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Anonymous

05 Jun 2021

Insurance

When is ILP a suitable plan to buy?

When is a good time to buy ILP?

Discussion (3)

What are your thoughts?

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Elijah Lee

05 Jun 2021

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon,

There are generally two types of ILPs on the market, protection based, and investment focused.

On protection based ILPs, I share my thoughts here.

On investment based ILPs, I share my thoughts here.

The TLDR is that I prefer to seperate investment from insurance, and even with investment focused ILPs, I still think that the cons outweight any possible pros (such as institutional funds not readily available for mass market)

A good time to buy is when you are healthy and young.

But then again, whether it is suitable or not, would really need to depend on your needs.

Not everyone is suited for ILP.

There are many other standalone insurance and investment products that are worth to explore.

Tan Choong Hwee

18 May 2021

Investor/Trader at Home

I prefer to separate investment and insurance, and ILP generally doesn't do well with both. The only...

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