Hi, would like to check i would like to cancel my ILP, how much would i lose out? Currently hitting my 1 year & i have paid $7200 for my premium.

1. What was the reason for buying the ILP in the first place?
2. Why consider surrendering your ILP only after near to a year?
3. Surrender ILP due to not enough emergency funds as change of income?

Even if you follow the policy illustration table that you have attached, the surrender value may not be the actual value as the figures are "non-guaranteed" and "illustrated at 4% / 8%"

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Even your advisor can't give you the actual value, he/she can only give you an estimation of the value.

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So your reason for surrender is important.

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For your info, i surrendered my ILP during around year 10 or 11.

I lost nearly $4,000 while the estimated loss was at around $7000. It depends on the company's calculations/formulas.

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My reason for buying it: Didn't know how to generate wealth after NS.

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My reason for surrender: Found ideas to generate wealth faster.

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Looking back, i have no regrets losing that sum of hard-earned money as i managed to recover it back within the next few months.

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The above is just my opinion/experience, not a financial advice.

Just for sharing.

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Wish you all the best!

Based on the policy illustration table you provided, it appears that the surrender value is zero in the first year. That means that if you were to surrender your policy today, you would likely lose your entire capital of $7,200. It's worth noting that this situation is not uncommon with investment-linked policies, as they often involve substantial fees and charges in the initial years. Typically, you could expect to lose nearly all of the account value, around 99%, given that it's only the first year.
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You might want to consider reaching out to service providers who specialize in second-hand policies to inquire whether they are interested in purchasing investment-linked policies as well.

The lLP should have the table of surrendered value against no of years. Generally, you will lose nearly all 99 % of the account value since it is only your first year.

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But if you aren't sure, please check with the company who sold you the ILP.

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And learn this the hard way: never do ILP again. This is coming from someone with 2 ILPs of 30 and 25 years, regreting his decision.

Perhaps you could check with those service providers whom deal with second-hand policies whether they are interested to buy ILPs too.