Hi community, has anyone here managed to reduce your premiums for AIA Pro Achiever 1.0 after your third year into the policy?

The contract seems to not allow reduction of premiums but I heard that some people managed to work around that by citing reasons such as a pay cut. Would love to hear if anyone has any experience trying to reduce your premiums, and your advice/process.

For context: I'm paying $7000 per annum, but the investment is doing badly due to the global situation, or so my advisor explains. In fact it is 20% down from capital invested. While I understand that no investments are immune to the global market, it would be great if I could reduce my commitments to this policy so I can channel that money into my personal investments instead.

Appreciate your advice!

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I.L.

07 Apr 2023

That is an ILP right? I don't have good opinion on ILP. If you can diy using online brokerage service and you are keen to access the accredited funds, then cut down your contribution to ILP.

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Tony

06 Apr 2023

Computer Engineering at Nanyang Technological university

AIA pro achiever is a long term commitment you can't stop for the first 12 years. not flexible at all, despite perks like 5% more of the investment you put in after 12 years or access to funds managed by reputable investment firm.

You could consider premium holiday like 1M45 suggested, but for AIA pro achiever there will be 5% charges on top of what is charged on your investment.

i prefer to do it with robo like Syfe instead.. i can put in $$ whenever i have spare cash.. no need to be "tied" down. i personally have cancelled my pro achiever with a big loss even after servicing it for 10+ years.

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