Asked 2w ago
So I have the government-mandated 1(via CPF) at ntuc income shield.
I'm looking into a 2nd investment-linked policy to add to my investment portfolio. How to choose? I notice they mainly hover around annuities. How do they work?
Income shield sounds like the hospitalisation plan. It is not an investment linked policy.
There are few types of products which insurance companies offer:
Insurance, endowment, annunity, investment linked policy (ILP).
Start with asking yourself what do you hope to achieve.
endowment: you get a lump sum at the end of policy term
Annunity: you get a recurring fixed payout for a number of years
ILP: you continue to service your agent's lavish lifestyle while you wonder why the policy returns sucks when the general market keep returning new highs.
hope this helps.