Insurance - ILP

[Knight_Rider]

But $100 for Life and CC cannot find. Depends on what you looking for. It shouldn't be sold as an investment product in the first place.

 

[0limshs]

I have the same policy paying for 19 years now...
am curious if you have other policy to cover critical illness or you intend to buy another to replace this?

Feeling good today.

Finally ditched my PruLink ILP after 24 years !

The investible premium was $1.2K a year.
I got back $53.6K, giving a IRR of 4.63% pa IRR.

Including Critical Illness premiums (about $20k), IRR becomes 0.65% pa

Including various Crisis Waiver + Riders + Misc cover (about 8k), IRR = -0.57% pa

Total premiums (Investible + CI + riders) paid around $56.6K. There were a lot of unnecessary add-ons ... small items that all add up over the years !

Good riddance

 

[Knight_Rider]

CC is at least $3K+ standalone

 

[oceanicmanta]

I have the same policy paying for 19 years now...
am curious if you have other policy to cover critical illness or you intend to buy another to replace this?

I had replaced it with Aviva Mindef GTL & CI coverage a few months ago at a fraction of what I was paying Pru.

I will probably keep it til 65yo if premiums remain affordable. If not, will tap savings & retirement funds if needed.

PruLink is just not sustainable with the exorbitant mortality charges at older age. The longer one has it, the harder it is to replace given limited options & fear of letting go.

I once viewed having CI coverage to be very important, but not so anymore. Everyone's situation is unique.

 

[0limshs]

Noted and thanks for the response... will relook into my policy again...