Dear Mr. Tan
I read your blog today on the "Bonus that reflect the actual experience" and "A poor yield on single premium endowment expired in 2 month time" with a projected return of 3.06%.
Will it be a scenario that the 10 year Growth plan compare to a 5 year plan bought in the same period - 10 year may only get a little bit higher return upon maturity since smoothing start in April this year.Let us take two policies as an example.
Will it be a scenario that the 10 year Growth plan compare to a 5 year plan bought in the same period - 10 year may only get a little bit higher return upon maturity since smoothing start in April this year.Let us take two policies as an example.
5 year plan for $50K from 01 May 2003 and matured on 30 April 2008 for $58,100-00 @ 3.06% against a 10 year plan buying at the same year.
(details removed)
I suggest that you write to ask NTUC Income on the following:
a) What is the cash value of your policy now, if you terminate it
b) What is the yield on the cash value
c) What is the projected maturity value of the policy?
d) What is the yield at that time.
e) What is the yield earned by the Life Insurance fund during the years that your policy has been in force, and the projected yield up to the maturity date.
2 comments:
Just a suggestion:
You may like to ask whether the cash value/ maturity values are to be computed based on actual experience life fund.
If not suggest you request what God damn formula is being used and why?
How to avoid risk is to avoid the product all together. Avoid all participating products from NTUC and you don't have this worry. People must be more discerning and not blindly trust the agents. Grill them and press for more information like return and return of the life fund.
If they can't disclose don't buy.
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