Urgent help required! Should I keep my insurance plans? I still have time to opt-out, and I think the premiums are quite costly. Any advice?

Hi Anon,

Just to highlight, what you got is a Whole Life Insurance policy, in regards to premiums, I do think there is value in what you are paying. You are covered the whole of life, as compared to term, which covers you during only a specified period.

In regards to premiums, it might be good to check out other products as well to see what can give you better coverage at the kind of value.

I think if you talk about value, sure, term does have the best value, but are your comfortable with the lack of protection when you need it? Term is recommended as an add on once you have a whole life policy in place. And a whole life insurance policy should not be compared or used as an investment instrument in our current times.

Do reach out if you do not mind another opinion to see what be done for you. My email is [email protected]

You should consider term insurance_** **_only as it is cost effective with much more insurance coverage.

a 500k coverage for your age shld roughly cost ard 1k+ premiums annually, including tpd and ci

avoid mixing insurance with investment such as whole life plans as they are costly and comes with low coverage and neligible investment returns​​​