Posted on 17 May 2020
These difficult to understand products, rarely are a good alternative to passive ETF investing. take care ...
LifeReady Plus is a whole of life, limited payment plan. If you get it, you will be getting it to give yourself CI/early CI coverage (which are added via riders) for whole of life. It's not mean to be an investment and should not be evaluated as such. Yes, part of the premiums are invested in the participating fund, which is heavily skewed to fixed income to reduce the risk, but you don't have any say in what they invest in.
If you know how to invest, set up an investment account such as POEMS and you can invest already. Insurance and investments should be separated.
LifeReady Plus should really be considered if you have need to get CI/ECI cover for whole of life but don't want to be paying premiums forever. Cost effectiveness wise it would probably be cheaper than a term plan till say, 75/80 with CI/ECI coverage, not foretting that your CI/ECI cover will never cease unlike a term plan. However, you should speak to an independent financial advisor for a more in depth discussion as well as to evalute other similar plans from other insurers before settling on the right plan for yourself.
LifeReady Plus is a participating whole life plan. What this means is that it provides c...
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