Investment Linked Policies (ILP)
Asked by Anonymous
Asked on 11 Sep 2019
My policy is close to half a year and I paid annually upfront about 7.2k (600 per month). I did not read the T&C carefully then, and now I know abt all the fee, I have doubts abt the actual return I get. My term is 20 yrs. And additionally, can I change the payment term to be monthly? Will there be any extra admin fee or something if pay by monthly (let's say I stay with the policy for now). Thanks in advance.
Top Contributor (Oct)
The subject of surrendering is rather tricky to answer, however, I would urge you to ask yourself a few questions here first:
You can change the policy to monthly, but then it will only take effect from the next policy year.
Without the specifics of your policy, I am not able to give a full opinion, taking into account that fund selection will have an impact on the outcome. If you'd prefer a more in-depth discussion, do drop me an email at [email protected] and we can converse there.
This is a rubbish product which ought to be avoided
you can google seedly and the internet for reviews
suggest you do not mix insurance with investment, period.