Prudential and its irritating agents

[Windwaver]

if you read my previous post, you would know that I am not in the pink of health ... quite high risk according to some insurance agents that I asked. Even my regular broker also could not bring himself to sell me a policy due to my conditions and the loadings.

 

I am not sure if I can make it the next 25 years or not ... I am 47 but my boy is only 2 this year ... and the next 25 years are going to be very crucial just in case I don't make it.

 

as for the 99 years old thingy, that is just an added plus ...  30 years of additional "free coverage" ... whereas other policies would have nothing after 70 years old - why not ?

 

and the best part - If by some "whatever", I become a centurion, I will still be paid the $250k+ bonuses !! so no matter what, I am supposed to get the $250k + ... as long as I pay my premiums till end of payment contract.

 

I am a late bloomer ... 47 this year ... son only 2. by the time I am 65, he still NS ... I will definitely need to worry ...

 

Hmmm, by 65, your boy is 20, not out of university yet, guess there is some cause for concern.

 

If it makes you feel safer, just go ahead but just don't over insure for nothing. Remember, all those money you pay for insurance can also be use for your boy.

[Kusje]

@mustank just got this brochure while waiting at the road side..

 

You can try calling them too and let us know if you get any offers that are better than what the insurance will pay if you cancel. I've always been wondering if they can offer much more...

[Mustank]

@mustank just got this brochure while waiting at the road side..

 

You can try calling them too and let us know if you get any offers that are better than what the insurance will pay if you cancel. I've always been wondering if they can offer much more... 20170511_121811.jpg

Thanks for letting me know

I think is probably ask you to surrender policy then use the money to "invest" in their so and so "investment"

If they are not going to state up front what they are offerring, I am just going to presume they are selling some "investment"

 

I am contemplating to take out both mine and my kids policies at a loss and put the money in my children sa account

I should have trusted cpf more

As for insurance, I will just buy more term from saf

 

If years ago, I have invested in the kids oa and sa account; while insuring using saf group term insurance, I would not have wasted 10k

[Kusje]

I don't think so leh.

 

I think they will somehow buy over your policy giving you $$$ or $$$ to put back into your cpf. 

 

But I haven't called them before .

[Jamesc]

dun worry ... COE due in another 5 months ...then no more car liow ... anyway car was bought with cash ...

 

saving $10k a year is not really easy ... lots of commitment ... already paying about $12k a year for my family's policies ... and sole breadwinner ... 2 yr old kid ... not easy .... in fact past 3 years bank account went down abit instead.

 

but experience has taught me to bite the bullet when it comes to insurance matters .... as I have made claims before and it really helped a lot ! dad clocked almost 20k in hospital bills last year but after medisave, only paid very little.

 

ppl won't believe me but all the policies that I bought are actually sourced by myself ! most ppl fear and dread being sought by insurance agents .... but for me, I went out to find the agents instead !

 

Me too. I went out to find the chio ones. 

 

All the same price might as well get the chio 

 

ones. That was my reasoning. 

 

[Mustank]

I am definitely going to do this

http://www.straitstimes.com/business/invest/6-little-known-facts-about-the-cpf

 

Should have done this years ago

Better late than never!!!!!

[Volvobrick]

I am definitely going to do this

http://www.straitstimes.com/business/invest/6-little-known-facts-about-the-cpf

 

Should have done this years ago

Better late than never!!!!!

 

Putting housing loan money back into CPF to earn higher interest rates (at least 1% higher than mortgage rates) makes sense if one is nearing 55 and can withdraw out again in a few years.  For younger ones, it may limit their investment options though.