Getting an ILP PLAN from AIA

[anfielder]

actually i wanna make a few points.
true, ilp sarks ttm. but 15 years back, would your dad invest in an ETF?
the older and less financial savvy generation would be better off with an ilp than nothing.
on the contrary, if your dad's fren had recommended him to buy term invest etf, he might be skeptical about the no-cash-value part and not get any insurance at all.
but this is definitely a good case study to show and educate whoever sees this on this forum or even share it with your friends.
my 2 maos.
dont flame moi.

agree. ETFs weren't that common or well established in SG back then.

and 10-15 years ago being a fresh grad I fell for the idea of getting something back at the end of 20-25 years. probably wouldn't have bothered to buy term insurance because there's no cash value attached.

of course, now that I know it's actually going to cost me more to get an ILP than BTIR, I strongly discourage anyone from getting ILP and I'm in the process of replacing my ILP coverage with term and putting the proceeds into a diversified portfolio of ETFs.

 

[SpinFire]

actually i wanna make a few points.
true, ilp sarks ttm. but 15 years back, would your dad invest in an ETF?
the older and less financial savvy generation would be better off with an ilp than nothing.
on the contrary, if your dad's fren had recommended him to buy term invest etf, he might be skeptical about the no-cash-value part and not get any insurance at all.
but this is definitely a good case study to show and educate whoever sees this on this forum or even share it with your friends.
my 2 maos.
dont flame moi.

Yeah, I agree that ETF investing wasn't possible 15 years ago. I shared the info to illustrate the high cost of ILPs. Even though there're various ways to do dollar-cost averaging in ETFs now (e.g. through OCBC and POSB), I think the sales charge of 1% is still on the high side. Hopefully it'll go down to 0.5% sales charge. And seriously, schools in Singapore still lack financial education for students.

Now thinking of it, if you buy term and put excess funds into CPF SA (4% CAR), it'll probably still outperform the ILP.

 

[w1rbelw1nd]

actually i wanna make a few points.
true, ilp sarks ttm. but 15 years back, would your dad invest in an ETF?
the older and less financial savvy generation would be better off with an ilp than nothing.
on the contrary, if your dad's fren had recommended him to buy term invest etf, he might be skeptical about the no-cash-value part and not get any insurance at all.
but this is definitely a good case study to show and educate whoever sees this on this forum or even share it with your friends.
my 2 maos.
dont flame moi.

15 years ago... our parents would have invested in properties and song song gao jurong.

Moi is a loser son enjoying the fruits of his mother foresight now lol

 

[MaoZeDuo]

Yeah, I agree that ETF investing wasn't possible 15 years ago. I shared the info to illustrate the high cost of ILPs. Even though there're various ways to do dollar-cost averaging in ETFs now (e.g. through OCBC and POSB), I think the sales charge of 1% is still on the high side. Hopefully it'll go down to 0.5% sales charge. And seriously, schools in Singapore still lack financial education for students.

Now thinking of it, if you buy term and put excess funds into CPF SA (4% CAR), it'll probably still outperform the ILP.

Yes! Secondary school should start doing that! Especially getting bto... many rushed uninformed...

Cpf sa ar... last time can rah... now... u know I know

15 years ago... our parents would have invested in properties and song song gao jurong.

Moi is a loser son enjoying the fruits of his mother foresight now lol

15 years ago minimum how much regular premium can buy house? Lol.

House... its for u ma... whr got loser... as long as u don't throw her out when she old can riao

 

[junxian81]

bought an ILP with AIA for excatly 7 years.
total premium pay: 10500
current value: 8523.53
charges:1275.81
what is year that i can surrender without pen? i saw the current surrender value is 8523.53. Does that mean i surrender i can take back the full value withour pen?

 

[tiny]

15 years ago... our parents would have invested in properties and song song gao jurong.

Moi is a loser son enjoying the fruits of his mother foresight now lol

40-60 years ago if your grandparents got foresight to buy shophouses or coffeeshops, now huat until peng san.