Aviva Myretirement

[hoodyap]

Btw, any idea what is the penalty to close an endowment plan for less than a year? Lets say a yearly Premium of $5,000.

 

[R2R_AIA]

Btw, any idea what is the penalty to close an endowment plan for less than a year? Lets say a yearly Premium of $5,000.

Penalty is the premium of $5,000

 

[Perisher]

Perisher, fully agreed with you on the SGS SSB+STI ETF and thanks for your past contribution.
Following is the yearly Dividend Yield of STI ETF.

2016 - 3.78%
2015 - 3.43%
2014 - 3.11%
2013 - 3.00%
2011 - 2.83%
2010 - 2.12%
2009 - 3.18%
2008 - 4.24%
2007 - 35.34%
2006 - 13.80%
2005 - 11.66%
2004 - 20.49%
2003 - 18.37%
2002 - 8.83%

Which I don’t see why invest in those Insurance Endowment Plan.

SGS SSB's interest rate is rather low now... put in bank might yield higher depending on the requirements...

 

[Perisher]

Penalty is the premium of $5,000

wah, completely gone?

 

[R2R_AIA]

If its first year yes. Anw you will likely be losing money anytime you want to surrender early. So once you embark on such plan, either you forgo the amount of premium paid and take back some cash (If applicable), and invest on your own, or else if you are left with few years to maturity, keep it till then for the terminal bonus.

I am not replying to promote this instrument btw.

wah, completely gone?

 

[spiritGate]

U see
1st year save $2400 buy SSB, can get back capital plus interests in 11th year.
2nd year save another $2400, can get back both in 12th year right?

So every year I save and wan buy SSB, I can only take back in another x+1th year.

Like that if I reach age 48yr old, my next SSB payout will be in 58th yr right?

your payout is every half a year, if you can keep up then why not? just treat it as passive income and the money in the bond can treat it as normal bank where you can take it out if you need it (especially when you retire).

There are also many other ways to gain good interest like OCBC 360, UOB one account, fixed deposit and etc. Also got liquidity also. No fear of penalty also.

 

[T H I N K]

Btw, any idea what is the penalty to close an endowment plan for less than a year? Lets say a yearly Premium of $5,000.

Surprised to read/know people can lose their capital buying endowment policies (supposedly capital protected).

I bought my first endowment policy about 10 years ago (5+5) cos got spare cash dunno where to put in low interest rate environment, got $200 vouchers for signup (greedy), maturing end 2016, hopefully can get 2.5% to 3% return

So why want to early terminate and lose 5k? U should know that when u buy an Endowment Policy, it should be held to maturity to enjoy the benefits. why not consider this:

Sell it to Reps Holding (google to find out more).

If got people want to buy over your policy for a better “surrender value”, such that u dun lose 5k but make some money, why not? If got people want to buy over your policy at a “higher value”, does it mean it is a good policy, got future value or “profit” to make?

Think!

 

[ken136]

My wife paid 12k for this plan for 1 year, now she don't want to continue already. Anybody want to take over? Let go at 6k

 

[myrick]

Why let go? Care to share more about the plan and how we can go about taking over?


QUOTE=ken136;101610862]My wife paid 12k for this plan for 1 year, now she don't want to continue already. Anybody want to take over? Let go at 6k[/QUOTE]

 

[spiritGate]

My wife paid 12k for this plan for 1 year, now she don't want to continue already. Anybody want to take over? Let go at 6k

Waaa 1k per month... Alot sia..

Sent from sent from gagt using GAGT

 

[jsiying]

Any prudential agent able to quote prudWealth

no one quoted u yet? anyway the minimum is $200/mth. payment is 10 or 20 years.

cheers