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Thinking of cancelling AIA Smart Rewards Saver

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Old 23-11-2017, 09:40 PM   #1
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Thinking of cancelling AIA Smart Rewards Saver

I took up Smart Rewards Saver last year, but now I am starting to regret it. Want to consult if there is any consequences if I cancel it after just 1 year?

I read the FAQ it says:
Yes. You may cancel the plan by writing to us within 14 days from the date you receive your policy document (free-look period) and receive a refund of your premium paid without interest (less any expenses incurred for your medical examination).
https://www.aia.com.sg/content/dam/s...ward-saver.pdf

Means I am out of the free look period right? Now I want to cancel can I get a full refund of the money I poured in?
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Last edited by VoteWisely; 23-11-2017 at 09:46 PM..
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Old 23-11-2017, 10:06 PM   #2
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I took up Smart Rewards Saver last year, but now I am starting to regret it. Want to consult if there is any consequences if I cancel it after just 1 year?

I read the FAQ it says:

https://www.aia.com.sg/content/dam/s...ward-saver.pdf

Means I am out of the free look period right? Now I want to cancel can I get a full refund of the money I poured in?
You can cancel, most probably get nothing back.
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Old 23-11-2017, 10:15 PM   #3
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You can cancel, most probably get nothing back.
you mean I cant get the money I poured in? That means I will be making a loss of several thousands $?
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Old 23-11-2017, 10:39 PM   #4
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Voted so wisely. How come so careless on insurance?
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Old 23-11-2017, 10:46 PM   #5
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Insurance is insurance

Investment is investment

Learn the difference and do not mix them up
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Old 24-11-2017, 06:53 AM   #6
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I also have this.. I just try to use it like part of my bond allocation, targeting 3-4% returns over the Long run.

How much did you put in?
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Old 24-11-2017, 03:39 PM   #7
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Look at your benefit illustration table for the surrender value. For the first year, its usually getting nothing or just a super small sum back. You do realize the agent & company has to earn the commission from selling you a plan and the bulk of that comes from the first year premium. Its illogical to want to get back everything or even a big chunk of it.
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