Advertisement

MATTHEW WONG

Edited 20 Sep 2022

∙

MANUPROTECT LIFE 20: Total Guaranteed Surrender value less than Total premium paid. Surrender to buy Term insurance or Invest the money in Robo-adviser ?

I bought a whole life insurance(ManuProtect Life 20) with premium $130/month (20yr payment terms) in 2015. It covers for CI, TPD, death benefit. The guaranteed surrender value is lesser by 5~6k than total premium paid in year 20th.

Should I consider surrendering it now to purchase a cheaper term insurance or continue until maturity or invest the money in Robo-adviser ??

At the time being, I'm 51, don’t have any others term insurance to cover with CI, TPD and death.

Appreciate an advice, thank you very much :)

3

Discussion (3)

What are your thoughts?

Learn how to style your text

Cherie

05 Oct 2022

Hi there! whole life insurance's main purpose is for coverage, so i would determine the worth based on total paid vs total coverage and not cash value.

Reply

Save

Jenny Lee

23 Sep 2022

If there's no other insurance, I'll advise on keeping this whole life insurance. Cash values may not be as good but it's main role is for insurance. Also, what's the cash values when you retire say at age 65?

Reply

Save

Albert Tan

Edited 20 Sep 2022

Financial Literacy & Solutions at MoneyOwl

Hi Matthew,

The consideration should depend on a few factors. Do not act from "advice" you read ...

Write your thoughts

Related Posts

Is an early termination of my life insurance policy one that involves high costs and that the surrender value payable (if any) may be less than the total premiums paid? Is this true?

An agent recommended me Whole Life insurance multiplier with a premium term of 20 years. Can I treat this as a way to save my monthly income for the surrender value at the end of the policy's life?

My parents bought for me a whole life insurance policy for over 20 years, should I keep it? Or surrender it to ‘Buy Term, Invest the Rest’?

Term or Life insurance for a 24yo w no dependents? Should I surrender my whole life insurance for term then invest the rest?

Will there people even get a whole life insurance and mid of way change to term and cash out their cash value of life insurance to do it for investment?

Related Posts

Is an early termination of my life insurance policy one that involves high costs and that the surrender value payable (if any) may be less than the total premiums paid? Is this true?

An agent recommended me Whole Life insurance multiplier with a premium term of 20 years. Can I treat this as a way to save my monthly income for the surrender value at the end of the policy's life?

My parents bought for me a whole life insurance policy for over 20 years, should I keep it? Or surrender it to ‘Buy Term, Invest the Rest’?

Term or Life insurance for a 24yo w no dependents? Should I surrender my whole life insurance for term then invest the rest?

Will there people even get a whole life insurance and mid of way change to term and cash out their cash value of life insurance to do it for investment?

Advertisement