Avoid buying life insurance on the street

Dear Mr. Tan,
I need your advice. I was hard sell into buying an insurance policy outside a MRT station. The agent was hard sell, giving me a lot of attractions of the product, such as cash back and unemployment benefit. When I returned home, my family told me that this policy gives a bad return. What can I do?

REPLY
You can write to cancel the policy within 14 days and ask for a full refund of the premium.

Do not buy any insurance or financial product from sales people on the street. As a life insurance policy is a long term commitment, you need to understand it clearly. You cannot get a clear picture by listening to a presentation on the street.

Lesson: Do not buy a life insurance policy on the street