What should I do with my Manulink Invertor OA and Manulink Enrich Option B? - Seedly
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Anonymous

Asked on 05 Sep 2019

What should I do with my Manulink Invertor OA and Manulink Enrich Option B?

Again, I saw ppl stressing NOT TO Buy ILP and the hyped about FA asking u to buy ILP so I decided to ask for advice.

I have a Manulink investor OA and Manulink Enrich Option B, with $60k of my CPF used to invest and I would like to know if should I cancel it?

I was promised that the CPF monies would be returned to my CPF should I decide to terminate it. Is it true? Coz I am BTO ING soon and do not know whether do I need to include the CPF invested money in for Housing loan estimation

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This is the problem when people repeat blindly without knowing what they're talking about.

You bought a CPFIS ILP. It has no insurance charges.

When you bought it 2 years ago, you were charged a 3% sales charge and a 1% advisory fee per year.

Now this advisory fee has dropped to 0.7%. Next year 0.4%.

What's more important than the ILP, is the choice of funds you've invested in.

How about you just check how much that 60k is worth right now?

Also, are you planning to use that 60k to pay for the house? If yes, you're gonna need to sell anyway.

If no, do you still want to invest your CPF monies? If yes, and the performance and allocation of the funds are sound, you can keep it.

If you want to invest, but want to choose different funds, just do a fund switch, it's free.

If you don't want to invest and just get a guaranteed 2.5% interest, you can choose to surrender the policy.

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Takingstock @
Takingstock @

05 Sep 2019

But if you had invested 60k, and now its worth only 58k... The investment has barely moved to recover the sales charges n fees. If you left the 60k to earn cpf interest, you would have 1.5k interest per year. I am kinda confused how can the returns be "not so bad"
Question Poster

06 Sep 2019

I only know it is called the global balanced fund.. @talkingstock because I know it is investment that is y I still think its ok atmšŸ˜….
Alan Kor
Alan Kor
Level 6. Master
Updated on 06 Sep 2019

Of course, insurance agents will say ILPs are good because they are expensive and contribute a lot to their commissions lol

they are rubbish products, pls avoid

best not to use ur CPF to invest and let it compound

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Question Poster

06 Sep 2019

I will still reserve the option to surrender the policy few years later.confirm not going to let it stay invested for 65 years.(policy expire)
Question Poster

06 Sep 2019

Oh oh.. I misunderstood u.sry.i will see if it recovers next year first
Zen Rogue Xuan
Zen Rogue Xuan
Level 6. Master
Updated on 05 Sep 2019

It will depend on when you bought the ILP. If it is within the first 14 days free-look grace period, the premium would be returned to your CPF untouched. However, if you choose to cancel it outside of the free-look period, ILPs typically have a very poor surrender value and you will get a significantly lesser amount than that you put it. I would suggest that you contact the FA who sold you the product- he/she would be able to advise you on the surrender value of said Manulife ILPs.

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Question Poster

05 Sep 2019

I bought it 2 years ago and bought it because to support my friend and was an amateur in investing/savings..