With a plethora of insurance products available in the market, it is good that the Monetary Authority of Singapore is urging transparency when insurers market their products to consumers ("Life insurers urged to improve service, transparency levels"; March 10).

Products are becoming more and more generic, and marketing becomes a very critical activity for insurers to present their products, differentiate these from those of their competition, and make the products appealing to consumers so they will take immediate action.

There is also a lot fine print hidden in the terms and conditions which consumers might not be aware of. A proliferation of these activities could lead to consumers making impulse purchases when approached, even if they were not seeking to buy insurance products.

Consumers must play their part and do their due diligence before purchasing these products.

First, they must shop around and compare various offers to have a better gauge of the products in the market. This will allow them to ask the financial advisers the right questions before buying.

Second, they must understand their own current financial health and whether they have the means to make monthly payments.

Third, they must disclose all past conditions up front to reduce the risk of non-payout.

Rohith Murthy