NTUC term insurance discussion

[soneat]

Urmm . . Friend seems like you also not very sure of your policy. Terminal bonus will kick in after x years. Terminal bonus is applied on top of your accumulated bonus. Your protection value and cash value increases due to these bonus. How many years is your payment term for your limited payment policy and how long have you paid?

 

[OngHuatHuat]

10 years term. Already paid 6 years. Left 4 installments only.

No terminal bonus for my policy, only performance bonus. It is illustrated on the picture I uploaded previously. Performance bonus as a percentage of reversionary bonus.

No wonder I see the policy value rises so far towards the end, coz the performance bonus for early year are very low, from third year onwards, every year increases 10 %.

It will be at a peak of 240 when the policy reaches 20th year. Then goes down to 200 % from 26th year onwards.

My current reversionary bonus is at 3500.

I think your advice makes sense, if I chose to surrender at later date, my benefit will be much greater.

Urmm . . Friend seems like you also not very sure of your policy. Terminal bonus will kick in after x years. Terminal bonus is applied on top of your accumulated bonus. Your protection value and cash value increases due to these bonus. How many years is your payment term for your limited payment policy and how long have you paid?

 

[OngHuatHuat]

This table. So every year I will definitely receive 850 dollars + 19/1000 = 1.9 % on accumulated reversionary bonus.

 

[soneat]

This table. So every year I will definitely receive 850 dollars + 19/1000 = 1.9 % on accumulated reversionary bonus.

Unless the insurer revised the structure, else loosely speaking it is a yes for your interpretation of annual bonus. For terminal bonus, the stated % will be applied to whatever accumulated value.

If u r certain you want to terminate, do so at the anniversary. Else if you want to give your policy a chance to live on, then I will try to explain more.

 

[OngHuatHuat]

Unless the insurer revised the structure, else loosely speaking it is a yes for your interpretation of annual bonus. For terminal bonus, the stated % will be applied to whatever accumulated value.

If u r certain you want to terminate, do so at the anniversary. Else if you want to give your policy a chance to live on, then I will try to explain more.

I think if I buy term now, also not very cheap.
Think will just stay on.
I didn't know the term with CI can be so expensive for my age and I am not considered very old.

 

[soneat]

I think if I buy term now, also not very cheap.
Think will just stay on.
I didn't know the term with CI can be so expensive for my age and I am not considered very old.

I suggest going through my initial post seriously give it a good thought. You would also need to understand your policies a bit better to understand if it will and how it will fit into your planning.