I purchased an ILP 13 years ago in 2007 and am thinking of terminating since the coverage is only 50k and I already have the savings for that. Is there an optimum time to terminate it?

Hi there,

Currently you have 50k in coverage, which in today's standard is not alot. However, don't dismiss this policy all together because of the time which you bought the policy. Fortunately, you managed to stay invested through 2 major financial crisis in the past 12 years. You policy is actually close to breaking even, and you should actually continue to hold it for yourself as a form of alternative investment. Should you know how to manage your funds, you can still make a decent return for yourself.

I have clients with ILP that perform way above the benchmark, its dependent on whether the advisor is able to dispense timely information with regards to your investments. Should you not require the insurance part of the ILP, you can reduce the sum assured to 0 at 55, or if your policy is from Prudential, you can do so now, as the policy has been in force for 10 years.

Do provide more information, so that we might understand your situation better.

E.g. your premiums for your coverage, age taken up