Anonymous
I have a Whole life with profits , 2nd series insurance (Prudential), which has been in force since 1990. I am wondering whether I should just surrender the policy to benefit from the cash?
I am not in dire need of the cash but am wondering why I need to continue paying an annual premium (more than $2000) for so many years. Will it make sense to get the cash and invest in other insurance-linked policies to enjoy the cash inflow?
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Hariz Arthur Maloy
15 Aug 2019
Independent Financial Advisor at Promiseland Independent
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So you brought a whole life plan for investment?
have you calculated your irr?
seeing the agents' answers below are very entertaining lol
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Loh Tat Tian
14 Aug 2019
Founder at PolicyWoke (We Buy Insurance Policies)
Most whole life policies returns plateau at age 70. So that is a good thought if you are not looking...
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Your policy right now is almost entering it's 30 yr period. This means that it would have broken even by now and everytime you pay a premium, the policy could be earning a 6-7% return.
Because there's a compounding effect on the policy, I suggest you calculate the projected year on year returns from this year onwards. It may be the best low risk product to own at the moment.