789(大白呼); 2004-7-7 (#1792177@0)

谢谢夸奖。你对很多金融产品了解的很全面透彻呢！不知你是看了哪些书？ -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 (#1792201@0)

说得很有道理，尽管对最后一个产品我知道得不多。另外，Fine print 是“小字条款”的意思，而不是“精美的保单”。 -rollor(Rollor); 2004-7-7 (#1792278@0)

谢谢指教，我马上更正！ -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 (#1792309@0)

嘿，皮皮猪埋头潜水很久了啊。// 打印出来了，回家和LD好好学习一下。有问题少不得要来问你啊。:-) -lazycow(阳光心情); 2004-7-7 (#1792468@0)

一直潜心研究这个，所以没时间上网阿，羡慕你呢！rollor 给我提的意见我做了更正，去专辑找最新版本。 -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 (#1792524@0)

Thank you so much. I learned lots of insurance knowledge from you guys these days. I read your article at least two times, thank you once again. -alice2003(秋韵); 2004-7-7 {1142} (#1792532@0)
本文发表在 rolia.net 枫下论坛My husband bought a UL almost two years ago, which is bundled with a Term10 together. I want to cancel the UL, I have the following concerns:

(1) If I cancel the UL, I have to cancel the Term10 at the same time?

(2) About Surrender Charge, his policy listed:
A surrender charge equal to the lesser of the total investment value or $2890.80 will apply if this contract is surrendered within 119 months of your policy date.

So far, he put around $2000 on UL, and more than $300 on Term10. If I cancel the contract, if just charge him our investment value(so far this amount is less than 2890.80), Is my understanding right?

(3) I think my husband disagrees with me, but this monthly payment is from our joint account. I can lapse this policy for failure to pay a premium beyond the grace period(31days). After doing this, will the contract terminated automatically? No more extra charge?

I totally agree that Insurance is only insurance, and investment is investment, don't mix them. I can use extra money to invest MFs, stocks which is clear for me, and don't put my money into the UL's black box.

Thank you in advance!更多精彩文章及讨论，请光临枫下论坛 rolia.net

很高兴对你有帮助。 -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 {143} (#1792790@0)
你的理解基本正确，我想你可以单独保留Term10。不过这不是我的建议，如果你没有真正理解BuyTermInvestDifference 的话，我不建议大家盲目cancle UL或WL。

皮皮猪是不是听过pre-american or primerica(不知拼写对不对) 的课,几年前曾被朋友"邀请"去那儿听过几次课, 观点和皮皮猪一模一样 -sunnyday365(蓝天白云); 2004-7-7 {231} (#1792549@0)
差一点儿取消自己的UL,follow him to buy term and invest difference. 两年后朋友退出,他的投资没有得到10-12%的回报,而且还是负数,反倒是他取消了他的TERM,据他说那里的TERM太贵了.很庆幸保留了UL, 一月80几刀,保30万.终生不变, 个人觉得非常值得.

我不太想评论你的朋友，因为他在去年收益28%的之前退缩了！投资的短期收益是不可预知的，长期统计收益和一年两年的收益是两回事儿！ -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 (#1792800@0)

不是每个和尚都懂佛的！ -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 (#1792806@0)
同意，并不是所有人investment defferent 就能得到很好的回报的，即使投资在最好的公司也有一定的风险，况且还要考虑税的问题 -autumnatan(jessy); 2004-7-9 (#1795493@0)

可以说钱放哪里都有风险的。Tax方面的事情，不是只有保险经纪才能解决的，有很多的方法！ -naughtypig(正牌皮皮猪原始天尊); 2004-7-12 (#1798152@0)

鼓掌！你的观点和我认识的一位教授（金融方向）的观点一样。请问你提到的“BUY TERM INVEST DIFFERENCE” 的公司是拿家？ -janeyeee(jane); 2004-7-7 (#1792616@0)

很多人明明知道，却并不真正实行这个正确理念。只有一家！ -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 (#1792959@0)

which one? please let me know the name of the company. thank you! -janeyeee(jane); 2004-7-7 (#1793328@0)

如果你们个人不能真正理解BuyTermInvestDifference的话，我不建议大家马上cancle你们现有的保险！ -naughtypig(正牌皮皮猪原始天尊); 2004-7-7 {34} (#1792966@0)
不管哪种保险都给被保人带来了安心！
说的不错，完全赞成，而且。。。 -jameschen6(梦想农庄－－夏天太短); 2004-7-8 {388} (#1793590@0)
说的不错，完全赞成，而且还有许多内部情报，看来你皮皮猪（咋叫这名？）要掀起又一泼人寿保险讨论新高潮。想当初，咱也领头掀起一个人寿保险讨论小破浪呢。
据我看书的体会，大部分人只需要TERM保险，投资最好另作，而且投就直接投在股票上，从长远看，回报率最高。当然需要懂些股市，而且不要有投机心态（否则是玩股票）。
因为各种FUND无非是股票及债桊的组合，而且还有管理费。当然，投资在FUND上，可能会省心。

感谢支持，但是大多数人没有时间去研究股票的，并且80%在股市的人也是亏的，你的投资观点不能给广大人民群众一个解决方案的。 -naughtypig(正牌皮皮猪原始天尊); 2004-7-8 (#1794188@0)

Yes, Yes, Altough I have positive view at investing in the stocks. I still have my dollars in fund because I have no time and ability to study the stocks -jameschen6(梦想农庄－－夏天太短); 2004-7-8 (#1794825@0)

已经买了10年的TERM该怎么办呢？我现在31岁，老公34岁。我们能不能改成30年TERM？ -cherrylee(cherry); 2004-7-9 (#1794927@0)

什么时候都可以，不过越早，可以锁定一个越低的保费。 -naughtypig(正牌皮皮猪原始天尊); 2004-7-12 (#1798151@0)

The Flaw of "Buy Term, Invest Difference"... -jeffrey815(Smartiecat); 2004-7-9 {3243} (#1795418@0)
本文发表在 rolia.net 枫下论坛Comparing "Buy term and invest difference" with whole life products are just non-sense.

Whole life is completely risk free, the return is risk free, the premium is guaranteed, and the payoff is guaranteed. If you have to view it, you can see whole life as a GIC.

What about "Buy term and invest difference"? The return is not guaranteed. There is a risk component built in. Most of you agree that index fund has superior return in history. Then why don't we all invest money in mutual funds? But why is GIC still a big market?

In investing, you cannot just compare whole life and GIC products against index fund or any other fund you mentioned. One is risk-free guaranteed product and the other one is a risky product. It's just like you are comparing GIC and index fund. Even a moron knows that index fund has a higher return than GIC. But it comes with risk.

Many people, without advanced financial knowledge, often ignore many risks in investment. However, from a portfolio management view, especially from a highly regulated insurance company's portfolio management view, investing in index fund and stock market comes with a much higher cost. We have to hold extra 15% of capitals (MCCSR requirements for those who have heard of it) in investing in stock market. But only 0.5% is needed in safe product like Gov't bond, with similar return to GIC. What that means if we are to invest 100 dollars in stock market or fund related to stock market, we have to hold 15 dollars in reserve to cover various risk associated with them. So the cost of capital (or internal rate of return) for investing in stock market is much higher than elsewhere. It is one reason why insurance companies have low exposure to stock market (<10%). Eg, if your 100 dollar growth to 105 dollar, you need to discounted as (105+15)/(100+15). This is not just for insurance company. The banks have similar requirements as well.

What I meant is you need to have a balanced portfolio. Some with high risk, some with medium, and some with guaranteed. Blindly follow "Buy term, invest difference" is just flaw. So several benefits of whole life are
1. It forced you to save.
2. It is tax exempt (BIG BENEFIT for those earned 65K and above).
3. It actually has the highest benefit payout ratio.
4. Its guaranteed rate is lower than comparable GIC and gov't bonds are because the insurers need to cover the lost from early death (Ie, mortality risk, what happen if you died just one year from now?)

For those who think agents get more commission in whole life and UL is just a mistake. It it true that in dollar term per contract that they get more commission in selling a whole life policy. But it is false in percentage term. In fact, the commission is the highest in percentage term for term insurance since it is quite cheap that the insurers have to give more incentive to the agents to sell. To give you a insider view, the benefit payout ratio (loss ratio, the amount of benefits payout over premium collected in percentage term) in whole life, in some company, is 40% higher than term life. And in fact, in all the traditional life insurance products, term life carries the lowest loss ratio and the highest benefit/expense ratio.更多精彩文章及讨论，请光临枫下论坛 rolia.net

我给你的答案见内！ -naughtypig(正牌皮皮猪原始天尊); 2004-7-12 {2000} (#1798149@0)
本文发表在 rolia.net 枫下论坛In investing, you cannot just compare whole life and GIC products against index fund or any other fund you mentioned.
拜托，我绝对不支持投index fund这样平庸的基金的！这种平庸的基金就是大多数保险经纪所了解的基金。我过些时间写个专门关于基金的专题来解释的~！

We have to hold extra 15% of capitals (MCCSR requirements for those who have heard of it) in investing in stock market. The banks have similar requirements as well.
可是MutualFund公司不用！

Many people, without advanced financial knowledge, often ignore many risks in investment.
大错特错，普通人最关心的就是投资的risk了！相对来说，富人的投资风险相对要高很多，我认识的富人没有投GIC的，即使有的富人没有投资知识，也会有专家帮他们的。

What I meant is you need to have a balanced portfolio.
你说的不错，不过Mutual Fund也存在低、中风险的投资方向，我还可以自行选择更放心。哪怕我就简单follow保险公司的投资方向好了，省了手续费了！

1. It forced you to save.
我说了，没有自治能力去储蓄的人，适合这个。但是我们大多数中国移民都有储蓄的好习惯的，这个不是问题。

2. It is tax exempt (BIG BENEFIT for those earned 65K and above).
高收入的人，首先应该买满RRSP，把实实在在的政府的benefit先拿在手里才是最重要的！保险公司不是慈善事业，不会大量发放benefit的，那些都是要cost客户们的money的。所以Term可以省却很多没有必要花的钱。

3. It actually has the highest benefit payout ratio.
回答见最后倒数第二段。

4. Its guaranteed rate is lower than comparable GIC and gov't bonds are because the insurers need to cover the lost from early death (Ie, mortality risk, what happen if you died just one year from now?)
既然承认收益低，还有什么好说的。什么叫Buy Term?早期的死亡收益有Term保险呢，同时还有储蓄。可是放保险里的储蓄不管哪年死，都是被保险公司吃掉了。

term life carries the lowest loss ratio and the highest benefit/expense ratio.
所以term便宜WL贵。但是仔细想想，保险公司在做慈善事业么！你的所谓最终赔付是cost我们的money的。我把省下来的钱绕过保险公司直接投资会有更好的收益的！
你后面的话都是空洞的陈诉，不知你自己具体做了多少计算？更多精彩文章及讨论，请光临枫下论坛 rolia.net

Geez... -jeffrey815(Smartiecat); 2004-7-14 {3742} (#1801965@0)
本文发表在 rolia.net 枫下论坛In investing, you cannot just compare whole life and GIC products against index fund or any other fund you mentioned.
拜托，我绝对不支持投index fund这样平庸的基金的！这种平庸的基金就是大多数保险经纪所了解的基金。我过些时间写个专门关于基金的专题来解释的~!
"DO YOU KNOW THE CONCEPT OF RISK? YOU THINK I DON'T UNDERSTAND SMALL-MARKET FUND, EQUITY FUND, BOND FUND, etc?"

We have to hold extra 15% of capitals (MCCSR requirements for those who have heard of it) in investing in stock market. The banks have similar requirements as well.
可是MutualFund公司不用！
"YOU HAVE TO UNDERSTAND MY POINT. WHAT I MEANT IS YOU CANNOT SIMPLY LOOK AT THE RETURN. THIS MCCSR MEASURE PROVIDE SOME SENSE OF RISK ADJUSTED RETURN! THE BANK HAS SIMILAR REQUIREMENT CALLED VAR."

Many people, without advanced financial knowledge, often ignore many risks in investment.
大错特错，普通人最关心的就是投资的risk了！相对来说，富人的投资风险相对要高很多，我认识的富人没有投GIC的，即使有的富人没有投资知识，也会有专家帮他们的。
"THEY ARE RICH. THEY CAN AFFORD TO LOSS. IF I AM RICH, I AM NOT GOING TO DUMB ALL MY MONEY IN GICS. DO YOU KNOW WHAT IS MARGINAL UTILITY? YOU THINK ONE DOLLAR OF LOSS MEANS THE SAME TO A PERSON MAKING 50K A YEAR AND A PERSON MAKING 5MILLION A YEAR?"

What I meant is you need to have a balanced portfolio.
你说的不错，不过Mutual Fund也存在低、中风险的投资方向，我还可以自行选择更放心。哪怕我就简单follow保险公司的投资方向好了，省了手续费了！
"DUH. LOW~MID RISK IS STILL RISK".

1. It forced you to save.
我说了，没有自治能力去储蓄的人，适合这个。但是我们大多数中国移民都有储蓄的好习惯的，这个不是问题。
"I DID NOT RESTATE YOUR POINT. THIS IS JUST FROM GENERAL INSURANCE POINT OF VIEW".

2. It is tax exempt (BIG BENEFIT for those earned 65K and above).
高收入的人，首先应该买满RRSP，把实实在在的政府的benefit先拿在手里才是最重要的！保险公司不是慈善事业，不会大量发放benefit的，那些都是要cost客户们的money的。所以Term可以省却很多没有必要花的钱。
"OF COURSE MY POINT IS AFTER RRSP."

3. It actually has the highest benefit payout ratio.
回答见最后倒数第二段。

4. Its guaranteed rate is lower than comparable GIC and gov't bonds are because the insurers need to cover the lost from early death (Ie, mortality risk, what happen if you died just one year from now?)
既然承认收益低，还有什么好说的。什么叫Buy Term?早期的死亡收益有Term保险呢，同时还有储蓄。可是放保险里的储蓄不管哪年死，都是被保险公司吃掉了。
"DO YOU EVEN UNDERSTAND THE SENTENSE? ITS RATE IS LOWER BECAUSE IT HAS A LIFE INSURANCE COMPONENT IN EARLY YEAR. EG. IF YOU INVEST 100 DOLLARS IN GIC EVERY MONTH, WHAT HAPPEN YOU DIE NEXT MONTH? YOU GET 100! WHAT IF IT'S WHOLE LIFE? YOU GET 100,000. THAT'S WHY ITS RATE GUARANTEE IS LOWER SIMPLEY BECAUSE THERE ARE MORE RISKS! "

term life carries the lowest loss ratio and the highest benefit/expense ratio.
所以term便宜WL贵。但是仔细想想，保险公司在做慈善事业么！你的所谓最终赔付是cost我们的money的。我把省下来的钱绕过保险公司直接投资会有更好的收益的！
"YOU DON'T EVEN UNDERSTAND WHAT LOSS RATIO IS. HIGH LOSS RATIO IS GOOD. LOW LOSS RATIO IS BAD."

My advice to you is you do not really understand how insurance company functions and how different products are designed to suit different consumers. If you really need to make a valid argument, you have to get more advance knowledge and principle of insurance. I advice you to read some insurance related books. Even for you investment knowledge, you are a bit naive because you ignore too much factors in considering returns. If you study CFA material or other more advance finance course relating to portfolio management instead of simple personal finance course, your perception about "investing" will be totally different.更多精彩文章及讨论，请光临枫下论坛 rolia.net

@Calgary

Thank you so much. I learned lots of insurance knowledge from you guys these days. I read your article at least two times, thank you once again.

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