Great eastern living assurance policy with crb

Hi zac,

​

If my memory serves me correctly, living assurance CRB covers death/TPD and CI.

​

Ask for a revised benefit illustration from the insurer and you'll be able to better analyze whether to keep it or not.

​

However, if you dad has kept the policy for a long time, then likely the compounding effects of the bonuses would be significant. The claim amount would be more than the surrender value, and I'd suggest keeping it. If premiums are a concern, your dad can covert it to a paid up policy where it will continue to protect him but premiums will stop.

​

While your dad may not need death/TPD cover, CI coverage is still important and I'd personally keep it.

​

Hope insurance specialists like @Elijah can advise.

​

in the meantime, suggest you could go with your father to customer service and request for the post sales illustration. see whether breakeven already and whether the present surrender value matches with what was illustrated when your bought the policy.

then see what is your / your father's concern(s) now.

seems like this policy is a life plan with minimal protection, usually used as forced long term savings or to pass down to next generation upon death. not so much to claim against illness or accident or hospital.

​

hope this helps.