Hi Mr Tan,
I am 30 years old. I bought a Living Policy from another company in 1995 ($500/yr) for $25k. I bought another Living Policy from NTUC in 2006 ($1800/yr) for $100k. I also have a growth policy with NTUC for $30k (1996).
But from your advise in your blogs, it seem that getting a Term is a better choice than Living.
Should I give up my Living and change to terms before the next payment is due this May? I heard that term does not cover critical illness? Does it have any effect if i discontinued my living?
Please read my "Financial tips, April 2007" posted in my blog. It contains relevant information for your decision.
Generally, if you have already bought a whole life policy (such as the living policy), it is probably better for you to continue with the policy, as you have already incurred the upfront cost.
If you wish to terminate the policy and move to a new arrangement, you have to get the actual figures of the available options to make an informed decision. I will ask (name) to help you to get the relevant figures.
If you are taking up a new additional policy, you can follow my advise to buy term and invest separately in a fund. You can buy term with extension to cover critical illness.
- ► 2013 (348)
- ► 2012 (1270)
- ► 2011 (1873)
- ► 2010 (2369)
- ► 2009 (1655)
- ► 2008 (2105)
04/15 - 04/22
- Change in occupation
- Feeder services
- Selling your life insurance policy
- Life insurance with regular paybacks
- Critical illness
- Decreasing term with living benefit
- How to invest in index funds
- Planning for a retirement income
- Feedback on Public Transport
- More trains needed during off-peak hours
- Term insurance in USA - risk factors
- Book early to enjoy lower hotel rates
- Term insurance rates in USA
- How to get low term insurance rates
- Common Sense Investing
- Call your insurer first
- Claim on several accident policies
- Write a Will
- Insurance payout are tax-free
- Advantages of taking a bus
- More insurers offer term insurance policies
- Where to find part time work?
- See the big picture
- Part time work for seniors
- Money market rates are softening
- Walk down Orchard Road at night
- Tribute To Our Pioneers and Unsung Heroes
- Expensive taxi ride
- Better to take public transport
- Time line planning
- Travel insurance for more than 90 days
- Continue with your existing policy
- Switch from Living Endowment?
- Save for your future needs
- Cactus flower in bloom
- Expensive taxi ride
- Travel Insurance
- Where to buy term insurance?
- Mortgage Protection Policy
- Cover for critical illness
- "All Risk" insurance of valuables
- Cactus in bloom
- Visit to the Turf Club
- Return from endowment policy
- Return from an annuity is more than 2% p.a.
- Is my savings adequate?
- Enjoy a higher interest rate with the money market...
- Present views of commuters
- ▼ 04/15 - 04/22 (48)
- ► 2006 (696)
- ► 2005 (159)