What to do with ILP

[eat.buttercake]

U r now in the 4-6 years where your premium allocation is 102%, i.e. more than what u have put in.
The economy is bad now, most funds might also not perform well in the next few years.
In general, an ILP policy typically take around 10~15 years to breakeven and profit.

U need to know your priority for pursuing ILP, whether u want to continue for it high protection (sum assured) if something was to happen to u or terminate it to invest in other form of better and faster investment return with your $1200/year.

Didn't buy the policy by choice but more like taking over from what my parents bought me hence reviewing them. Is there a sum assured? Isn't the amount kind of volatile since its investments and not savings?

 

[01asdf]

Based on the statement:

1. Global Emerging Markets Fund
2. Global Regional China Fund
3. Golden Singapore Growth Fund
4. Golden SEA Special Situations Fund
5. Pacific Equity Fund

I have no idea how the statement is read as it sound conflicting. Cant post pictures but based in the statement, example of Global Emerging Markets Funds(GEMF):

Balance as at 1 Jul 15, I have 174.12 units of GEMF. Bid price of $1.66410/unit and total value is 289.75.

In between, 73.91 units of GEMF purchased/allocated/bought at $1.65612 = value of $122.40. They also sold/deducted/withdrew 10.61 units of GEMF at $1.56119/unit = value of $16.56.

Balance as at 31 Dec 15, I have 237.42 units of GEMF, bid price of $1.49740/unit and total value of $355.51.

Does that mean they bought the fund at an expensive price and let go at a cheaper price? Is there logic behind it or am I not reading it correctly?

You're reading it correctly.

They use your premiums to buy the funds, then sell part of it off for their commissions/management fees/admin fees etc.

 

[SBC]

It's really not easy to break even or make from an ILP.

2-time experience for such cancellation. First for for my own ILP after 9 to 10 years. Is a Prulink. Made a bit, may be 2-3k. This cancellation was made about 8 to 10 years ago.

Second time is for my wife. AIA ILP. Made 2 to 3k after 12 to 15 years.

 

[Shion]

Based on the statement:

1. Global Emerging Markets Fund
2. Global Regional China Fund
3. Golden Singapore Growth Fund
4. Golden SEA Special Situations Fund
5. Pacific Equity Fund

Someone answered the figures part so I not touch on it.

As for your 5 funds:

Global Emerging Markets Fund
Mgmt Fee 1.5% p.a.
Since inception returns 4.83%
https://www.manulife.com.sg/pdfs/FP_ILP_Manulife_Global_Emerging_Markets_Fund.pdf

Global Regional China Fund
Mgmt Fee 1.65% p.a.
Since inception returns 9.29%
https://www.manulife.com.sg/pdfs/FP_ILP_Golden_Regional_China_Fund.pdf

Golden Singapore Growth Fund
Mgmt Fee 1.65% p.a.
Since inception returns 5.14%
https://www.manulife.com.sg/pdfs/FP_ILP_Golden_Singapore_Growth_Fund.pdf

Golden SEA Special Situations Fund
Mgmt Fee 1.5% p.a.
Since inception returns 4.9%
https://www.manulife.com.sg/pdfs/FP_ILP_Golden_Southeast_Asia_Special_Situations_Fund.pdf

Pacific Equity Fund
Mgmt Fee 0.6% p.a.
Since inception returns 5.12%

I feel the funds too spread out, end up each fund allocated not much money for a significant returns in the future anyway

 

[Whisper]

My life insurance was being converted into an ILP. I have already lost about $4-5k in 10 years. What should I do?

 

[RetRace]

Bite the bullet and cancel it. If it's for investment purpose, diy your own portfolio by buying etfs.

Sent from Samsung SM-G900F using GAGT

 

[Whisper]

Bite the bullet and cancel it. If it's for investment purpose, diy your own portfolio by buying etfs.

Sent from Samsung SM-G900F using GAGT

It's not for investment. Bought it 10 years ago for coverage of critical illnesses. Then last year started to get $100-$200 of payout every 6 months. Checked with my agent what's going on. He said my life insurance was converted into an ILP.

 

[Shion]

Can suka-suka convert without clients knowing it ?

 

[Whisper]

Can suka-suka convert without clients knowing it ?

Unless they auto opt in and need fill up form to opt out and suay suay I overlooked that letter.

 

[Perisher]

Unless they auto opt in and need fill up form to opt out and suay suay I overlooked that letter.

IA/FA would never highlight this part of the deal whereby they can cancel a policy and change it into another without your consent(on the canceling of policy part). This is ridiculous.

 

[Shion]

Unless they auto opt in and need fill up form to opt out and suay suay I overlooked that letter.

IA/FA would never highlight this part of the deal whereby they can cancel a policy and change it into another without your consent(on the canceling of policy part). This is ridiculous.

Unethical ..

 

[FP_IFA]

It's not for investment. Bought it 10 years ago for coverage of critical illnesses. Then last year started to get $100-$200 of payout every 6 months. Checked with my agent what's going on. He said my life insurance was converted into an ILP.

What plan was it? Never heard of life plan convert to ILP before.

 

[Whisper]

What plan was it? Never heard of life plan convert to ILP before.

late CI. my agent just replied saying it all along is ILP.