facebookWhat are the options available when considering investment-linked insurance, and which one should I consider? I am a 20 year old who is just starting to learn more about insurance? - Seedly

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Khor Kiat Siong

18 Nov 2020

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Insurance

What are the options available when considering investment-linked insurance, and which one should I consider? I am a 20 year old who is just starting to learn more about insurance?

Discussion (4)

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I strongly urge you to reconsider getting an ilp, the fees are insanely high and you're better off with other investment vehicles at a much lower fee.

fees eat into your returns, and just do a quick google to find out and read the many articles on why you should not get an ilp

PolicyPal

18 Nov 2020

Official Account at PolicyPal

Investment-linked Insurance Policy (ILP) is an insurance policy that combines life insurance coverage with an investment component. When you buy an ILP, your premium will be used for two purposes - purchasing life insurance overage and paying for units in one or more ILP sub-funds.

As your returns are based on the performance of the sub-fund(s), it is important to choose your financial advisor to understand more about your portfolio of sub-funds. Ideally, your portfolio should be well-diversified with good long term performance projection. There should also be an acceptable risk level.

You can arrange a free financial portfolio review with us to help us provide a recommendation that is best suited to your needs.

To find out more about the pros and cons of ILP, do check out our guide for ILP.

Baby Steps Finance

29 Oct 2020

Seedly Student Ambassador 2020 at Seedly

Hello Kiat Siong, welcome to Seedly! For ILPs, you should consider Funds that are:

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