Watch out for signs of a bad financial adviser

Dear Mr. Tan,

I am a fan of your blog. It is very informative and has tons of information.

Sometime this year,I started to watch a show on CNBC called "The Suze Orman Show".
Although it is targeted at American, I think some sections work for foreigners as well. Recently,she made a list of warning signs of a bad financial advisor and below is the website: http://www.cnbc.com/id/33914402?slide=1

Review of existing life policy

A young person sought my advice on her life insurance policy. Her father bought the policy for her many years ago and now wished to transfer the policy to her. The cash value is lower than the total premiums that were paid. She asked for my advice on whether to continue or terminate the policy. She asked the insurance company to give a projection of the future cash value, but they declined, citing that the future bonus is uncertain.

I advised her as follows:

a) Ask for the projected cash value for each of the next 10 years, based on the guidelines given in this FAQ.
b) Insist on getting a projection of the cash value, even though some part of the projected value is not guaranteed
c) To pass the projection to me, for a review.

It is the duty of the insurance company to give the requested information, so that the customer can review the existing policy and see if it is appropriate to continue the policy. I will ask a volunteer in FISCA to carry out the review for future cases, after the process has been establised.