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Anonymous
Hi I bought a WL plan last year but thinking if should cancel and buy term. GREAT Flexi Living Protect 2 (200% multipler) $3400 PA Not much of an investor but might start small Need some advice TIA
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Tan Siak Lim
02 Dec 2022
CFP. Director, Financial Advisory Group at Financial Alliance
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Tan Siak Lim
02 Dec 2022
CFP. Director, Financial Advisory Group at Financial Alliance
You could do better had you bought the plan with bigger multiper (say 400% - 500%). The multiplier is essentially a limited pay term policy. You also have a smaller whole life that you need to cover you for life especitally against CI. For the same premium you are paying today, you can get a higher coverage and still have some whole life policy which is essetnail
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Billy
Edited 30 Nov 2022
Development & Acquisitions Manager at Real Estate Private Equity
Term = pay more if you live longer
Whole life = pay till certain age + there's a cash value
Whe...
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You could do better had you bought the plan with bigger multiper (say 400% - 500%). The multiplier is essentially a limited pay term policy. You also have a smaller whole life that you need to cover you for life especitally against CI. For the same premium you are paying today, you can get a higher coverage and still have some whole life policy, which is essetnail