Maturity Endowment 2020

[merlot6230]

Mind i ask the endowment rate will be decrease or wipe off if maturity this year after coronvirus 2020 for all insurance is it ?

Since i notice there a clause mention non - guarantee on interest rate.

Any view ?

 

[lim.tina]

Mind i ask the endowment rate will be decrease or wipe off if maturity this year after coronvirus 2020 for all insurance is it ?

Since i notice there a clause mention non - guarantee on interest rate.

Any view ?

I dont think so.. That day i received email from policypal launching new endowment product soon leh. 2.1% guaranteed for 3 years. I faster go sign up cuz i scared no more slots https://forms.gle/6DA74bKiDxzULUcX6 say can get up to $100 rebates.

 

[henrylbh]

I dont think so.. That day i received email from policypal launching new endowment product soon leh. 2.1% guaranteed for 3 years. I faster go sign up cuz i scared no more slots https://forms.gle/6DA74bKiDxzULUcX6 say can get up to $100 rebates.

As long as insurer and SDIC do not become insolvent.

 

[soneat]

The bonus to be declared in 2020 will be based on closing as of 31 Dec 2019...which should be fine. If 31 Dec 2020 closing is bad, 2021's non-guaranteed bonus may be affected.

Just Google "AIA endowment zero bonus" and see what happened on the past. E.g.
https://www.straitstimes.com/business/invest/make-full-sense-of-insurance-policies

*The worst on record is AIA, which cut terminal or maturity bonuses to zero in 2001, affecting regular-premium endowment policies maturing that year, recalls Mr Lim."

 

[blurpandasg2014]

My plan maturing this year. Hopefully it won't be affected. Will update here

 

[nautilus]

The bonus to be declared in 2020 will be based on closing as of 31 Dec 2019...which should be fine. If 31 Dec 2020 closing is bad, 2021's non-guaranteed bonus may be affected.

Just Google "AIA endowment zero bonus" and see what happened on the past. E.g.
https://www.straitstimes.com/business/invest/make-full-sense-of-insurance-policies

*The worst on record is AIA, which cut terminal or maturity bonuses to zero in 2001, affecting regular-premium endowment policies maturing that year, recalls Mr Lim."

That's the whole issue with endowments which is why avoid it like the plague. One bad year can wipe out all the gains accumulated over the good years leaving the policy holder with little over the guaranteed value. The worst thing is the majority of people will continue to pay and hold these policies till the end when it's too late.

 

[brightllord]

That's the whole issue with endowments which is why avoid it like the plague. One bad year can wipe out all the gains accumulated over the good years leaving the policy holder with little over the guaranteed value. The worst thing is the majority of people will continue to pay and hold these policies till the end when it's too late.

Nowadays with interest rates at all time low. Very difficult to source for investment with our hard earned money so as to get a decent returns. FD is out!