Another ILP thread

[qqWWqq]

Hi Guys ,

Been starting to read up recently and would like to seek the pros advice on my ILP.

I bought a ILP about 8 years ago (currently about 35 yo) and have pretty much left it since then (rebalance about 3 times on advice of agent).

Monthly premium is about 125 , providing terminal and death benefit of 60K.Premium paid to date should be about 8 * 12 * 125 = 12k

Check with NTUC that if i go with term insurance with simliar coverage (min 100k) it will cost me about $68 per month.

The surrender value now is about 9.5K.

As of now it seems that the ILP is much better than going term as based on current value my per month insurance over last 8 years is about 26$ per month.

Should i cancel ILP and go with term or just keep it ?

 

[akwl88]

U want protection or investment?

 

[TabascoSauce]

100k term insurance $68?

my saf term insurance only cost $23.42
250k death
100k accident
100k critical illness
100k early critical illness.

 

[Shion]

The insurance charges for ILP will increase as you go older

 

[Maeda_Toshiie]

Hi Guys ,

Been starting to read up recently and would like to seek the pros advice on my ILP.

I bought a ILP about 8 years ago (currently about 35 yo) and have pretty much left it since then (rebalance about 3 times on advice of agent).

Monthly premium is about 125 , providing terminal and death benefit of 60K.Premium paid to date should be about 8 * 12 * 125 = 12k

Check with NTUC that if i go with term insurance with simliar coverage (min 100k) it will cost me about $68 per month.

The surrender value now is about 9.5K.

As of now it seems that the ILP is much better than going term as based on current value my per month insurance over last 8 years is about 26$ per month.

Should i cancel ILP and go with term or just keep it ?

How can the term plan be so expensive?

 

[Shiny Things]

Check with NTUC that if i go with term insurance with simliar coverage (min 100k) it will cost me about $68 per month.

The going rate for $100k of term-to-age-65 coverage for a 35yo non-smoker is about $12 a month. Rock on over to CompareFirst and check for yourself.

 

[qazamy]

100k term insurance $68?

my saf term insurance only cost $23.42
250k death
100k accident
100k critical illness
100k early critical illness.

Are the CI coverage from adding riders (Living Care & Living Care Plus)?