Asked by Anonymous
There is surrender value of about 1.5k after surrendering. After reading many threads, I do feel insurance should not be mixed with investment. Am I giving the right advice to cancel?
It's very reckless to cancel something based on reading off a bunch of threads. Accurately, Pulsar typically doesn't have an insurance element.
There still has to be a lot more specifics like how long the plan has been going on - and you have to remember that high fees are offset by the starting bonus. Something that has that much of a headstart and compounding exponentially can easily offset high fees. Easily.
And you can only determine exponential compounding by going over the asset allocation. Which you should do. Justify the cancellation on a wide range of information, not limited ones.
Aside from that, if you're going to tell someone to cancel a plan and lose their money, TAKE responsibility for it. They have to be actively doing something to make that the money and show them projections for reassurance, at the very least.
I think it really depends on the Pulsar Policy etc. We are looking and moving forward instead of lamenting on what's done.
We will need to evaluate the fees involved. If its just starting (which should be from the surrender value), need to evaluate whether does it make sense to continue or surrender. No straight answer, it depends.
Pulsar doesnt have much of an insurance unless u choose the enhanced death benefit.
But to me the cost structure is too high. ( Account Maintenance Fee , Investment Management Fee, Administrative Fee, Policy Maintenance Fee ) There are way lower cost platforms in the market.