AXA INSPIRE FLEXIPROTECT

[StocksWannabe]

I bought AXA INSPIRE FLEXIPROTECT at $200/mth for 1 year plus already. death benefit of 200k.
At this moment, i began to regret and feel unsafe about the benefits of ILP-Insurance. Should I cut my losses now and cancel the plan or? Please advice thanks.

 

[kebinu]

All of us will be sound enough to tell you not to cancel just base on the information above.

Find your agent to meet up?

What is your concern here?

 

[StocksWannabe]

Judging by the premium allocation. only till the fourth year will there be a 100% allocation of premiums into funds. So I need a long time to break for the little % of allocation of premiums.
And also once i reach the age of 40, the insurance charge will be of a significant amount that will "eat" into my funds. So meaning at the end of the day with a fund growth of about 4-5%, it will be very fortunate to break even much less taking a loss over the plan.

 

[kebinu]

The purpose of this plan is the higher sum assure as compared to a traditional whole life plan, more flexibility in terms of premium payment, sum assured, premium holiday etc.

Primary purpose is protection. Secondary is investment return.

If you are looking at investment, pls terminate this plan. Go DIY.

/me speaking as an online user.

 

[Lucas_]

at 200/month, your sum assured is at 200k.

Compare it with a term insurance and also a wholelife policy, then decide if which is better.

IMO, 200/month for term insurance with no returns, sum assured can definitely be more than 200k. However as for wholelife.....