Life insurance policies in my name
Yield
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
Yield
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.
2 comments:
Thanks for sharing this, Mr Tan. It has prompted me to review my own and my parents' life policies.
Mr Tan,
All my policies are with INCOME too. The POLE in INCOME website gives almost current cash value of my policies.
Do you mean I can ask INCOME to give the projected cash value in 10 year's time for all my policies? Do I have to pay for this service?
Thanking you in advance.
Regards,
Jasmin
Post a Comment