Term till 99 for Legacy

[blurpandasg2014]

Recently, I was marketed term till 99 as a way to leave legacy. Is it really an effective way to pass down generational wealth?

I ran a quote from comparefirst
(Male,NS, 1 million till 99), cheapest premium for age band

Age 10: 1148/yr (FWD) - IRR: 4.96%
Age 30: 2408/yr (AXA) - IRR: 4.37%
Age 50: 9192/yr (AXA) - IRR: 3%

Returns based on insured passing slightly before 99th birthday

Any thoughts?

 

[boredboiboi]

Recently, I was marketed term till 99 as a way to leave legacy. Is it really an effective way to pass down generational wealth?

I ran a quote from comparefirst
(Male,NS, 1 million till 99), cheapest premium for age band



Any thoughts?

Its all boils down to individual. Have is bonus. Dont have also like that. Just ensure dependents got enuf before any premature death, after that anything is bonus.

 

[ExEngineer]

Recently, I was marketed term till 99 as a way to leave legacy. Is it really an effective way to pass down generational wealth?

I ran a quote from comparefirst
(Male,NS, 1 million till 99), cheapest premium for age band



Any thoughts?

Works as long as you’re comfortable committing suicide at 98…

 

[reddevil0728]

Recently, I was marketed term till 99 as a way to leave legacy. Is it really an effective way to pass down generational wealth?

I ran a quote from comparefirst
(Male,NS, 1 million till 99), cheapest premium for age band



Any thoughts?

so this is term life?

 

[xtwis7]

If you have the means, a UL in USD/SGD will save you more money than term till 99.

 

[winthony]

Have you considered the possibility you will live beyond 100? if you actually do, then all these planning would go down the drain

Anyway like what xtwis mentioned, going for UL would be better than a till 99 term, financially.

 

[tangent314]

Not the first time we see someone come here and ask about this kind of plan given by their insurance agent.
It's a terrible plan because if you live beyond the age of 99, your beneficiaries get nothing.

 

[BBCWatcher]

If it's truly a term life insurance plan to age 99. That sort of policy is illegal in many places for hopefully obvious reasons, but "Welcome to Singapore." There are also some policies that are actually whole life policies but with a "premature" payout at age 99 if you live that long.