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Selling an ILP policy
Is there any way to sell an ILP policy belonging to AIA. The conventional critical illness + investment in adventurous fund (almost 100% equity)
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Elijah Lee
30 Aug 2022
Senior Financial Services Manager at Phillip Securities (Jurong East)
Hi Glen,
Generally ILPs cannot be sold off (if you do discover someone willing to take over, I'd like to know about it).
Your alternative right now is to ensure that you find a better option for yourself in terms of CI coverage, seeing as how your currently ILP policy is providing you with cover. This is provided you still need the CI cover that you currently have.
I've seen things happen before, suffice to say, you will want to see if there are better alternatives first, get it in place, get past the 90 days waiting period, and then let go of the policy.
Do note that this is not meant to be taken as financial advice as I do not know the full details of your situation, but I do not recommend ILPs for the purposes of coverage. On protection based ILPs, I share my thoughts here.
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Talk to third parties like reps, purviscapital. not gurantee they will accept because they have to c...
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Nope you can't sell ILPs away. =(