Am I seeing things? guaranteed portion less than premiums paid?
wht kind of cheezypie is dis?
do u still hav the original policy?
check whether the surrender value now as shown in yr img against the original policy. does it differs much?
in best case scenario, get back $69124 is abt 2.56% returns over 20-21 yrs which is at best, matching inflation only.
however, if u surrender now, and yr intention is to have the sum of abt $69k at the end of 2024, u will hav to find an investment instrument of annualised returns 12-13%, which is not easy.
The question is will i really get that S$69k...if so, then i will wait for maturity. No point surrendering now, because it almost near the end. The lost will be bigger if i surrender now.
***
IMPORTANT NOTES AND ASSUMPTIONS
This revised benefit illustration does not form part of the contract. This serves as a supplement to your existing benefit illustration.
The values in the illustration are only estimates, which are based on the current method of computing policy values. The actual values may be higher or lower. While every
care has been taken in the preparation of this illustration, it is subject to correction and confers no legal right.
As the bonus rates used for the values in this illustration are not guaranteed, the actual values will vary according to the future experience of the Participating Fund. The
values in this illustration are computed based on current bonus rates. Bonus rates are normally reviewed at least once a year and new bonus rates are announced in April of
each year. The projected values may change following a bonus announcement. The company may change the announcement date or make more frequent bonus
announcements if necessary.
This illustration was prepared based on the following assumptions:
1. That no Automatic Premium Loan (APL), Policy Loan or Surgical and Nursing Loan has been taken during the lifetime of the policy. For avoidance of doubt, all features
referred to as Premium Protector or Automatic Non-Forfeiture Loan in any of the documents or materials that have been or will be sent to you shall have the same effect as
an Automatic Premium Loan. Please note that an Automatic Premium Loan or Policy Loan, if triggered, will affect the projected values.
2. That bonuses encashed in the past, if any, are no longer part of the policy and are not included in the Death Benefit and Surrender Value.
3. That no policy transactions such as encashment of bonuses, loans, partial surrenders, etc. are made in the future.
4. That premiums continue to be paid throughout the premium paying period indicated in the policy contract.
5. That "Basic Premiums Paid" is illustrated based on the current premium of the basic policy only. It excludes premium received on Riders, if any.
6. That CashBack / Cash Benefit withdrawn in the past, if any, is no longer part of the policy and hence is not included in the Death Benefit and Surrender Value.
The illustrated values include accumulated CashBack / Cash Benefit to-date, future yearly CashBack / Cash Benefit and accumulated interests. The illustration assumes that
the projected CashBack / Cash Benefit interest rate is 3.00 % p.a. The interest rate is not guaranteed and is subject to change.
***
These were the exact words they gave when they reply me with the projected maturity.
