Bro before i said my concern look AROUND YOU...Father, Mother, Brother, Sister, Aunt, Cousin,Grandpa, Grandmon....etc..,THOSE PEOPLE THAT HAVE ILLNESS
WITH THEM..No OFFENCE...okok
none taken la bro lol..
I understand your point of view, in deed you are a very responsible chap kudos with that..
Not many people have your thinking in terms of transferring risk for a small portion of their income.
It is respectable and commendable i must say that you understand this point.
However, there is a limit of protection that you buy with money before it becomes a bit too much.
I would rather you use the money, come up with a war chest and make it work harder. You can start with simple ILP stuff with single premium cpf first to get a sense of investing, attach a CI/ECC rider to it and let it pay by itself - top up when you feel that you have extra..
When the time comes you can draw out the bonus and use it to pamper your love ones..
Although i understand kiasi but also must enjoy abit mah lol.. don't so paranoid not good for health bro.
Im not recommending based upon a commission earn by an agent because single premium CPF is only 1.76%.. I just don't like the idea of forced savings that can see cannot touch and still lose 2.5% each year.. lol
Think of it as a stored value credit where you might lose your income though many people think investment and protection should be separate but in my view.. most people think about now when they are actively earning a positive income to supplement their protection however when **** hits the fan and retrenchment starts.. at least you can go on a premium holiday and still get covered with your stored value which you could prepay in the good days with your bonus..
plus the value grows over time or you can just do a fund switch to a more profitable fund when the time calls for it.
Please go and read up here -
http://www.myinvestmentforum.com/ca...-use-ilp-for-investment-or-savings-t4005.html
