Hi. My sister age 40+ has a Aviva ILP. she has been holding for more than 10 yrs. I understand that old ILPs plan has high fees. Should she consider to surrender her plan and get a term with riders.

Older plans tend to be lifetime payment of premiums, fees might be similar depending on how the fees are being structured. If there is sufficient funds in the current ILP, it might be best to restructure and have a proper blueprint for her retirement with limited pay. She should speak with her current advisor on how best she should restructure it and get protected simultaneously.

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Ping me if you need any help on restructuring/estate planning 👍🏻

Hi Anonymous,

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For the ILP, we encourage that she speak with her servicing financial advisor on what to do with it.

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If she does not have a servicing financial advisor, do contact us via our social channels (links in our profile), as we have a network of financial advisors to refer.

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Disclaimer: PolicyWoke is a resale endowment policies broker.

https://www.policywoke.com/