Wednesday, April 30, 2008

Terminate an existing life insurance policy

Hi Mr. Tan,
I have purchased an Umbrella Policy from NTUC since 1990. The cash value as of end Mar '08 is $X. I am thinking to terminate this policy and to invest the money instead. Do you think I should do this? Thanks a lot for taking time to help!

It depends on the following:
a) do you still need the life insurance cover?
b) do you need the cash now, to spend on your daily expenses?
c) do you wish to reinvest it to earn a higher return?

Read this FAQ:

I hope that it gives useful informatin for you to make a decision.


Anonymous said...

Such policy introduced in 1990 under Mr Tan are good plans.

Premiums are low, and the values are good.

Mr Tan should have the guts to answer to this to advise this person to keep the policy.

I believe Mr Tan is not advising surrendering but the way it is answered is like giving this enquirer a push to surrender.

Mr Tan, come clean and say this is a good plan introduced in your time, and is now withdrawn and no more such plan.

This is a good plan to continue.

Fine if you decide to delete this posting. Touch your heart.

Anonymous said...

You are rude. You have not read Mr. Tan advice properly and jumped the gun. Mr. Tan's advice is subject to a few conditions and he used "it depends" as conditional on various factors to cancel the policy. If the answer to all is 'yes' then cancel. if not don't cancel.This is called advice and not whether he has the guts to say this or that. That is irresponsible.
The word good is may be poor now.
Mr. 11.33pm, if you got the guts you apologize to Mr. Tan.

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