Charlie: ur calculation is wrong as term premium assumption is inaccurate -- comparefirst.sg doesnt have a 99yr term, ie 80-year term.
Sent from ew line is so sloooow using GAGT
Sent from ew line is so sloooow using GAGT
Charlie: ur calculation is wrong as term premium assumption is inaccurate -- comparefirst.sg doesnt have a 99yr term, ie 80-year term.
Hi Chopra,
My calculation compares different lengths of term life insurance and as I've stated in my earlier post, buying term insurance beyond 40 years does not make sense as your savings from the "invest the rest" would have already exceeded the $30,000 sum assured.
In other words, after 40 years you do not need the insurance anymore - if you pass away the death benefit is the savings you have built up!
Charlie: qualitatively agree. But quantitatively ur calculation is v inaccurate .
Just for completeness since you insist, here are what the numbers would look like if you do BTIR for 85 years (premium quoted is also on CompareFirst and provides coverage to age 97 for a 12 year old male):
85-Year Term - $76.2/yr (Zurich - $2.54 per thousand sum assured)
The difference in the whole life premium of $338.4 quoted in the below post and the above term life premiums result in annual savings of:
85-Year Term Savings - $262/yr
If you compound the above savings over the same length of time as the term coverage, the future value is as follows:
Based on 5% annual return:
85-Yr Term - $342,785
I'll leave it to you to test out alternative return scenarios and investment time horizons.
Correct me if I'm wrong, from what I understand, for whole life, the moment you want to take the money / need the money for something, then the coverage will lapse right?
If yes, then this defeat the purpose of having insurance in the first place...
hahaha, my dear, if u do that, u kill your own policy, u need to learn or know how to manage your finances, hahaha
The thing is most agent selling whole life is dangling the numbers on the so called estimated surrender value. And my friend who bought that saying they are buying because of the promise of there is some money in it in case they need it in the future. So I feel that the whole mindset about this whole life is wrong.
The thing is most agent selling whole life is dangling the numbers on the so called estimated surrender value. And my friend who bought that saying they are buying because of the promise of there is some money in it in case they need it in the future. So I feel that the whole mindset about this whole life is wrong.
just read the following article. it addresses your concerns.
http://www.providend.com/the-case-for-term-insurance/
one more thing, don't believe that hahaha man. from his tone, you know he is a complete troll.
The thing is most agent selling whole life is dangling the numbers on the so called estimated surrender value. And my friend who bought that saying they are buying because of the promise of there is some money in it in case they need it in the future. So I feel that the whole mindset about this whole life is wrong.
the article u posted is from who? who is selling what? they are all salesmen u know, use Goh's name to advertise, so what, hahaha
wah, read this, one FA talking liao
http://forums.hardwarezone.com.sg/96719400-post23.html
moi will not listen to someone (S) who dun practice what he preach, hahaha, who lives far far away, hahaha
by the way, i know that guy from providend. he is a reputable advisor and contributor from the now defunct sgfunds forum back in 2000s.
why would he advocate a lower commission term insurance if he can sell WL policies at higher commissions?
obviously his priority is to serve the best interest of his clients. ie providing higher coverage at lower costs. commission must be his last priority.
hahaha, u are a typical pap, resort to discredit when u lose in a discussion, hahaha, u are not being objective, hahaha
come share your BTIR with use chiu practitioner, hahaha, dun beat around the bush yourself, hahaha
now you associate me with pap?
i am just a smart investor who can do better than the fund managers and some of the retail investors out there. my strategy is just to buy and hold shares for mid to long term. <10 trades a month.
but my performance is unlikely to beat someone who can time the market. someone who can time the market ideally should make >100% returns per annum. if not, he is better off not engaging in such risky transactions.
hahaha, so u dun practice or have BTIR, hahaha, what a joke, hahaha
not sure what you are talking about. dont make silly assumptions.
i dont have a single WL/IP. all insurance are term with coverage up to 500k. covered by H&S with 0 deductibles/co-insurance payments.