Life insurance policies in my name
1. Endowment SP 5.4%
2. Living 1.7%
3. Living 2.9%
4. Umbrella 4.4%
5. Protection 4.0%
Life insurance policies in my wife's name
6. Endowment SP 8.4%
7. Living 4.1%
SP: single premium paid, ie no further premium payable
I have decided to give up policy #2, as it gives a poor return for the next 10 years. I will keep the other policies in force.
Some policies (eg #1 and #6) show a high yield for the next 10 years. This is due to the low surrender values now. It is better for me to keep these policies in force to earn a better yield.
All these policies are with NTUC Income.
If you wish to review your life insurance policies, ask your insurance company or adviser to provide the above figures to you. You can make a better decision.