A consumer bought an investment linked policy with an annual premium of $1,200. He insured for critical illness rider for $50,000. He found that the cost of the rider increases as he grows older and will exceed the premium at age 60. The cash value will start to decrease.
I advised the consumer to consider if he needs the critical illness rider at age 60, as his accumulated saving may be more than the sum assured. He can terminate the rider and save on the high cost that is deducted from his savings. He decided to terminate the policy and buy a private Shield to cover the cost of the critical illness.
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11/14 - 11/21
- Read my book - Practical Guide on Financial Planni...
- Business Times: UBS takes on couple in $9m lawsuit...
- Large increase in membership of FISCA
- Garrett Goh's original letter
- Garrett Goh: Strategy behind buying term insurance...
- Motor claims - protect consumer who make third par...
- Motor insurance premium
- Why Investment Linked Policy make a bad investment...
- Myths about Private Shield
- Election is coming - read SGEP
- Lim Pueh Joo: Investment-linked policy works best ...
- Medical insurance for elderly people
- Buy 2 get 1 free
- Ask Mr. Tan - Low cost investment fund
- Pretty good for Government work
- Shape Quiz (bundle of 10 minipaks)
- Intelligence Quiz - vol 1, 2 and 3 (bundle)
- Wisdom on How to Live Life (Book 3)
- USB Charger
- Articles in SGEP
- SCMP:Bank officer charged over minibond investment...
- Living on accumulated savings - DIY
- John Bogle - Investing in indexed fund
- Warren Buffet on Low Cost Investment Fund
- Dave Ramsey on Life Insurance I
- Suze Orman - Life Insurance is a bad investment
- FISCA talk - Insuring your Financial Security
- FISCA Talk on Financial Planning
- Costly rider to cover critical illness
- Financial Calcuation with Excel
- Choose a good life insurance company
- Living on your accumulated savings
- Suzy Orman - Cash value and Term Life Insurance
- Poor deal from a life annuity
- Economic Growth and Equity
- Donation to FISCA
- Suzy Orman on Life Insurance
- Existing life insurance policies - continue or ter...
- 33.3% discount on Financial Planning book
- Why only term insurance plans make sense now
- Life insurance - agent and consumers
- Misconceptions about insurance
- Noisy carnival at Bishan
- Gold investment scam?
- Interesting articles in SGEP
- Sound policies, impressive candidate for General E...
- Get a Fair Deal
- Vitamin Account (6 year SGD equity linked structur...
- Be prudent in buying insurance
- FISCA analysis of DBS preference shares
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