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Anonymous

05 Jul 2020

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My father's (59) lump sum endowment plan is maturing on Aug this year. Term is 10 years. Principal: 37k, Sum Assured: 45.5k Net Cash Value: 54k. Any advice if he should continue putting or to take out?

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Hariz Arthur Maloy

05 Jul 2020

Independent Financial Advisor at Promiseland Independent

Hi Anon, if a policy is maturing, your dad cannot continue saving in the same policy. When a policy matures, they will give you a lumpsum payout.

What you do with this money afterwards is up to you.

But for your dad's age, I'd focus on income/cashflow, and capital protection options. Consider annuities and fixed income funds, or even CPF.

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