NTUC Living Policy Surrender

[Kusanagi]

Hi guys, I have 2 NTUC Living Policies

Policy 1: Started 1999
Duration: 73 years
Coverage: $80,000
Premium: $1,238 annually
Cash Value:$39,391.53

Policy 2: Started 1996
Duration: 76 years
Coverage: $75,000
Premium: $920.15 annually
Cash Value: $38,297.85

I’m intending to cash out 1 of the policies to purchase an annuity plan with Manulife (Signature Income) 42k + 108k premium financing

Would anyone please be able to advise which of the 2 I should surrender?

 

[boredboiboi]

Hi guys, I have 2 NTUC Living Policies

Policy 1: Started 1999
Duration: 73 years
Coverage: $80,000
Premium: $1,238 annually
Cash Value:$39,391.53

Policy 2: Started 1996
Duration: 76 years
Coverage: $75,000
Premium: $920.15 annually
Cash Value: $38,297.85

I’m intending to cash out 1 of the policies to purchase an annuity plan with Manulife (Signature Income) 42k + 108k premium financing

Would anyone please be able to advise which of the 2 I should surrender?

Don’t surrender. This 2 plans return is wonderful.
Premium financing by dbs banker? Try not to do that.

 

[reddevil0728]

Old plans always better returns. May want to consider.

If really need to surrender, maybe check out if ppl want to buy over. Got such a thing.

 

[Kusanagi]

Don’t surrender. This 2 plans return is wonderful.
Premium financing by dbs banker? Try not to do that.

By RHB, can share why not advised?

 

[Kusanagi]

Old plans always better returns. May want to consider.

If really need to surrender, maybe check out if ppl want to buy over. Got such a thing.

Thanks, shall check it out

 

[boredboiboi]

By RHB, can share why not advised?

The rate is floating. And return is not fix. On premium financing, to see actual return and break even. U need at least more than 10 or 15 years. Because first few years u r paying the interest for nothing. The living policy can convert yo annuity which is a better option.

 

[SBC]

Don’t surrender. This 2 plans return is wonderful.
Premium financing by dbs banker? Try not to do that.

Yes, dun surrender.

Best returns. I am holding 2 NTUC LP too.

 

[xtwis7]

Are you able to cough up the down payment for the financing?

Wouldn’t recommend touching those policies since they’re well in the money and surrendering them for a leveraged annuity just looks like you’re restarting your investment cycle.

And there are other competitive single premium annuities with financing. If you need a second opinion; more than glad to provide you with one especially if financing attracts you.

 

[SBC]

Looks like TS is close to 50’s age.

 

[BlueRobin]

The living policy can convert yo annuity which is a better option.

What kind of annuity plans available for this conversion? Any details? Thanks!

 

[fluffydream]

Also have 1 LP. Yes hold tight onto it or look for others who is v willing to buy it at higher price than surrender values

 

[boredboiboi]

What kind of annuity plans available for this conversion? Any details? Thanks!

Have to call in or check with the agent. Nv sold before as its not in my era. Seen the plan before, the return is wonderful. And only can convert to 1 type of annuity.

 

[blurpandasg2014]

Surrender to me, I will take over