Chartered Financial Consultant® (ChFC®)
Since 1982, the Chartered Financial Consultant has remained the most extensive education available for professionals seeking a designation in financial planning. More than 41,000 individuals have attained this distinction, enabling them to effectively apply a comprehensive financial planning process to their clients’ needs.
Individuals with the ChFC designation have demonstrated their vast and thorough knowledge of financial planning. The ChFC program is administered by the American College. In addition to successful completion of an exam on areas of financial planning, including income tax, insurance, investment and estate planning, candidates are required to have a minimum of three years experience in a financial industry position.
Like those with the CFP designation, professionals who hold the ChFC charter help individuals analyze their financial situations and goals.
Individuals with the ChFC designation have demonstrated their vast and thorough knowledge of financial planning. The ChFC program is administered by the American College. In addition to successful completion of an exam on areas of financial planning, including income tax, insurance, investment and estate planning, candidates are required to have a minimum of three years experience in a financial industry position.
Like those with the CFP designation, professionals who hold the ChFC charter help individuals analyze their financial situations and goals.
By Debbie Too
Bandar Seri Begawan - Personal insurance policies have yet to increase their attractiveness to Bruneians, bankers said, noting that many who do enrol in their programmes drop out after a couple of years.
Only five of every 10 people aged 20 to 30 years old who buy a life insurance policy sustain their regular payments for a couple of years, said Elizabeth Sim, a senior personal banker at HSBC in Brunei.
Only three manage to commit to keeping the policy for its entire payment cycle, she said in an interview with The Brunei Times.
AIA Insurance, on the other hand, is seeing a higher percentage of people completing their insurance schemes, eight out of every 10, according top agency Betty Yeo.
"They are afraid of losing their income or they understand that insurance is a form of protection that helps secure them in times of sudden disability or loss of income," she explained in an interview.
"Insurance policies are a form of savings that cover health, disability and loss of income, as well as paying out the family members upon death," said Betty.
"Some people have to consider that when they take out a personal insurance, they have to think what happens when they are 40 years old with no work? At least when they take out an insurance policy when they were younger, the insurance would help them cover their loss of income."
Elizabeth said that it is better to start an insurance policy when the individual is younger because the premiums are much cheaper than when one hits 30 years and above.
"The concern for financial stability only happens when the individual has started to work between the ages 20 and 30 years old. Anyone younger has no concern or worry for finances," said Betty.
"It is better to take out an insurance policy when you're younger to take advantage of the cheaper premiums, instead of starting when you're older and thinking back about why you never started one sooner," said Elizabeth.
Asked about the necessity of having a life insurance policy, Elizabeth said: "There is no easy yes or no answer. The individual themselves will be able to see it.” -- Courtesy of The Brunei Times
Bandar Seri Begawan - Personal insurance policies have yet to increase their attractiveness to Bruneians, bankers said, noting that many who do enrol in their programmes drop out after a couple of years.
Only five of every 10 people aged 20 to 30 years old who buy a life insurance policy sustain their regular payments for a couple of years, said Elizabeth Sim, a senior personal banker at HSBC in Brunei.
Only three manage to commit to keeping the policy for its entire payment cycle, she said in an interview with The Brunei Times.
AIA Insurance, on the other hand, is seeing a higher percentage of people completing their insurance schemes, eight out of every 10, according top agency Betty Yeo.
"They are afraid of losing their income or they understand that insurance is a form of protection that helps secure them in times of sudden disability or loss of income," she explained in an interview.
"Insurance policies are a form of savings that cover health, disability and loss of income, as well as paying out the family members upon death," said Betty.
"Some people have to consider that when they take out a personal insurance, they have to think what happens when they are 40 years old with no work? At least when they take out an insurance policy when they were younger, the insurance would help them cover their loss of income."
Elizabeth said that it is better to start an insurance policy when the individual is younger because the premiums are much cheaper than when one hits 30 years and above.
"The concern for financial stability only happens when the individual has started to work between the ages 20 and 30 years old. Anyone younger has no concern or worry for finances," said Betty.
"It is better to take out an insurance policy when you're younger to take advantage of the cheaper premiums, instead of starting when you're older and thinking back about why you never started one sooner," said Elizabeth.
Asked about the necessity of having a life insurance policy, Elizabeth said: "There is no easy yes or no answer. The individual themselves will be able to see it.” -- Courtesy of The Brunei Times
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