Insurance Policy

[Norman Chan]

What is your opinion if example you bought a 25 years endowment policy of S$100k...the proposal info at that time stated that the Guaranteed Values + Non-Guaranteed Values is about S$212K but if when Matured , the actual values is only about S$140k or less.

Will you have a feeling that got cheated ?

Anyone can share their real experiences the real differences between the proposal and actual take back when the policy matured.

Thanks in advance for replying.

 

[havetheveryfun]

What is your opinion if example you bought a 25 years endowment policy of S$100k...the proposal info at that time stated that the Guaranteed Values + Non-Guaranteed Values is about S$212K but if when Matured , the actual values is only about S$140k or less.

Will you have a feeling that got cheated ?

Anyone can share their real experiences the real differences between the proposal and actual take back when the policy matured.

Thanks in advance for replying.

yes but what to do.. it is more of the agent mis-representing the policy. The non-guaranteed values always project around a 5.25% annual return which is quite impossible nowadays. always only take into account the guaranteed values in the future. Thats why many people shoot down agents over here in Money Mind.

At the very least, you managed to get back your capital + some gains... some of those on ILPs may even get back lesser than what they have put in over the years!

 

[Coryphaena]

That is how insurance agent get their fat commission...

 

[TabascoSauce]

alr said non-guaranteed liao, u sld have tot of this when u bought the endowment.