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What to do with NTUC Living Policy on reaching 60

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Old 06-11-2018, 10:38 AM   #1
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What to do with NTUC Living Policy on reaching 60

Hi,

Any one has experience on what to do with a NTUC Living Policy on reaching 60 years old?. Whether better to convert to annuity or continue to pay premium?
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Old 06-11-2018, 11:38 AM   #2
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I think the decisions will depend on but not limited to the following questions:

1) What are the kind of returns you were getting with this policy recently? Were they attractive? Don't look at returns 10 to 20 years ago.
2) Do you have other better investment options?
3) Do you have money to pay for your premiums?
4) Do you need the payouts to fund retirement?
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Old 06-11-2018, 11:54 AM   #3
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Believe old Living policy is not limited pay. Keen to know too.

Have 2 such policies.
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Old 06-11-2018, 11:55 AM   #4
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Hi,

Any one has experience on what to do with a NTUC Living Policy on reaching 60 years old?. Whether better to convert to annuity or continue to pay premium?
Do u have any other policies that cover CI, if not u should continue to pay premium to give u protection for CI (critical illness).

How long have u been paying premium, amt of yearly/mthly premium, current surrender value? Use this info to calculate your returns todate.

My policy gave me more than 7% pa bonus last year, so it is better to continue paying premium than convert to annuity (annuity pay less). Mine have to pay until 85 years then it will cover for life.

If u still can afford to pay the premium and dun need the funds, it is better to keep, treat it as a regular savings plan which provides good returns. Surrender only when u need the money and no longer need the CI protection. If u cannot afford to pay the premium but still need the CI protection, u can convert it to paid up.

Read another user experience here

Last edited by royalmix; 06-11-2018 at 12:33 PM..
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Old 06-11-2018, 03:41 PM   #5
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Do u have any other policies that cover CI, if not u should continue to pay premium to give u protection for CI (critical illness).

How long have u been paying premium, amt of yearly/mthly premium, current surrender value? Use this info to calculate your returns todate.

My policy gave me more than 7% pa bonus last year, so it is better to continue paying premium than convert to annuity (annuity pay less). Mine have to pay until 85 years then it will cover for life.

If u still can afford to pay the premium and dun need the funds, it is better to keep, treat it as a regular savings plan which provides good returns. Surrender only when u need the money and no longer need the CI protection. If u cannot afford to pay the premium but still need the CI protection, u can convert it to paid up.

Read another user experience here
How old is your policy?
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Old 07-11-2018, 10:45 PM   #6
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I have this policy for 17 years
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Old 07-11-2018, 10:58 PM   #7
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I think the decisions will depend on but not limited to the following questions:

1) What are the kind of returns you were getting with this policy recently? Were they attractive? Don't look at returns 10 to 20 years ago.
2) Do you have other better investment options?
3) Do you have money to pay for your premiums?
4) Do you need the payouts to fund retirement?
1)How to calculate the return?
2)I have another 2 life policy beside this policy.
4)I need the annuity for my retirement as I am not working and no dependents.
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Old 07-11-2018, 11:14 PM   #8
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what about your CPF situation ? have you met FRS ?

if you surrender the policy & get lump sum, can consider topping up CPF if FRS is not met. CPF Life would probably give higher payouts than private annuities

if u can post an image of your policy and the annuity's benefit illustration, folks here can help compute the returns
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Old 07-11-2018, 11:17 PM   #9
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I have this policy for 17 years
I have 2 Living polices.

One about 20 years and the other 17 to 18 years. My returns should be v close to yours.
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