Old Ntuc Foundation policy

[Devilsire]

Have this old policy (bought by parents, transfer to my name and neglected ), believe it to be something like endowment other than it being converted to paidup due to non-payment of premiums since 2008

Premium: $16.90 / $202.80/y
Policy term: 47years
Entrydate: 1988
Enddate: 2035
Converted into Paidup (Reduced SA) status 2008
Estimated premiums paid: 2008-1998 = ~$4056

Sum assured $5965
Bonus $7773
Net cash value $8955

Am i right to say,
1) Net cash value $8955 is the estimated amount if i were to surrender policy now
2) if i hold it to maturity 2035, i will get $5965+7773 = $13738?
3) Will bonus part change, or become 0 if anything happens during maturity?


Thanks all

 

[lzydata]

Although it is best to look at the policy terms and conditions and ask NTUC...

1) Net cash value $8955 is the estimated amount if i were to surrender policy now

Yes

2) if i hold it to maturity 2035, i will get $5965+7773 = $13738?

No - sum assured plus bonuses is what you will get if you claim the policy now. If you hold to maturity, since it has an investment component, it depends on what it is worth at the time.

3) Will bonus part change, or become 0 if anything happens during maturity?

No, will not change, but see (2) above

 

[Devilsire]

Although it is best to look at the policy terms and conditions and ask NTUC...

1) Net cash value $8955 is the estimated amount if i were to surrender policy now

Yes

2) if i hold it to maturity 2035, i will get $5965+7773 = $13738?


No
- sum assured plus bonuses is what you will get if you claim the policy now. If you hold to maturity, since it has an investment component, it depends on what it is worth at the time.

3) Will bonus part change, or become 0 if anything happens during maturity?

No, will not change, but see (2) above

Thanks alot for useful infos. From what I observed from several past statements, the Net cash value seems to be gaining 3.5-7% annually. So I guess it's best to hold for the attractive rates given times now?

Probably I'll need to enquire NTUC on the bonus claim eligibility part as its a very old policy and there's no policy terms & details available for download online

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