Advice on surrendering axa wealth accelerate

[jcite89]

Hi all,

I will like to seek advice if I shld continue or stop my axa policy ilp wealth accelerate.

I am only 11 months into this ilp and paid $700 per month. I was initially attracted by the high bonus but the platform fee and other fees which came out to around 4.5% annually is making me doubt my decision. This policy is meant to be investment.

I already had hospitalization plan and term life insurance.

 

[xtwis7]

Your 11 months worth of premiums will be forfeited because within the first year, there’s no cash value.

Hi all,

I will like to seek advice if I shld continue or stop my axa policy ilp wealth accelerate.

I am only 11 months into this ilp and paid $700 per month. I was initially attracted by the high bonus but the platform fee and other fees which came out to around 4.5% annually is making me doubt my decision. This policy is meant to be investment.

I already had hospitalization plan and term life insurance.

 

[jcite89]

Yes, I understood that my premium will be forfeited. Will it be better to cut the loss now.

 

[tangent314]

Yes, kill the plan and make sure you get it done before the next premium is up. Although you lose whatever you put in, you will end up losing even more if you continue until the (10 years?) term is up. Unfortunately you can only treat this as an expensive lesson.