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Anon Rhino

18 Apr 2019

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Regarding Term Life Insurance...? Surrender or keep?

Bouncing off the conference on Sat, if i already have a whole life insurance plan (20k spent, 11k surrender value as of now), is it still worth it to cancel it in favour of term life insurance? Or should I let my whole life run?

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Loh Tat Tian

05 Apr 2019

Founder at PolicyWoke (We Buy Insurance Policies)

I would mention this many times. Surrender is not a small matter at all. There are cost Involved, and the only person who can tell you to surrender should have a plan on how to recoup this amount (Time value calculated too), based on What type of gauranteed returns etc.

Have a BTIR comparison (like how https://www.firepathlion.com/i-threw-away-10000... did,) in order to understand your options.

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Hariz Arthur Maloy

04 Mar 2019

Independent Financial Advisor at Promiseland Independent

Speak to a licensed advisor. From what it looks like, your WL plan will be breaking even soon and unless you're bleeding trying to pay for it, you may want to keep it and still get term on top.

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