facebookMy 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’? - Seedly

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          Anonymous

          15 Jan 2021

          Events

          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’?

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              Discussion (5)

              What are your thoughts?

              If you have other life plans, and the coverage is enough for you, you can consider to terminate it.

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                  Loh Tat Tian

                  Loh Tat Tian

                  05 Apr 2019

                  Level 11·Founder at PolicyWoke (We Buy Insurance Policies)

                  I never advise to surrender unless the policy is really bad coverage, bad wording, bad IRR and low yield to maturity.

                  I advocate really understanding the whole life insurance. Surrendering is not a word to be taken lightly. Although, I might want to take over your policy if that is the case (I mean if yield is good, who wouldn't right).

                  I would rather top up the difference (or gap) of coverage with term to BTIR.

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                      I believe u got ur answer. Let me touch on the strategy buy term and invest. Many people know this t...

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