If you retire from work and find it difficult to continue to pay the premiums, you can convert the policy into a "paid-up" policy.
After the conversion, you will not be required to pay any more premium. The sum assured under your policy will be reduced (based on an actuarial formula). Any accumulated bonus will continue to be in-force. In most cases, the paid up value is quite attractive.
If you wish to learn about this "paid up" option, you can approach your insurance company.
Based on the quoted paid-up value, you can decide which option is best for you:
* continue to pay the premium
* stop the policy and take out the cash value
* convert into a paid up policy.
- ► 2013 (301)
- ► 2012 (1270)
- ► 2011 (1873)
- ► 2010 (2369)
- ► 2009 (1655)
- ► 2008 (2105)
02/18 - 02/25
- Take a flexible and transparent loan
- Philips Securities promote i-Term
- A senior couple is interested in part time work
- Lunar New Year Party
- Kind words from a cooperator friend
- Today paper, 'Mr Income' puts his feet up
- Center for Seniors
- Goodbye to Uncle Larry
- A whole life policy pegged to a child's age
- Japan has a low birth rate
- A larger population of Singaporeans
- Short term interest rate increased in recent years...
- Why structured products are not popular in America...
- Decreasing term is really affordable
- Stop paying premiums on your whole life policy
- My Chinese name, Liang
- Does car insurance policy cover car pooling?
- Learn how to use public transport
- Valuing their labour
- Workfare Bonus
- Risk is to your advantage
- I treat all the lanes fairly
- Difference in terms used in American and Singapore...
- Better to buy term and invest the difference
- An honest investment banker
- My wife's cousin migrated to Australia
- Is private banking anything special
- Use a short word
- Why do my agents say that my insurance is not enou...
- Buy term and invest the difference
- My honest opinion
- Trailer Fee
- Term with critical illness cover
- Life Insurance Policy with Cash Payout
- ▼ 02/18 - 02/25 (34)
- ► 2006 (696)
- ► 2005 (159)