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Dear Mr Tan,

I bought Hi-Saver Investment-link Product in 1999 with a maturity date of 2014. It's fully paid up.

It covers $10,000 for death and permanent disability with a top up on death of $55,000. The money are invested in two funds. The funds have shown a good gain.

Every year, some administration fee and charges are deducted. It looks like quite a lot when added together. I don't like them to deduct all those fees and charges.

I am thinking of terminating this plan, but the life insurance cover will also terminate. What do you think?

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REPLY:

Before you terminate the current plan, you should see what is offered by another insurance company, e.g. NTUC Income. You should find out the following:

* premium payable under the level or decreasing term plan that gives similar coverage
* charges under the new investment fund

You should check if the new plan is better, before you decide to terminate the current plan.