Anonymous

11 May 2022

∙

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.

2

Discussion (2)

What are your thoughts?

Learn how to style your text

Ivan Thiang

18 May 2022

Financial Consultant at Advisors Alliance Group (AAG)

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.

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

Reply

Save

PolicyWoke

12 May 2022

Turbo-charge Your Savings with REPs at PolicyWoke

Hi Anonymous,

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

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.

Disclaimer: PolicyWoke is a resale endowment policies broker.

https://www.policywoke.com/

Reply

Save

Write your thoughts

Related Posts

Hi, I'm 28 years old, planning to put my money somewhere instead of bank. Should I do short term endowment plan (10 to 20 years) or long term (until 100 years of age)? Or retirement plan? Thank you?

I'm considering Aviva's MyProtector - Term Plan II. Is it better to get it with (i) CI (multi-pay) riders; or (ii) a standalone CI policy (My MultiPay Critical Illness Plan III)?

Hi, im now 20 years old, waiting to enlist. I am considering aviva term life (500k) + multipay CI (150k) till 65 years old, cost $1250. Do you think is worth it or necessary for my age? Any suggestion?

Hi Seedly Community! I would like to find out if AXA term protector or Aviva MultiPay CI plan policy is better? Both are term plans up to 75 years old. Up to the layer 2 of Aviva Multipay, both also?

I'm 21, getting out of NS and into university. I currently have a whole life plan and ILP. Should I consider canceling the ILP, switching to term life and getting health insurance? What type of insurance should I get?

Related Posts

Hi, I'm 28 years old, planning to put my money somewhere instead of bank. Should I do short term endowment plan (10 to 20 years) or long term (until 100 years of age)? Or retirement plan? Thank you?

I'm considering Aviva's MyProtector - Term Plan II. Is it better to get it with (i) CI (multi-pay) riders; or (ii) a standalone CI policy (My MultiPay Critical Illness Plan III)?

Hi, im now 20 years old, waiting to enlist. I am considering aviva term life (500k) + multipay CI (150k) till 65 years old, cost $1250. Do you think is worth it or necessary for my age? Any suggestion?

Hi Seedly Community! I would like to find out if AXA term protector or Aviva MultiPay CI plan policy is better? Both are term plans up to 75 years old. Up to the layer 2 of Aviva Multipay, both also?

I'm 21, getting out of NS and into university. I currently have a whole life plan and ILP. Should I consider canceling the ILP, switching to term life and getting health insurance? What type of insurance should I get?