PRUlife multiplier flex

[rick_seah]

if you are looking for such plans, you may want to have a comparison of Manulife plan. my wife and i are also looking to buy such plan and found Manulife to be competitive priced.

 

[akwl88]

you need to know what is your rationale to purchase insurance

200k coverage for death and tpd i will tell u it is insufficient if u have mortgage loan and dependents

if u want purchase this as an investment, look at the total premiums paid vs the guaranteed returns you will be getting and see if u are satisfied with the numbers

 

[akwl88]

an easy way to think of it is, what happen if u pass on tmr?

is the 200k sufficient for your family?

your agent will not tell you this point as his/her mind is only on the annual premiums

 

[AhBui168]

if you are looking for such plans, you may want to have a comparison of Manulife plan. my wife and i are also looking to buy such plan and found Manulife to be competitive priced.

Bro can you post the doc on here of manulife insurance?

 

[AhBui168]

an easy way to think of it is, what happen if u pass on tmr?

is the 200k sufficient for your family?

your agent will not tell you this point as his/her mind is only on the annual premiums

Bro. I have no choice.
If i bring up the premium, the monthly premiums need to pay more...

Currently $280+ to me is already expensive

Anyway agent just want commission only.

 

[AhBui168]

you need to know what is your rationale to purchase insurance

200k coverage for death and tpd i will tell u it is insufficient if u have mortgage loan and dependents

if u want purchase this as an investment, look at the total premiums paid vs the guaranteed returns you will be getting and see if u are satisfied with the numbers

Bro i dont think this can treat it as investment...
Cause all the way we are lugi one...

 

[akwl88]

Bro. I have no choice.
If i bring up the premium, the monthly premiums need to pay more...

Currently $280+ to me is already expensive

Anyway agent just want commission only.

so u have to compare btw term and whole life

term is purely insurance which is very affordable with high coverage and low premiums

whole life mixes insurance with investment, hence the high premiums, low coverage and non-guaranteed returns

 

[computers70]

so u have to compare btw term and whole life

term is purely insurance which is very affordable with high coverage and low premiums

whole life mixes insurance with investment, hence the high premiums, low coverage and non-guaranteed returns

really depends bro, it must be affordable to you. you will have to pay for 10 years.
Coverage increase and decreases according to your life goals, you can always buy more life policies when you need.

 

[akwl88]

really depends bro, it must be affordable to you. you will have to pay for 10 years.
Coverage increase and decreases according to your life goals, you can always buy more life policies when you need.

the higher ur age, the more exp the costs

 

[anfielder]

Bro. I have no choice.
If i bring up the premium, the monthly premiums need to pay more...

Currently $280+ to me is already expensive

Anyway agent just want commission only.

Just get term insurance, and ignore agents who recommend endowments or ILP. You can have a high coverage for less than $280 per month.

Limited pay plans also have higher premiums in the first place because you're paying the insurance costs over a shorter period of time.

 

[oceanicmanta]

@ahbui168
I calculated the IRR, if you hold for
- 40yrs, the IRR is 2.013%
- 45yrs, 2.326%
- 50yrs, 2.457%
note: these are based on NON GUARANTEED SURRENDER VALUE under higher 4.75% projection

FYI. SSB 10yr is around 2.05% GUARANTEED. So purely from Savings perspective, there are ready alternatives.

As for protection, whether 200k is sufficient is up to you. You can also increase coverage later in life. But certainly a Term policy for someone your age will be much lower cost.

 

[AhBui168]

@ahbui168
I calculated the IRR, if you hold for
- 40yrs, the IRR is 2.013%
- 45yrs, 2.326%
- 50yrs, 2.457%
note: these are based on NON GUARANTEED SURRENDER VALUE under higher 4.75% projection

FYI. SSB 10yr is around 2.05% GUARANTEED. So purely from Savings perspective, there are ready alternatives.

As for protection, whether 200k is sufficient is up to you. You can also increase coverage later in life. But certainly a Term policy for someone your age will be much lower cost.

So do you think is worth to buy?

 

[oceanicmanta]

So do you think is worth to buy?

No, I would not buy. Especially if you dont have Term, or hospitalisation insurance now.

Dont depend on insurer's for savings although it is easy to do so.

For Savings, check out POSB's promo for 30yo and below, pays 4% over next 2 years !
https://www.dbs.com.sg/personal/byob.page?pid=sg-dbs-pweb-home-heroblock-others-byob-btnfindoutmore

Also discussed here http://forums.hardwarezone.com.sg/money-mind-210/dbs-savings-promo-4%-interest-5651012.html

Or go ATM to press SSB, min $500, available every month.

 

[AhBui168]

No, I would not buy. Especially if you dont have Term, or hospitalisation insurance now.

Dont depend on insurer's for savings although it is easy to do so.

For Savings, check out POSB's promo for 30yo and below, pays 4% over next 2 years !
https://www.dbs.com.sg/personal/byob.page?pid=sg-dbs-pweb-home-heroblock-others-byob-btnfindoutmore

Also discussed here http://forums.hardwarezone.com.sg/money-mind-210/dbs-savings-promo-4%-interest-5651012.html

Or go ATM to press SSB, min $500, available every month.

Im currently having Prushield and ns aviva plan only.

Thats why i plan to get an wholelife plan for protection

 

[anfielder]

Im currently having Prushield and ns aviva plan only.

Thats why i plan to get an wholelife plan for protection

Whole life = savings + protection. And you get poor returns for the savings part.

You want protection, go for term.

 

[akwl88]

Im currently having Prushield and ns aviva plan only.

Thats why i plan to get an wholelife plan for protection

Whole life mixes insurance with investment

Outcome is rojak - low coverage and poor returns

 

[oceanicmanta]

Whole life mixes insurance with investment

Outcome is rojak - low coverage and poor returns

Agree.

If your objective is Protection, then WL is an expensive form of protection.

 

[AhBui168]

Whole life = savings + protection. And you get poor returns for the savings part.

You want protection, go for term.

But everyone say can't save anything, is an investment

 

[AhBui168]

I can't make decision...

 

[AhBui168]

Here the doc: