Asked by Anonymous

Asked a loved one of mine to cancel their pulsar plan and I dont know if it it the right decision to make?

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?

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    • Luke Ho
      Luke Ho, Money Maverick at Money Maverick
      127 Answers, 225 Upvotes
      Answered 3w ago

      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.

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    • Loh Tat Tian
      Loh Tat Tian, Ex-Financial Advisor, Founder at Singapore Insurance Value Finding

      Top Contributor (Dec)

      198 Answers, 292 Upvotes
      Answered 3w ago

      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.

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    Yixiong Chang
    Yixiong Chang

    Top Contributor (Dec)

    170 Answers, 225 Upvotes
    31 Dec 2018

    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.

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