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Sean Lew

17 May 2021

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Should I cancel my Etiqa eSAVE Flexi. This is a savings plan of 15 years with a yearly premium of 6k. Seeking advice on past returns; alternative is to invest the 6k/yr myself.

For more context:

There is a small insurance component of 57k for death, TPD and TI but I am already well covered.
I am at Year 7 (paid ~$42k thus far) and if I cancel, the guaranteed surrender value is ~29k with a non-guarantee component from $4k - $5k. (But Etiqa does not tell you total payout until you cancel)
If I take the $29k and invest it myself for the remaining 8years at a 5% return, I still beat the endowments maturity at their 4.25% projection. (Though Etiqa does the guarantee + non-guarantee breakdown and I'm skeptical I would even get a 4.25% return at maturity)

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Kylie Ng Kai Li

17 May 2021

Senior Premier Consultant at AIA Insurance Pte Ltd

Hi,

It's a bit tricky because they don't tell the the total payout even when you call in? Or can the agent help you to check on this?

I think the death coverage shouldn't be a main concern over here.

Are you confident on doing 5% p/a over the next 8 years? If yes, then I think the answer is pretty obvious (:

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PolicyWoke

16 May 2021

Turbo-charge Your Savings with REPs at PolicyWoke

Hi Sean,

Please seek advice from a financial advisor on your options.

After that, if you have decided to give it up, you may consider selling it to us as we may be able to buy-over at up to 10% above surrender value. If you are considering, you may fill up the following form:

https://www.policywoke.com/sell-your-insurance-...

Disclaimer: PolicyWoke is a resale savings plans broker

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