Asked on 19 Jun 2018
Hi Anon, maybe you might want to clarify why you are thinking of surrendering this policy in the first place? Because no product is bad or good, it's about if it fits in your personal goals.
But at hand, it is correct that you will get $0 back. But if it's not saving in this medium, what is your alternative? Does it also provide flexibility in withdrawals plus a guarantee after 15 years?
You'll need to do quite a bit of opportunity cost calculation to see if an alternative is worthwhile.
I think we need to understand your sudden change of mind. Is it due to you have other commitment which suddenly pops out, making this savings plan a challenge to fulfill?
Is it because you feel the interest rate is low?
If you are able to meet the savings commitment, my suggestion is to keep, so as not to incur loss as you have committed for 6 months.
Need more information about this savings plan
compare with SSB or high yield saving acct, which one gives better returns?
if lock in 15yrs, pls ensure the guaranteed returns is better than cpf rate.