Are ILPs a no no?

[Ev0d3vil]

Even if the plan is just pure investment? My concern is the funds are locked in very long sia, if i buy S&P 500 isnt it better ?

 

[Ayuready?]

Yes, they are a no no

 

[twinbaby]

You will be lock in for the minimum of 10 years.

 

[Shion]

I will give ILP a miss.

Pls invest directly.

 

[wutawa]

Even if the plan is just pure investment? My concern is the funds are locked in very long sia, if i buy S&P 500 isnt it better ?

ilp cmi. s&p has its own risks too.

(vested in s&p)

 

[Ev0d3vil]

I will give ILP a miss.

Pls invest directly.

Which brokerage app you use to buy S&P 500?

 

[Gambler.]

if you're uninsurable (i.e. existing conditions, etc.), yes.

otherwise, no

 

[lifeafter41]

CPF bestest!!
Vested in CPF……….

 

[-nyox-]

Definite no. Agents love to sell ilp and paint a v rosey picture cos it earns them the highest commission.

Read the fine prints, the guaranteed portion is normally quite low and their projection is usually overly optimistic.

 

[lizzykai]

only buy ilp if u love your friend and wants them to earn more money, on your money than yourself..

 

[Laguna123]

My ILP bought 13 years ago, every year paid around $1.3k for the past 12 years. Need to wait another 10 years then can withdraw out and not confirm got earning. Now surrender value is only $6k+, last time I young and naive bought it from my cousin.

 

[buttbERry]

avoid at all cost imo

 

[ThisIsSparta]

a wise man once told me money is outside body object, not important.

so i took his advice and bought as many ILPs as i can

 

[shredded]

most insurers are pushing ILP because they get the most commissions out of it.

if want to invest, can consider dollar cost averaging into some ETFs

 

[LatentBlack]

Most IPL you will break even after about 6-10 years before you start taking any profit.

Just image you just create your own Tech fund with some Apple, Google, Amazon, Nvidia, AMD, Intel etc.... and give it 10-20 years, if you are lucky you can retire liao.

If you buy IPL, you are just helping your agent retire.

 

[standarture]

They always say first year goes to them. So imagine paying a few thousand to them upfront.

 

[Kanko San]

...no no no

 

[GreatPumpkin]

The only good thing about ilp is they made me realize i should just self service buy sp500.

 

[anthonygreenisreal]

Yeah the way ILP works is borderline scummy and like a scam. You will be much better to buy term and invest the rest

 

[Ev0d3vil]

The only good thing about ilp is they made me realize i should just self service buy sp500.

You use which brokerage to buy SP500?