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Anonymous

10 Nov 2020

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AXA INSPIRE FlexiProtector (Max Cover), to terminate?

I am recently re-looking into my insurance portfolio and discovered that I may have been influenced by an agent 5 years back to purchase this ILP without fully understanding of what it actually is. It’s a form of savings/investment plan that provides coverage, that I have to pay for my whole life? I dont have the knowledge to monitor the funds, and dont really want to continue paying for it. Should I terminate it ? Definitely a major loss if I do so, since the surrender value now is ridiculous.

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Silvester Leo

10 Nov 2020

Risk and Wealth Management at Self-Employed

I was searching for the product brochure for this policy that my client purchased and it linked me to this. You should always separate insurance & investments.

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Samuel Don Oh

03 Sep 2020

Hey there!

AXA FlexiProtector is likely a protection based ILP. This means that the focus here isn't on wealth accumulation but on protection. Whether you should terminate it or not will depend on your lifestage and ability to sustain it now; at a certain age, the mortality charges will be too high for you to sustain it. People do cash out from their ILP once they reach a certain age to go back to their protection needs or weath accumulation needs. Terminating the plan may lead to a massive loss of cash value and protection coverage so do engage a financial advisor to explore your options.

Financial planning is an integral part of life. You can reach me here to find out more.

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Nigel Tan

03 Sep 2020

Executive Senior Financial Planner at Great Eastern Life

The surrender value would have been more for a whole life. Usually whole life policies have 0 surren...

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