.... I finally woke up and realised how the protection part was rapidly eating into the remaining units of the Investment part and can seriously deplete the investment value over multiple bear markets. So I bite the bullet and terminated the ILP at loss.
Read? Shocking Discovery On My ILP
Read? More articles on insurance
Study the long-term financial planning model below.
Think very carefully how should we plan for our long-term needs for income, risk management (insurance coverage), and growth solutions during our different stages of working life and after our retirement.
Good model. This is definitely worth your time and effort to study it very carefully!
For Risk Management and Growth solution, once we made some very serious mistakes and locked in negative return; it is very difficult to recover without pumping even in more money.
Posts
Look at the model.
ReplyDeleteDoes Whole Life meet the Risk Mgmt solution over our life time?
Many years ago, after selling me 2 whole life policies and 1 endowment policy, my NTUC Income agent called me up and tried to persuaded me to buy one ILP from him.
ReplyDeleteI told him to fly kite.
Regards,
SG Web Reviews
www.sgwebreviews.blogspot.com
I don't find ILPs to be worse than whole life as I believe the reverse to be true in many circumstances. And the inverse of the previous statement is true.
ReplyDeleteGreatsage made me chuckle a bit. Lol
For ILPs, their seriousness of impact will largely depend on the size of future Bears. LOL!
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