Hi guys, is the Prudential Prulink Protection Account any good? My mum got this for me previously about 10 years ago and I've taken over this ever since I started working?

Got a prulink assurance account for 24 years. So called a life assurance investment account but was shocked that it was almost breakeven when I see the surrender cash values. Looking back on all the illustration for non guaranteed cash values. I feel cheated in some way. Foolish of me to accept buying this policy for 2 of my children. The next day I apply cancelling 3 of my policy. That's it for this company

Hi anon,

Prulink Protection Account is an ILP. Thus there will be both protection and investment elements. Please don't cancel the ILP yet as you are covered if anything happens. You need to figure out what your coverage requirements are at this point in time and evaluate the options available for you right now.

I can't comment too much without knowing with the details of your current plan, but suffice to say, I don't recommend mixing investments with insurance. Keep those separate. Insure with your traditional term and whole life plans, and invest directly via a multi-asset platform, or through an advisor (e.g. WRAP accounts, managed accounts). ILP investment value will greatly erode in the long run due to exponentially increasing mortality charges.

Depending on what you wish to cover, a more effective way may be via traditional term or whole life plan. Speak with an independent financial advisor to understand your options available before you decide what would suit your needs and objectives best.