Regarding ILP

[Rilapuma]

If i take up an ILP, can i stop the regular monthly premiums and keep the units bought? I am not talking abt a premium holiday but totally stopping the premiums and let the units grow

Something similar to POSB invest saver where you can terminate the RSP and hold onto the stock

 

[Lewis.T]

Your units will be used to pay for the insurance coverage. Some companies let you lower the sum assured to 0, but monthly fees etc may still apply.

It's possible if you already have a sizeable amount of units in it, and it can outgrow the cost of the coverage.

 

[Aerial86]

If i take up an ILP, can i stop the regular monthly premiums and keep the units bought? I am not talking abt a premium holiday but totally stopping the premiums and let the units grow

Something similar to POSB invest saver where you can terminate the RSP and hold onto the stock

If you are thinking of doing that, I would suggest that you do a DIY or find a FA to do UT investments. Holding ilp funds is not going to do you much good.

 

[SpinFire]

Don't ever get ILP!

I looked through a recent ILP statement of a policy my parents bought 15 years back. Until now, it is still about $3k underwater. I also realize they have a sales charge of 5% of the mutual fund units bought annually. I'll be terminating it soon, the charges are too exorbitant!

Just get a term insurance ($100k coverage for ~$250-$300 a year) and start a RSP with Fundsupermart (no sales charge). You save a LOT of fees.

Can take a look at INFINITY GLOBAL STOCK INDEX. It basically buys the Vanguard Global Stock Index Fund.