Should I cancel my ILP at a loss and use the current value to invest on my own? - Seedly
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Anonymous

Asked on 04 Apr 2020

Should I cancel my ILP at a loss and use the current value to invest on my own?

I have some ILPs that I do not want to maintain. Giving up on the plans would mean I actualize the losses ~10-15k.

My current plan is to get term insurance. And re-investing the remaining value into ETFs and holding it over a long term. In doing so, does it make sense that the loss I incur would be that of (whatever management fees in the past) and also to buying units of ETFs now, since I’m planning to buy units with the same amount?

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There are many types of ILP available. Is yours for life insurance tied to an investment fund? Or solely for investment purposes?

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