WHOLE LIFE POLICY HELP

[Newbs90]

Hi brothers and sisters,

can someone advice on the various life policies in the market? would like to know what are the types that should be avoided and those that can be considered.

 

[foxer77]

i only believe in medical type. rest of investment policy that promise.to yeild good intrest i rather invest myself.

 

[akwl88]

Term and hosp plans enough liao

Dont mix investment with insurance

 

[chekchek]

My wife know nuts in investing and as such prefer to buy whole life. Anyone?

Sent from Xiaomi MI 4I using GAGT

 

[chopra]

ignore all whole life. A L L.
to the LAYMAN, whole life = term plus fixed deposit

jus buy term and hosp

 

[akwl88]

My wife know nuts in investing and as such prefer to buy whole life. Anyone?

Sent from Xiaomi MI 4I using GAGT

if you are comfortable to pay high premiums, lock in your money for long period of time, pay for low coverage and received mediocre returns, by all means go ahead

 

[cscs3]

ignore all whole life. A L L.
to the LAYMAN, whole life = term plus fixed deposit

jus buy term and hosp

Problem with these while life policy is you never know when will the insurance company change their terms and condition. Already happen so many times in this industry. The long it goes. The higher the risk you take.

 

[Maeda_Toshiie]

My wife know nuts in investing and as such prefer to buy whole life. Anyone?

Sent from Xiaomi MI 4I using GAGT

Might as well buy government bonds.

 

[computers70]

Hi brothers and sisters,

can someone advice on the various life policies in the market? would like to know what are the types that should be avoided and those that can be considered.

As far as life policy in concerned there could be 2 kinds pay and pay or limited pay.
Pay and pay usually will have to pay till your lifetime. Some do give out dividends or some are denominated in US dollars. They are usually cheaper.

limited pay, you will pay for 12 years or 25 years(depends of the company) you will get coverage for a lifetime. They are more expensive as you are paying for coverage upfront.

 

[computers70]

Might as well buy government bonds.

true returns are the same or plus/minus. But life policy got abit of coverage.

 

[henrylbh]

Hi brothers and sisters,

can someone advice on the various life policies in the market? would like to know what are the types that should be avoided and those that can be considered.

What if you outlive you insurer?

 

[computers70]

What if you outlive you insurer?

Hmm, basically policy last till 100, which then will terminate and you will get the sum.
If you insurer goes bust than .....

 

[kannis_ng]

Dun be silly

a scam

Buy saf

 

[badsector]

Hi brothers and sisters,

can someone advice on the various life policies in the market? would like to know what are the types that should be avoided and those that can be considered.

so long the policy has surrender value.
avoid!

 

[deepblueli]

My thought is that you don't buy insurance for its cash value or investment but only for its coverage, be it WL or terms. Don't think of ever getting your cash back by surrender it, i.e. insurance is purely for protection.

The difference between WL and term is WL covers for wholelife (or up to 99 years old) and terms covers for specific term. WL plan also have limited pay option that you only pay premium for X years unlike term insurance that you are expected to pay until the term finishes.

 

[akwl88]

My thought is that you don't buy insurance for its cash value or investment but only for its coverage, be it WL or terms. Don't think of ever getting your cash back by surrender it, i.e. insurance is purely for protection.

The difference between WL and term is WL covers for wholelife (or up to 99 years old) and terms covers for specific term. WL plan also have limited pay option that you only pay premium for X years unlike term insurance that you are expected to pay until the term finishes.

have to compare the coverage amt and premiums also

WL coverage is pathetic for high premiums

 

[deepblueli]

have to compare the coverage amt and premiums also

WL coverage is pathetic for high premiums

Yes, need to compare the sum assured and premium and also coverage period but essentially both WL and Term have the same underwriting, the only main difference is the pricing and coverage period.

 

[rain_bow]

Hi brothers and sisters,

can someone advice on the various life policies in the market? would like to know what are the types that should be avoided and those that can be considered.

avoid ILP at all costs..

can consider Life and Term

 

[Bigoya]

Current hottest WL in the market would be Manulife's LifeReady.

 

[sg_investor]

Can insurance companies change the terms? I thought an insurance is a contract.

Problem with these while life policy is you never know when will the insurance company change their terms and condition. Already happen so many times in this industry. The long it goes. The higher the risk you take.