How is AXA Life Exential Prime?

[Expert]

Hi everyone, anyone has any views on the above wholelife insurance plan?

Thinking of getting this due to the coverage for short-term disability benefits and early CI. Multiplier is 3.5x for TPD/CI/death, and 7x for accidental death. Probably looking at $50k SA, premium $3048/yr for 15yrs payment.

Age 26, male and non-smoker. No insurance under my name. Is the premium expensive or it is still BTIR?

 

[Expert]

And also any views on AXA inspire flexiSaver ILP? Seems like the gains are quite high, with breakeven period at abt 8-9yrs..

 

[Shiny Things]

And also any views on AXA inspire flexiSaver ILP? Seems like the gains are quite high, with breakeven period at abt 8-9yrs..

The gains from an ILP will depend entirely on what funds you pick. The salesman can't promise you that you'll break even in 8-9 years.

(And, I know the "buy term, invest the rest" thing is so played out, but seriously, you should buy a term life policy and invest the rest, because you'll get a lot more insurance cover for your buck, and you'll have a lot more investment money as well.)

 

[NiteX2]

In my opinion, this plan is good as a secondary plan. Should still get yourself covered with a wholelife plan from providers like TM to get higher coverage.

Do feel free to PM me if you require more info or a meetup to discuss your situation as I'm from an IFA

 

[Expert]

The gains from an ILP will depend entirely on what funds you pick. The salesman can't promise you that you'll break even in 8-9 years.

(And, I know the "buy term, invest the rest" thing is so played out, but seriously, you should buy a term life policy and invest the rest, because you'll get a lot more insurance cover for your buck, and you'll have a lot more investment money as well.)

I was shown the graph and the percentage returns, and it is base on dollar cost averaging.. It is a regular premium ILP.

Frankly i have no idea on investment. I do not have a sum of money to invest also, hence the ILP looks enticing. Lol.

 

[Shiny Things]

I was shown the graph and the percentage returns, and it is base on dollar cost averaging.. It is a regular premium ILP.

Frankly i have no idea on investment. I do not have a sum of money to invest also, hence the ILP looks enticing. Lol.

The ILP is just a wrapper around the same unit trusts you can buy from other providers for a lot cheaper. It's not a good idea - the ILP is designed to look enticing to people who don't know any better.

Hang around here for a bit; ask a few questions; and in the meantime, get yourself a term life insurance policy. It's a lot cheaper than an ILP for the same coverage, and gives you a lot of money left over to do the investment yourself.

 

[Expert]

The ILP is just a wrapper around the same unit trusts you can buy from other providers for a lot cheaper. It's not a good idea - the ILP is designed to look enticing to people who don't know any better.

Hang around here for a bit; ask a few questions; and in the meantime, get yourself a term life insurance policy. It's a lot cheaper than an ILP for the same coverage, and gives you a lot of money left over to do the investment yourself.

But i do not have that kind of money to even buy a lot of those unit trust (or is it sub-fund for the ILP?)...

Is there any term insurance with early CI cover?

 

[MoonHehe]

But i do not have that kind of money to even buy a lot of those unit trust (or is it sub-fund for the ILP?)...

Is there any term insurance with early CI cover?

Well, one alternative for you is to just get a Term + Standalone Early CI Term.

 

[Expert]

Well, one alternative for you is to just get a Term + Standalone Early CI Term.

Any plans to recommend?

 

[archcherub]

But i do not have that kind of money to even buy a lot of those unit trust (or is it sub-fund for the ILP?)...

Is there any term insurance with early CI cover?

surely u can afford a cheaper term plan (waaaaay cheaper than an ILP)

then take the rest, buy STI ETF (using standard chartered bank brokerage for less) or use OCBC blue chip program or POSB Investor program..
many threads in this forum.. can go read up..

DIY always pay off in the long run!

 

[Expert]

surely u can afford a cheaper term plan (waaaaay cheaper than an ILP)

then take the rest, buy STI ETF (using standard chartered bank brokerage for less) or use OCBC blue chip program or POSB Investor program..
many threads in this forum.. can go read up..

DIY always pay off in the long run!

ILP plan can just start with $100/mth..

 

[MoonHehe]

Any plans to recommend?

If you're talking about AXA, then there's Early Stage Criti Care (ESCC). This plan is a Early CI protection plan.

Anyway, with $100/month, you can start an account with POSB Invest Saver also.

 

[archcherub]

ILP plan can just start with $100/mth..

I am not sure abt AXA, but if i am not wrong, the $100 per month... less than 10% goes into your investment in the 1st year.

And less than 50% goes into your investment in 2nd year.

and so on...
and as long as you pay, there is policy fee per month that u have to pay. Again, i could be wrong. This policy fee is for most insurers... i dunno AXA but i wont be surprised if there is.
its abt $5 for some insurer.

Thats 5% of ur ilp if u only paying $100 minimum.

What is this policy fee for, u ask?
oh well, because insurers can get away with it.

Anyway, with $100/month, you can start an account with POSB Invest Saver also.

Yup. a wonderful alternative.

 

[prashn80]

If you're talking about AXA, then there's Early Stage Criti Care (ESCC). This plan is a Early CI protection plan.

Anyway, with $100/month, you can start an account with POSB Invest Saver also.

The premium for AXA ESCC seems to be among the most expensive in the market. TM EarlyCare or GE CCA is a cheaper alternative. Prudential ESCC is i think the cheapest, but do consider the 30 days survival period for any claim to be paid.