Should I cancel the DBS Manulife Smartwealth 2 plan bought by my parents or fund for next 5 years?

Hi how much ur parents were charged for the life insurance? I was told that it's only 1% of the 1K.anyway I still considering

What's the minimum investment period that you have chosen for the plan?

As a matter of fact, early termination will lead to losses. Consequently, you may wish to evaluate the plan and determine whether it is financially feasible for your parent to continue the plan, as well as the potential cash value thereafter.

Given that this is an investment-linked policy, I will suggest to look into the funds that your parent is invested into. After all, you won't want to invest in poor funds that don't do justice to your parent's hard-earned money.

If it doesn't fit into your parent's financial objectives, or if there is a better option that may fit into your parent's needs, then it may not make sense to continue with the plan anymore.

Either way, the only way to make a right decision is to understand your parent's needs.

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