need advice on ILP

[Jorgensen]

He's not wrong. It's 20% per annum. But it's not you but he himself earned after getting a few suckers like you to sign ilp from him to earn your commissions

 

[TrollAndOgres]

If haven buy ilp den dont buy prease

 

[idiot444]

Don;t waste time. Forumers don't like insurance agents. All will advise don;t buy.
But anyone who touted 20% pa , I also will shun away cause investment is no guaranteed and anything under the sun can also be projected. And if dividend is so attractive at 20% pa , banks are all closing liao

 

[tiopwndeepdeep]

If haven buy ilp den dont buy prease

Haven’t buy yet but considering because he showed me this excel by year 3/4 the dividends extracted will be able to cover all premiums, so it’s basically paid for after 3 years.

 

[rarenick]

Haven’t buy yet but considering because he showed me this excel by year 3/4 the dividends extracted will be able to cover all premiums, so it’s basically paid for after 3 years.

U need to buy this ILP for long?

 

[tiopwndeepdeep]

U need to buy this ILP for long?

10 years or 15 years period.

 

[rarenick]

10 years or 15 years period.

Prudential got an Ilp plan can lock in all-time high value for your most current investment fund. U can compare GE Ilp plans with Prudential. This is important because by the time u want to redeem it or if passed away, then the highest value is retained.

In any case, I still don't think anyone should mix life insurance with investment. It's complex until MAS also labelled it. Last advice (but I'm not a financial adviser), pls don't get trapped by Ilp.

 

[tiopwndeepdeep]

Thank you everyone will think hard about it. I want to buy mostly for investment and not so much on protection. The FA didn’t talk much about the coverage but focused on the high returns using the dividend playbook by switching funds. Was hoping to check if anyone bought sth similar here.

 

[mak888]

Well just be careful as they show you others peoples statements or screenshots from the portal (personal detailed blurred) showing their current profits which are high, but isn’t 100% true as you will be given a Welcome Bonus. So that is shown as profit in the statement, so the return % is much lower if you factor out the bonus amount. The bonus is only on sign up so subsequent years of premiums the actual yearly return is just normal.

 

[aarontansp]

All in tech fund better than ilp

 

[rider83]

ILP is not new stuff. It exists long ago and those who invested in it really huat, they already come online hao lian until pants dropped le.

But have you seen anyone, just one person, who came out and show his ILP returns and gratefulness to insurance companies??? Common sense leh.

Above said, i do know a couple of people, who are grateful to insurance companies because they bought term insurance and claimed it. They were happy that the sum of money was able to tide them over crisis.

 

[DarkStarer]

You tell the FA if you put in 100k, can up ma? Then you **** the FA. After that during the 14 day free look period you cancel your policy.

 

[DarkStarer]

Thank you everyone will think hard about it. I want to buy mostly for investment and not so much on protection. The FA didn’t talk much about the coverage but focused on the high returns using the dividend playbook by switching funds. Was hoping to check if anyone bought sth similar here.

Mine had high returns but the fund fee margin also sibei high at about 5% overall. And the fund initially just after COVID doing very well, after that not so much. Switch also no use. Now 6 yrs in and I haven't even break even my paid amount. Lost about 6k which is 10%.

I told my husband I put 7 yrs no returns and lose money, I put in POSB also better. But hard to niaoji anything because my husband was the agent.

 

[bueysongLaiQikuamai]

bro kena gong tao by dua neh bu ar?

 

[TrollAndOgres]

ILP is not new stuff. It exists long ago and those who invested in it really huat, they already come online hao lian until pants dropped le.

But have you seen anyone, just one person, who came out and show his ILP returns and gratefulness to insurance companies??? Common sense leh.

Above said, i do know a couple of people, who are grateful to insurance companies because they bought term insurance and claimed it. They were happy that the sum of money was able to tide them over crisis.

Tbh my ilp got make money but when i average annual returns also end up not a lot of profit. Like a few % per annum? Plus mine still need to lock for 25 yrs...gosh..

 

[maikichai]

Buy insurance is for protection, if want investment and buy ILP, just buy ETF or Mutual Fund can already on dollar cost averaging method. If want insurance, just buy term insurance to lower the cost COMPARED to ILP.

DO not trust the projected returns, it 99% never hit wan.

 

[champion09]

Hi everyone I have been approached by a GE FA for this ILP. The returns are 20% per annum and it works because they are using a dividend extraction strategy.

anyone heard of this or also bought same plans? So far from the screenshots shared it looks good leh.

its not princpal guaranteed, you can gain 20% but you can also lose 20%. Underlying products should still be funds.

You ask the FA, if lose capital who pay. If FA is a SHE, ask her per shot how much.

 

[Phen8210]

You tell the FA if you put in 100k, can up ma? Then you **** the FA. After that during the 14 day free look period you cancel your policy.

rly works ah? i nver try fa before sia, maybe time to approach some.

 

[askxyz]

always heard ILP is poison. if want for investment, might as well ownself invest

 

[Lonewolf83]

Haven’t buy yet but considering because he showed me this excel by year 3/4 the dividends extracted will be able to cover all premiums, so it’s basically paid for after 3 years.

This excel is based on simulation of best case scenario.
I will touch abit on the dry part:
Say you pay $1k per month and all goes in buy unit trust.
Sep unit trust cost $5, you get 200 units
Oct unit trust cost $6, you get 166.666 units
Nov unit trust cost $4, you get 250 units
So on and so forth

So over the years, you accumulate the unit trust religiously at different price cost, which your FA will tell you this is cost averaging.

but at the end of the day, what matters most? Price of the unit trust when you decide to sell all of the unit trust.

Personally, don’t be bought in by the hype by the FA.
Remember, end of the day, he have a motive and that is to earn your money. Nothing wrong with a ILP, it allows newbie to invest in unit trusts at a lower bar. But sadly too many FA had packaged it as a wonder product which will make you rich.

I rather you buy a whole life policy, critical illness plan and hospitalization plan first. After that learn how to invest for yourself in stocks and shares.