Anonymous

08 Jun 2021

∙

I am stuck with AIA ILP. Should I cancel it?

I have 2 ILP policy under AIA, then I have continuously funding it for 3 years. I feel that the policy or fund is not performing but my agent keep telling me that his other client are profiting because they select a certain allocation of the fund. Then now he is trying to tell me to buy another one to put allocation under global technology. But I feel like canceling one of the 2 current ILP plan as I feel that I have been cheated on. What are the penalty and is it worth it to cancel?

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Melissa TAN

14 Nov 2020

Which two ILP funds u in to now? some funds did well but not all. Well, we can predict future..

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Pang Zhe Liang

15 Jul 2020

Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)

Insurance Portfolio Summary

Firstly, one of the most important things to do is to have a complete understanding of your existing insurance portfolio. Through this process, it allows us to understand the coverage that we have, any financial gap, as well as to find out whether we are overpaying for our insurance policies.

Key Reasons Why:

Why Every Client needs an Insurance Policy Summary

Additionally, we will understand the investment associated with your existing portfolio and determine what we can do to improve it to meet your needs. Above all, committing into a new policy does not mitigate the risk and return associated with your existing portfolio. Thus, I will discourage you from doing so at this point.

In case you are wondering, here is the latest fund performance from AIA Singapore: https://www.blog.pzl.sg/aia-singapore-investmen...

Accordingly, it gives you a general direction on where your portfolio should sit. If need be, speak to your agent again and do a proper portfolio management. As always, feel free to reach out for a professional independent advice on your situation.

I share quality content on estate planning and financial planning here.

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Elijah Lee

14 Jul 2020

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon,

Sorry to hear about your negative experience. Is your ILP of the protection sort? If it is...

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I've recently signed up for two insurance plans with AIA (AIA Max Essential and AIA Solitaire Personal Accident) but would like to cancel my plans.?

I'm 21, getting out of NS and into university. I currently have a whole life plan and ILP. Should I consider canceling the ILP, switching to term life and getting health insurance? What type of insurance should I get?

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