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Anonymous
I dont quite understand the part about Basic plan you leave a larger legacy for your loved ones in the event of passing on, versus Standard plan will result in lower request (wouldnt remaining CPF life premium balance in standard plan still be returned to my loved ones if I pass on?).
Many thanks if you could share some advice!
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Tan Choong Hwee
15 Feb 2022
Solutions Specialist at Providend
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JK
15 Feb 2022
Salaryman at Random Company
You are right in the sense that CPF LIFE premium balance will be left for your loved ones in the event of passing on.
In the case of Basic Plan, as you draw out lesser amount per month, the premium balance will be more than Standard Plan's at any given time (unless both balance reaches zero). That is what they meant by leaving a larger legacy behind.
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Two factors that let Basic Plan leaving higher legacy than Standard Plan: