facebookMy mum who is not financially savvy purchased numerous ILP endowment plans that she has to keep paying till she is 75 when it matures. What should we do? - Seedly

Anonymous

18 Apr 2019

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My mum who is not financially savvy purchased numerous ILP endowment plans that she has to keep paying till she is 75 when it matures. What should we do?

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Allan Lee

09 Apr 2019

Financial Planner at Axa Singapore

An advice to you here is to check how much premium have been paid, what is the current value of the policy and what are the cost of insurance for all the plans (This can be costly when the age of the life assured is higher than 50.)

Luke Ho

09 Apr 2019

Founder and Director at CFX Money Maverick Pte Ltd

An ILP is not the same as an endowment plan. It's either or. So someone has been teaching you wrong things.

You can consult someone to see if you should surrender them or not. While what you're saying doesn't sound favorable at the moment, we won't know till we get a close look at them.

https://www.facebook.com/luke.ho.54

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