Please read all similar posts on ILP. this is my 3rd reply on ILP within 3 days. Short answer - not REALLY. ILP has a lot of fees. Key points from previous reply - ILP has four costs - a) investment / fund cost and fees, b) distribution costs to agent / insurance Co, c) insurance Co own admin fees, d) insurance or mortality fees / charges. If you go with robo advisor, DIY just purely buy funds, you pay only cost A. If you don't need the insurance benefit at all, you do not need to pay cost B, C, D. - ILP has long time to breakeven, and often severe penalties for cancellation or even taking premium holidays. - between an 20+++ year ILP and topping up your cpf sa / srs, it would make more sense to do either of the cpf top up, or srs. Apart from tax relief, they have no long term commitment. In a bad year, or you got retrenched, or you got a big wedding which you didn't save enough for... You will come to regret this severe stressful ILP that you just gotta continue feeding. The way you are looking at the bonus is not right, and would skew you towards making the wrong decision. Ask the agent to give you the projection table summarising all the fees, projected return of 3.5%, and what you will get back at the end of the 10 year term. For 12k x 10 years = 120k, I would not be surprised if you only get back only 90+k at 3.5% return . You would paid more than a good and fair portion of fees to the agent and the insurance Co for a 101% death benefit (which might be an even worse deal compared to a whole life policy). Its like going to a shop, you want to buy item X that costs $20. The sales man come to you and say buy combo deal for items X +Y + Z for $100 and you get item A for $1 (usual price $5). Instead of paying 20 for item X that you want, you pay $101 for the entire set. You thought you saved $4, but you actually spent 101-20 = 81 dollars more on things you didn't need.