Financial Planning Problems

[JoePilot]

For term insurance, cheapest bestest awesomest you can get now is...






drum roll pls....

Aviva-SAF Group Term Life.

$128pm for $ONE MILLION. No-brainer. No need agent, just sign up online.
And the price cannot be beat because it's GROUP.

 

[kaixmax]

agree, i could have accumulated enough then start investing.

but my monthly savings of 200 would be rotting in the bank at 0.05% while I try to accumulate. some people want their every cent to earn interest/dividend for them.

noticed no one has done any calculation to verify which is better

1. to invest 200 a month with insurance company and earn their projected 4-8% straight away and pay the agent fees or
2. to wait till you have a few thousand dollars before doing a diy.while doing so you earn an interest of 0.05% but you save on agent fees

But i got a strong feeling that option 2 is better.

why do you need every single cent to be earning interest/dividend immediately? It's only a matter of a few months, and at some point you need to decide whether the transaction costs is worth it. The bottom line that in the long run, the expense fees eat into your earnings so much, you need to adjust your time horizon a little bit. At the point of which 200 bucks is a lot for someone, he or she should really be concerned about wealth protection and whether there is sufficient coverage! Even whole life plans have some form of expense portion where the portion of your premium is used for the insurance.

 

[IFAadvisor]

i have mentioned in my earlier post that i find the 85% deduction very big.

I have also mentioned that i will not put my money in.

i do no put my money in fund supermart. 3-5% is still quite high. but it sounds reasonable compared to 85%

i use dbs vickers cash account. only 0.18% for each trade.

Precisely, you trade using a trading account instead of via an insurer company. You have more choices of funds and charges are low.

Pardon me, because your posts seems pro ILP, even at 105% allocation, I will advise my client to cut lost. You have just enough to offset your policy fee of $60 every year if your premium is $100/mth excluding fund charges and insurance. Even with more premium per month, your management and fund charges will suck up the net return.

Which fund will you recommend from any insurer portfolio to give you the 4-8% investment return now since you say one can put aside $200 and immediate enjoy earning the projected 4-8%

 

[keentolearn]

For term insurance, cheapest bestest awesomest you can get now is...






drum roll pls....

Aviva-SAF Group Term Life.

$128pm for $ONE MILLION. No-brainer. No need agent, just sign up online.
And the price cannot be beat because it's GROUP.

Thanks Mr Pilot, it is really great info. Any good term life policy recommendation for a female?

 

[MrQuotes]

Please don't give wrong info JoePilot.

$128/M is not the cheapest... for $1mill coverage


I got it at less than $70/m and it covers $1mill all the way till 70.

Aviva GTL covers until 65 and sum assured drops to $100K until 70.

 

[JoePilot]

Please don't give wrong info JoePilot.

$128/M is not the cheapest... for $1mill coverage


I got it at less than $70/m and it covers $1mill all the way till 70.

Aviva GTL covers until 65 and sum assured drops to $100K until 70.

Ok good to know that. May I know from which co.?