Should I surrender my ILP?

[neanea]

Looks like 99.9% lose money from ilp? Why such product is still allowed on the market?

 

[akwl88]

Looks like 99.9% lose money from ilp? Why such product is still allowed on the market?

Because can suck money from consumers

 

[neanea]

Because can suck money from consumers

Why MAS never step in?

 

[akwl88]

Why MAS never step in?

Got profit to make, step in for?

Gambling also legalise online

 

[Metrix]

ILP are a bad idea. Cost high, insurance low, returns low and not guaranteed.

Even Dr Haverkemp says so on the ST. Insurance is not for investment.

However his articles appear on the back page of classifieds so you can't see them online. I wonder why?

If you can understand your ILP and pick your own funds, then you can also invest yourself for better returns - SGX, fundsupermart etc. If you don't understand the ILP then you shouldn't buy it.

Its better to cancel early, because the sunk cost is not high.

 

[Steyr69]

I am focusing on wealth accumulation.

Wealth accumulation for your agents.....yes.

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[Steyr69]

I contacted my agent (Great Eastern). She recommended to keep the plans going if possible.
If it's too much to commit, then lower the premiums.

Expected answer.....she yet to leech gao gao on your premiums....n she views u as her big fish kum gong client.

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[Steyr69]

Cancel 2, 3 , 4 now......u wont regret.

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[dolph001]

Hi. I would like to seek advice as I feel that I am over insured.

1. Smart protect (2012)
Sum insured 100k
$200/ month

2. Life ( 20 year) ( 2015)
Sum insured 100k
$2977 per year

3. Manulink enrich (2015)
Sum insured 21k
$5000 per year

4. Manulink flexi (2014)
Sim insured 100k
$4200 per year

You are insured for 321k only.
I would say severely under-insured.

If you have no pre-existing illnesses, terminate ALL and get a $1,000,000 term policy.

SAF group term only $42/mth for sum insured of $1,000,000

 

[ceciltan]

You are insured for 321k only.
I would say severely under-insured.

If you have no pre-existing illnesses, terminate ALL and get a $1,000,000 term policy.

SAF group term only $42/mth for sum insured of $1,000,000

I support this. Get term life. Cheapest with highest coverage and when it come to claim, usually no dispute.

 

[awful999]

My ILP...premium paid 124.5 charges 41.13...

Sent from noman land using GAGT

Sent from noman land using GAGT

chop chop chop, I am big carrot head

 

[akwl88]

Sent from noman land using GAGT

chop chop chop, I am big carrot head

song 33% charge

compared to brokerage fee.............

 

[dendii]

Indeed. Maybe I should just cancel one of them.

IMO the manulife policies is really a super heavy burden. Almost 10k in premium per year and coverage only 121k ??

With 1) and 2) I think your WL coverage is sufficient already. But you need to get a term to further enhance your coverage during the more critical periods if you have parents/family.

 

[dendii]

sry to hijack ts thread but will also like to have some suggestion on whether to carry on my ILP (prulink protection plus). I am worry that it will be too difficult to break even in the future. Portfolio solution will be based on mercer recommendation, is it really trustable? thanks

What are your plan details? Coverage amount, premium, how many years into the policy already etc.

Do you have any existing illnesses? Any other insurance coverages?

 

[luvalist]

when in doubt just sell.....

woah, that's quite a statement.
I am on the opposite - when in doubt just keep?

anyway no one can decide for you, TS.

 

[awful999]

For ILP, if can better cancel, if not will like me, premium 120, charges 40 plus , you want ?

just brought a term policy and will terminated my ILP ASAP. bye bye ILP, blood scuker

 

[Goldschlager]

What are your plan details? Coverage amount, premium, how many years into the policy already etc.

Do you have any existing illnesses? Any other insurance coverages?

250 per month. no existing illnesses and any other insurance. Started this year April
death 110k
terminal illness 110k
TPD 110k
Crisis cover provider 110k

 

[dolph001]

Sent from noman land using GAGT

chop chop chop, I am big carrot head

more than $41. your premium buys units at offer price. They charge units at bid price

 

[blizzard99]

Your sum assured is really little... For ILP it will really depends on what fund you choose (can check their track record-over long term it must perform)
The focus of ILP should never be based on the insurance side

Hi. I would like to seek advice as I feel that I am over insured.

1. Smart protect (2012)
Sum insured 100k
$200/ month

2. Life ( 20 year) ( 2015)
Sum insured 100k
$2977 per year

3. Manulink enrich (2015)
Sum insured 21k
$5000 per year

4. Manulink flexi (2014)
Sim insured 100k
$4200 per year

 

[awful999]

more than $41. your premium buys units at offer price. They charge units at bid pritce

Ya..today just cancelled my this ILP, will get my money back two week later..