Financial: The useless ILP, & how to go about terminating it

[Windwaver]

ilp is maciam stock market, u need to time entry esp if its one lump sum.

 

for me the ilp works becos i put in monthly

 

my own eg: after 10 yrs of 100 / mth => i get 15k cash out, with 4k left inside the ilp which stills cover me for 50k death benefits

 

issue is when u buy a fund, its not performing, switch. ur FA will not offer it to you. insituition provide semi annual summary of how much u put in vs actual cash $$

 

Yeah, but then don't forget you still need to pay $100 monthly. The $100 monthly can get you a very good term coverage and don't expect that ILP to make money; it wouldn't.

 

$4.10 monthly can get you covered $100K for death, use that $95.90 on a high yield deposit or SSB.

[Lala81]

every time i go bank, the staff always try to talk me their 3rd party endowment plans or investment plans...really bth

 

Nowadays banks not making as much $ from traditional loans. So do all these other sidelines lor.

I wish saf comes out with hospitalisation insurance

 

next time after your boys enlist liao. Quickly ask them buy more SAF term insurance in their 20s before they get diagnosed with other issues.

[BanCoe]

What so special about this article? I think all insurance companies are like that, not just AIA.

 

Its just the way they projected ... anyhow... and the solutions are screwed up too....   Maybe you are lucky..  you seem to know everything 

Why was it worthy of the newspaper article, then??

 

Anyway I'm just sharing only.... since the topic is on Insurance   

[Sunny]

Nowadays banks not making as much $ from traditional loans. So do all these other sidelines lor.

 

next time after your boys enlist liao. Quickly ask them buy more SAF term insurance in their 20s before they get diagnosed with other issues.

 

 

Insurance companies are trying very hard to get more "funds"

 

even offering plans with coverage upto grandchild/ren 

[Mustank]

Nowadays banks not making as much $ from traditional loans. So do all these other sidelines lor.

 

 

next time after your boys enlist liao. Quickly ask them buy more SAF term insurance in their 20s before they get diagnosed with other issues.

Actually I bought my saf insurance after coming out to work

But that time still healthy so ok

Good thing is saf insurance allows NSmen to buy

Saf insurance is really the best

Just like the good old saf black socks

10 years won’t spoil one

[Solar]

That's quite an accurate estimate.

 

my wife held the ILP for about the same amount of time and lost that amount as well. but we just treat it as an expensive lesson/insurance for those years.

I held mine for about 10 years and when I surrendered, I lost about 12k.

 

Knn.. didn't know about this until i stumbled upon a complaint thread in a forum.

Even thought I could make the projected 3.5% back then. Didn't know could end up in a loss

Wrong expectation all along.

 

Edit. 15 years ilp lost 12k

Edited October 11, 2017 by Solar

[Kusje]

Its just the way they projected ... anyhow... and the solutions are screwed up too....   Maybe you are lucky..  you seem to know everything 

Why was it worthy of the newspaper article, then??

 

Anyway I'm just sharing only.... since the topic is on Insurance   

 

I don't know everything that's why I am clarifying with you mah.

 

To my knowledge, what AIA did is what every agency is doing/has been doing and will continue to do unless someone stops them. Why there is a news article on it, I also dunno.

[Kusje]

Actually I bought my saf insurance after coming out to work

But that time still healthy so ok

Good thing is saf insurance allows NSmen to buy

Saf insurance is really the best

Just like the good old saf black socks

10 years won’t spoil one

 

Frankly, other term insurance also not much worse than SAF insurance lor.

[Lala81]

I held mine for about 10 years and when I surrendered, I lost about 12k.

 

Knn.. didn't know about this until i stumbled upon a complaint thread in a forum.

Even thought I could make the projected 3.5% back then. Didn't know could end up in a loss

Wrong expectation all along.

 

sometimes it's luck.

 

My wife had 2 ILP

1 was only 10k investment single premium, she managed to get back additional 500 dollars after 8 years. This was in an stock-bonds fund.

the one i mentioned was ironically in a bond fund which was supposed to be conservative and protect $. But lost about 8k after 8 years after putting in close to 22k.

[Solar]

"

haha, my dad "told off" one staff, He said not interested, but he or she kept badgering him, and said that the returns were "guaranteed". why not uncle, you invest?

which my dad replied, if so good why don't you also invest in it yourself? the staff then replied that he/she didn't have enough money.

 

dad then replied, ok why not i make you a deal. I come up with the capital, whatever we earn, we split the earnings equally, but if lose, you bear it 100%, since you said guaranteed, it is very safe for you with no risk. After that, not a single word anymore.

The last one I met didn't dare to commit a guarantee in writing.. And she left me alone.. And i got my free ice cream for spending 3 minutes with her

[Lala81]

AIA recently a lot of roadshows after hiring all these agents. Safra punggol has one every weekend, when we go there for yamaha. 

 

Give my boy those animal balloon, then my wife has to sit down and listen. She kana twice in one week, after going to a mall also with the kids. Kana ambushed haha 

[Galantspeedz]

The last one I met didn't dare to commit a guarantee in writing.. And she left me alone.. And i got my free ice cream for spending 3 minutes with her

[Solar]

from her, with her or by her?

Walao bro.. Nowadays still have that kind of kang tau meh

[Mkl22]

AIA recently a lot of roadshows after hiring all these agents. Safra punggol has one every weekend, when we go there for yamaha. 

 

Give my boy those animal balloon, then my wife has to sit down and listen. She kana twice in one week, after going to a mall also with the kids. Kana ambushed haha 

 

yeah... nothing is for free!!!

[Windwaver]

The last one I met didn't dare to commit a guarantee in writing.. And she left me alone.. And i got my free ice cream for spending 3 minutes with her

[Galantspeedz]

Walao bro.. Nowadays still have that kind of kang tau meh

[Mustank]

Frankly, other term insurance also not much worse than SAF insurance lor.

Saf is the cheapest

I held mine for about 10 years and when I surrendered, I lost about 12k.

 

Knn.. didn't know about this until i stumbled upon a complaint thread in a forum.

Even thought I could make the projected 3.5% back then. Didn't know could end up in a loss

Wrong expectation all along.

 

Edit. 15 years ilp lost 12k

Wah! Your worse than mine

Mine is 18 years lost 7k

Every year is 2k

Premium

Now got extra money I put in kiddo cpf

[Solar]

What kind of "ice cream" you referring to? Can eat kind or for the eyes only

Roadshow at kovan where they give fried ice cream.. don't have millions to warrant the other kind la bro