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Anonymous

24 Aug 2021

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Would you transfer your old life insurance policy (30K coverage, yearly premium of $600 - bought by parents when I was very young) to AIA premium wealth elite?

I have an life insurance policy with about 16K in premiums paid to date. My agent was suggesting to transfer this amount to the AIA premium wealth elite plan instead (500k death coverage) and I dont hv to pay the yearly premiums anymore.

Does anyone know more about the premium wealth elite plan and has any idea if i should hold on to the old plan or transfer out? Thanks!

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Ngooi Zhi Cheng

25 Aug 2021

Student Ambassador 2020/21 at Seedly

Hi Anon,

I think there is too little information to make any sound advice for you.

Is there critical illness coverage with your existing policy?

Are you aware of the difference between PWE (an ILP, depending on your age, can be an efficient form of coverage) and your existing policy (has it broke even?)?

Basically, this advice can work, but multiple checkboxes have to be ticked beforehand. Do ask your agent one the drawbacks or pitfalls you have to consider before making the decision.

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tinycents

25 Aug 2021

Hold on to it, the bonuses are not bad in the long run. can go talk to a good agent to find out on the details of the bonuses of par plan. why need to cut and buy? why not keep and buy?

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Elijah Lee

24 Aug 2021

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon,

I distribute AIA products as well, so let me explain this to you. Platinium Wealth Elit...

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