Have a whole life policy bought since age 0, has broken even, the internal rate of return is 2.3%. No ECI and CI just basic death/TPD. Under what circumstances should I keep or surrender?
Internal rate of return calculated using total premiums paid over the years till date, surrender value and excel IRR formula.
10
Discussion (10)
Learn how to style your text
Reply
Save
PolicyWoke
29 Nov 2021
Turbo-charge Your Savings with REPs at PolicyWoke
Hi Hazel,
It depends whether it still meets your financial objectives in holding it. If you're indecisive on whether to keep or surrender your whole life policy, you may seek advice from a financial advisor.
Disclaimer: PolicyWoke is a resale insurance policies broker.
Reply
Save
The Super Long Ark
29 Nov 2021
Full-Time Trader at Barista FIRE
Do you still have to pay for it? how much is the coverage?
if you/parents have already paid it in ...
Read 3 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
The sum assured sounds like it would not be significant to you. You can consider it as a safe haven that grows 2.3% p.a., which is high for today's standards because these policies were based on bonds at that point. Investing can get you higher returns, but it comes with risks too. If you have multiple policies to manage, you can try out the free finance and insurance consolidator to manage them. https://plannerbee.co/