Anonymous
My FA suggested to me that plan what are your view on it. Is it a good plan to have or should I invest on my own or use robo
21
Discussion (21)
Learn how to style your text
Reply
Save
Not recommended unless it is just a short term
Reply
Save
Too complex, too much fees, too much penalty.
Make sure you read through the details, understand how it works and not be blindsided when circumstances change.
Also on the fees and charges,
5.1. Premium Charge
5.2. Supplementary Charge
5.3. Benefit Charge
5.4. Premium Holiday Charge
5.5. Premium Reduction Charge
5.6. Full Surrender Charge
First 2 years - 100% charge
Initial Investment Period 10y - 11th year onwards - 0% charge
Initial Investment Period 15y - 16th year onwards - 0% charge
Initial Investment Period 20y - 21th year onwards - 0% charge
5.7. Partial Withdrawal Charge
5.8. Fund Management Charge
https://www.comparefirst.sg/wap/prodSummaryPdf/...
Did your FA cover this?
Reply
Save
Any ILP is not recommended as an investment as it eats up too much of your gains with their fees. You are better off investing your own or using a robo, there are plenty of guides out there to start you off. If you want more details why ILP are bad you can consider reading thru all the past cases over at reddit.
Reply
Save
Man of the Hour
12d ago
Man at Man of the Hour
Faster delete your agent's contact and never speak to him/her again...
Read 12 other comments with a Seedly account
You will also enjoy exclusive benefits and get access to members only features.
Sign up or login with an email here
Write your thoughts
Related Articles
Related Posts
Related Posts
If you have time, use it to gain knowledge and DIY/robo. I feel insurance is more expensive and they are just pushing the products.