Just signed an ILP...

[boredboiboi]

I check online that I had $3000 premium holiday amount. I remember 20 years back my agent say this premium holiday can used for holiday. I recently ask him to help me withdraw this 3k. He advised me don't touch better unless really need it. This if withdrawn will affect the policy and other stuff. Can this be withdraw out as cash? Or only used to help continue the monthly premium payment? If I surrender the policy and this premium holiday amount won't be added in, wouldn't it be better to used up first before surrender? Anyone can help on this

What the plan name? Need to know the datails

 

[davidtanwei]

Aia global equity fund. I bought it in year 2000. I read through the contract. It never say about
Penalty for withdrawn or surrender. I pay 20 year and should be more than enough..now it is 100%(my)+8% aia contribution monthly.

 

[boredboiboi]

Aia global equity fund. I bought it in year 2000. I read through the contract. It never say about
Penalty for withdrawn or surrender. I pay 20 year and should be more than enough..now it is 100%(my)+8% aia contribution monthly.

Yup. U can withdraw anytime

 

[davidtanwei]

The premium holiday amount also can cash out?

 

[boredboiboi]

The premium holiday amount also can cash out?

U cant cash out all if u want the plan to continue running as it need some monry inside for month charges for the plan and sum insured

 

[davidtanwei]

So anyone can confirmed.
The premium holiday cannot cash out if even I surrender my policy
So shouldn't one used it before surrender policy.Can used it to pay monthly before surrender.

 

[boredboiboi]

So anyone can confirmed.
The premium holiday cannot cash out if even I surrender my policy
So shouldn't one used it before surrender policy.Can used it to pay monthly before surrender.

Premium holiday got no values. Premium holiday is to stop paying premium only thats all

 

[a4973]

hi all, i have this ILP https://www.aia.com.sg/en/help-support/funds-information/aia-ilp-fund-prices/aia-portfolio-30.html?fundCode=AP30 & currently am slightly in the positive.
wondering if the underlying fund ie Schroder Multi-Asset Revolution 30 still has more upside? appreciate all inputs & comments. thanks all.

 

[boredboiboi]

hi all, i have this ILP https://www.aia.com.sg/en/help-support/funds-information/aia-ilp-fund-prices/aia-portfolio-30.html?fundCode=AP30 & currently am slightly in the positive.
wondering if the underlying fund ie Schroder Multi-Asset Revolution 30 still has more upside? appreciate all inputs & comments. thanks all.

First. How long more for the ilp? Its sub fund, which means its fund of fund which in another way there is double fund management charge. Anymore upside i doubt anyone would be able to provide u an answer.

 

[a4973]

First. How long more for the ilp? Its sub fund, which means its fund of fund which in another way there is double fund management charge. Anymore upside i doubt anyone would be able to provide u an answer.

How do you mean "how long more for the ilp"?
Actually even if the funds have more upside I should not be buying the fund via ilp but rather via diy right?

 

[boredboiboi]

How do you mean "how long more for the ilp"?
Actually even if the funds have more upside I should not be buying the fund via ilp but rather via diy right?

How long more as in u still need to continue pay or its over the min period? Buying main funds will give u better returns, be it diy or not.

 

[a4973]

How long more as in u still need to continue pay or its over the min period? Buying main funds will give u better returns, be it diy or not.

Paid for 14 years already. Is there a minimum term for ilp?

 

[boredboiboi]

Paid for 14 years already. Is there a minimum term for ilp?

14 years. Most likely can surrender already. Old plans are front end load where charges are very high upfront. So u r free to stop paying premium and buy the funds elsewhere

 

[ocs_woodlands]

hi all, i have this ILP https://www.aia.com.sg/en/help-support/funds-information/aia-ilp-fund-prices/aia-portfolio-30.html?fundCode=AP30 & currently am slightly in the positive.
wondering if the underlying fund ie Schroder Multi-Asset Revolution 30 still has more upside? appreciate all inputs & comments. thanks all.

I had 3 ILPs from AIA. I surrendered one in 2018 and still have 2. My wife also has 2 ILPs.

I must say we are very blessed that our agent helped us to choose what I think is perhaps the best performer ie AIA Regional Equity Fund. All our ILPs are 100% in this fund except for one.

so whats the performance?

First 3 are mine and last 2 my wife
ILP 1 - surrendered in 2018 after 19 years. compounded annual rate of return was about 4.5% pa. 100% REF

ILP 2 - 10 years already, now just turned positive. about 105% of total premiums paid over 10 years. 100% REF

ILP 3 - 9 years. 50% Acorns 50% REF. Now 95% of total premium paid.

ILP 4 - 17 years. Now returns about 4.6% pa. 100% REF.

ILP 5 - 6 years. Now only 50% of premiums paid. don't know why this is so low....maybe the upfront coats are so high..

https://www.aia.com.sg/en/help-supp...ilp-fund-prices/aia-regional-equity-fund.html

As I will be hitting 50 in a year or two, I will be cashing out all the 4 ILPs from 50 - 54 as the mortality charges rise and move to term insirance

 

[boredboiboi]

I had 3 ILPs from AIA. I surrendered one in 2018 and still have 2. My wife also has 2 ILPs.

I must say we are very blessed that our agent helped us to choose what I think is perhaps the best performer ie AIA Regional Equity Fund. All our ILPs are 100% in this fund except for one.

so whats the performance?

First 3 are mine and last 2 my wife
ILP 1 - surrendered in 2018 after 19 years. compounded annual rate of return was about 4.5% pa. 100% REF

ILP 2 - 10 years already, now just turned positive. about 105% of total premiums paid over 10 years. 100% REF

ILP 3 - 9 years. 50% Acorns 50% REF. Now 95% of total premium paid.

ILP 4 - 17 years. Now returns about 4.6% pa. 100% REF.

ILP 5 - 6 years. Now only 50% of premiums paid. don't know why this is so low....maybe the upfront coats are so high..

https://www.aia.com.sg/en/help-supp...ilp-fund-prices/aia-regional-equity-fund.html

As I will be hitting 50 in a year or two, I will be cashing out all the 4 ILPs from 50 - 54 as the mortality charges rise and move to term insirance

Its all front end load and its all sub funds. I would have stop the premium now and invest somewhere else. Or even surrender all, dont even need to wait till years later as the charges are already paid for upfront and no benefit to really keep it unless u need to so call coverage.

 

[ocs_woodlands]

Its all front end load and its all sub funds. I would have stop the premium now and invest somewhere else. Or even surrender all, dont even need to wait till years later as the charges are already paid for upfront and no benefit to really keep it unless u need to so call coverage.

I am no ilp expert but since its front end loaded, that would mean the most "expensive years" in terms of distribution cost is behind me and hence my premiums are now just going to the units and mortality charges?

doesn't this imply I should keep the ILP till when the mortality charges start rising steeply?

 

[Value.Matrix]

I am no ilp expert but since its front end loaded, that would mean the most "expensive years" in terms of distribution cost is behind me and hence my premiums are now just going to the units and mortality charges?

doesn't this imply I should keep the ILP till when the mortality charges start rising steeply?

I think it depends but yes, better ensure you do your calculations properly.

For the year 6 ILP, likely its due to surrender penalty charges / etc etc so that's why the surrender value is low.

For most ILP (unless under cpfis, which has lower charges), the rest need min holding period of 5 years or more.

PS: I trade ILPs with investors too, and i read the fees etc so yea check properly.

 

[boredboiboi]

I am no ilp expert but since its front end loaded, that would mean the most "expensive years" in terms of distribution cost is behind me and hence my premiums are now just going to the units and mortality charges?

doesn't this imply I should keep the ILP till when the mortality charges start rising steeply?

Nope. Because there is bid offer spread of 5%. Which is equal to 5% sales charge, and some monthly fee etc.

 

[ocs_woodlands]

I just did a check on the morality charges I am paying for my 2 ILPs.

ILP A - 29.1% of my annual premium is being used to buy protection for me.

ILP B - 23.6% of my annual premium is being used to buy protection for me.

Statistically, is this the time to X over from ILP to term or are the premium deductions still okand hence can stay on awhile to milk the investment portion?

 

[boredboiboi]

I just did a check on the morality charges I am paying for my 2 ILPs.

ILP A - 29.1% of my annual premium is being used to buy protection for me.

ILP B - 23.6% of my annual premium is being used to buy protection for me.

Statistically, is this the time to X over from ILP to term or are the premium deductions still okand hence can stay on awhile to milk the investment portion?

U might want to put out the actual premium. Percentage is very broad. Ur annual premium we dunno how much. Can be 10k, can be 20k. So ya. And what is the protection amount.