AIA Guaranteed Protect Plus

[zerotimesone]

Hi bros, anyone familiar with this plan?

I'm currently 25y/o male, looking at $100,000 coverage with 2x multiplier. Now got promotion leh 10% discount for first 2 years of premium, so totalling to about $136.72/mth with $100,000 early CI coverage also. Thought it wasn't too bad (but didnt compare with other plans la I just took it )

 

[limster]

Thought it wasn't too bad (but didnt compare with other plans la I just took it )

Didn't even bother to compare with other AIA plans or with plans with other insurers?

ILPs are suitable for certain types of people. From what you have posted, I think ILP is very suitable for you.

 

[MaoZeDuo]

take le then cum and ask...

 

[reinphd]

damn...

Please spread these words by gurus around

" Buy Term and Invest the Rest"

Term == Term Insurance

Invest the Rest == Open a trading account and buy ETFs yourself

 

[anfielder]

Didn't even bother to compare with other AIA plans or with plans with other insurers?

ILPs are suitable for certain types of people. From what you have posted, I think ILP is very suitable for you.

This one seems to be an endowment rather than an ILP?

 

[Perisher]

What's your purpose? Savings or investing?
What's your time horizon? less than 8-10 years?
If it's lesser than 8-10 years, and requires capital guarantee then perhaps try getting bonds or OCBC 360, both much more liquid and capital guaranteed at about 2-3.65% a year.

If looking for a longer term investment, 8-10++ years, BTIR(buy term, invest the rest) and DCA(dollar cost averaging) into STI ETF+bond.

Just my 2¢

 

[goldsilvercity]

take le then cum and ask...

if i am not wrong, he has many many days to cancel the policy with no loss.

he need to wait till the policy document arrives, then the 14days free-look policy starts from that day.
within this period, if he changes his mind, he can cancel the policy and has no losses, except those loss that is due to market.

 

[MikeZhang]

The policy is a limited pay whole life. So should be alright for him to continue.

 

[MaoZeDuo]

if i am not wrong, he has many many days to cancel the policy with no loss.

he need to wait till the policy document arrives, then the 14days free-look policy starts from that day.
within this period, if he changes his mind, he can cancel the policy and has no losses, except those loss that is due to market.

Correct...

 

[zerotimesone]

Hi guys, thanks for your comments. I'm very new to insurance and not very well-read also.. Agent (mom's friend) spoke to me and recommended this plan based on my current needs and status la. So trusted her lo.

Currently I alrd have term with Aviva, ($200,000 coverage + $200,000 CI). She is aware of this and recommended me to take up this AIA Guaranteed Protect Plus la. I just wanted to hear from you all your thoughts on this plan! To me it looks like it's a pretty good deal, paying only 20 years premium and getting whole life coverage.

 

[zerotimesone]

The policy is a limited pay whole life. So should be alright for him to continue.

Hey Mike thanks ar. What are the cons of limited pay whole life, if any?

 

[MaoZeDuo]

Hey Mike thanks ar. What are the cons of limited pay whole life, if any?

High commitment
Long commitment
Low yield

 

[shaggerinos]

Hi guys, thanks for your comments. I'm very new to insurance and not very well-read also.. Agent (mom's friend) spoke to me and recommended this plan based on my current needs and status la. So trusted her lo.

Currently I alrd have term with Aviva, ($200,000 coverage + $200,000 CI). She is aware of this and recommended me to take up this AIA Guaranteed Protect Plus la. I just wanted to hear from you all your thoughts on this plan! To me it looks like it's a pretty good deal, paying only 20 years premium and getting whole life coverage.

my agent recommended me this AIA guaranteed protect plus plan when i was looking for endowment plan. so this plan has $100k early CI coverage? what do you mean by 2x multiplier?

 

[JuniorLion]

my agent recommended me this AIA guaranteed protect plus plan when i was looking for endowment plan. so this plan has $100k early CI coverage? what do you mean by 2x multiplier?

2x multiplier means that the payout will be 2 times the "coverage" amount if something happens to you before a specified age, usually 65 or 70.

For example, if your coverage is 100k and if something happens to you before 65 (or 70), you get 200k instead. After 65 (or 70), it reverts back to 100k.

This type of plan is very expensive.

 

[mSnooze]

my agent recommended me this AIA guaranteed protect plus plan when i was looking for endowment plan. so this plan has $100k early CI coverage? what do you mean by 2x multiplier?

This is a Whole Life plan, why when you want endowment but he recommend a whole life instead ?

 

[Shion]

my agent recommended me this AIA guaranteed protect plus plan when i was looking for endowment plan. so this plan has $100k early CI coverage? what do you mean by 2x multiplier?

You better avoid the agent

You ask for A, the agent gives B

 

[laksa2003]

dig ah dig....

 

[a4973]

hi there, i have a pdf of a latest BI for AIA GUARANTEED PROTECT PLUS that i would like to consult with the experts here may i know how do i attach the pdf here?
thanks

 

[winthony]

hi there, i have a pdf of a latest BI for AIA GUARANTEED PROTECT PLUS that i would like to consult with the experts here may i know how do i attach the pdf here?
thanks

you have to upload it to a site or you can screenshot them and upload it as image.

if you wish, you can pm the files to me if they are sensitive

 

[a4973]

you have to upload it to a site or you can screenshot them and upload it as image.

if you wish, you can pm the files to me if they are sensitive

thanks for the help explaining the method.

hi peeps, please take a look at the attached BI for my 12 yo & provide comments & guidance as i am unsure if i should continue with the policy.
many thanks

https://pdfhost.io/v/canXxTig_eCarepdf.pdf