need advice on ILP

[reddevil0728]

Got positive aspects but with higher risks. Can use other alternatives.

for sure. but there's no reason for mas to ban it which some asked why mas still allow

 

[rarenick]

for sure. but there's no reason for mas to ban it which some asked why mas still allow

I used to work in insurance industry and also worked with MAS. I don't wish to comment more but if MAS also need to label Ilp as a complex product then it means something.

 

[limster]

if people are made aware of the expense ratios of ILPs and still make an informed choice to buy ILP go right ahead. basic Econs theory states that they are maximising their utility & satisfaction in making that choice.

The rest of us who hold shares that profit from ILP sales (like OCBC/GE), can be grateful that the insurance companies are selling a product that people want to buy. I am vested in Prudential and Aviva too and look forward to collecting dividends!

If you feel that ILPs are so harmful that we should ban them despite informed choice (like not allowing people a choice whether take to controlled drugs), then please write to your MP to introduce law to ban ILPs, or at least tax them like we tax cigarettes.

 

[BBCWatcher]

but for those who are willing to pay people to do the work for them, why wouldn't it be allowed?

It ain’t that. There are plenty of “pay people to do the work for them” alternatives that cost much less — and have better people, too.

 

[reddevil0728]

I used to work in insurance industry and also worked with MAS. I don't wish to comment more but if MAS also need to label Ilp as a complex product then it means something.

yep. it means it's not illegal but is also not simple. as simple as that.

unless you are saying it is illegal?

It ain’t that. There are plenty of “pay people to do the work for them” alternatives that cost much less — and have better people, too.

there are. but does that mean ilp shouldn't be allowed just because there are other alternatives?