Mate, if you're only worried about rock-bottom rates, get some more term life. DirectAsia just quoted me seventy bucks a year for a 27-year-old non-smoker. SEVENTY BUCKS. That's two thousand dollars a year of extra cash in your pocket.
If you save that two thousand bucks a year and stick it in the stock market and don't touch it, then at the end of twenty years you'll end up with - not forty thousand dollars, but sixty-six thousand bucks. By the time you're 57, you'll have $100,000 in actual cash money. If you live to 77, you'll have a quarter of a million.
I think the question you should be asking is "why do I really want a whole-life policy? What am I trying to do?"
This policy is a yearly renewable term plan offered by Axa. Your premium will increase as you age. So it is not comparable to a whole life plan with CI coverage.
For insurance products, you pay for what you get. What you got pays only for Death and TPD and nothing on CI. I will recommend you Aviva SAF plan for it provides such coverage on level premium till age 65.
For limited payment life plans, for thread starter, premium term ends in 20 years. Which meant he do not need to keep his money invested like yourself to provide coverage. It will be at a discounted dollar compared to your planning where assets is your invested money.
You may want to check how is your investment portfolio now, discipline in investing, liquidity and profitability, estate tax if applicable in event of Death and TPD. Some may not like the investment risk.
“What’s the definition of a good investment?"
One that pays the most when it’s needed the most.”
Yes you are right in why do I really want a whole-life policy and what am I trying to do?
