ManuInvest Duo

Has anyone taken up ManuInvest Duo (20years) with Manulife? Took up this ILP 2 years ago when I was still an undergraduate & I was recommended/sold this policy because of the "duo" benefit of insurance coverage & investment; I am 26 y/o (and most reviews I hear about ILP says that ILPs require longer periods of time to see results; hence I have the benefit of my age here), but personally I'm not sure if this policy is still worth keeping, or whether the higher premiums are worth paying for. Penalty for this will be quite high though

2

Discussion (2)

What are your thoughts?

Learn how to style your text

Seering Malissa

25 Jul 2023

An ILP is a type of life insurance policy offered by insurers that combines protection and investment. However, unlike whole life insurance, an ILP is often described as a plan that can do it all. You'll get higher returns than with other types of plans, which means you'll reach your financial goals faster. rocket bot royale

Reply

Save

CH

28 Dec 2022

Call it whatever they want, ILP is still ILP.

because of the high ongoing fees and insurance charges, you will confirm lose money short or long term. i did a back of envelope calculation for a particular plan, you will need the market to make consistently 50% returns every year to breakeven (you can try out in excel to confirm for your plan). and the unit trusts they invests in are the same unit trust you can get elsewhere at cheaper costs.

so, no, i will never touch ILP. if you want, seek another adviser (not from manualife or DBS) to explain to you whether is that suitable for you. or if you like, you could post your policy illustration here for us to take a look (blank out personal info).

hope this helps.

Reply

Save

Write your thoughts