Dear Mr. Tan,
A NTUC agent is trying to sell my the Limited Premium Whole Life policy. He said that this policy will soon be withdrawn and replaced by a new policy that offers lower return to the policyholder. He asked me to sign before the deadline. Please advise me.
You should compare each policy on its own merits. What is the cost of insurance? What is the return? Is there a better option to get the coverage? Do not buy a policy just because it will soon be withdrawn.
Generally, a whole life policy provides a poor return, due to the high upfront expenses. The insurance agent wants to sell this policy, to earn a higher commission.
It is better to buy Term insurance and invest the difference. Read this FAQ
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