Here is an analysis of the Vivo Life policy, based on the start of the policy and after two years (for a policyholder who wishes to know if he should continue or terminate the policy).
http://tankinlian.com/admin/file.aspx?id=704&IID=708
http://tankinlian.com/admin/file.aspx?id=704&IID=708
1 comment:
This so-called social enterprise is no longer the same as 15 years ago. It is a different animal now. Their expenses on salaries, bonuses, monthly 5-star hotel buffets, company events and sales talks in 5-star hotels, european incentive trips and other exotic holidays for their staff & salesman are just like any other insurance company.
That's why their annual bonus for their par policies is among the lowest in the industry at only 0.7% p.a. Their "promise" is that they will pay you a bigger terminal bonus at the end of 25-35 years.
And as this analysis has done, even with the so-called big payout terminal bonus, even after 30 years of holding on, the value you get is still poor.
The only way to benefit is to actually die, become totally permanently disabled, or to get terminal cancer that you can claim from that insurance company.
But like that, might as well you buy term insurance in the first place right?? Some more cover yourself for much bigger amount for much cheaper cost.
I know someone who kena stroke at only age 35 and became partially paralysed. Luckily he is working in civil service and he had bought the group insurance for both life and critical illness. He was only paying about $20 per month for his insurance. And he was able to claim $300K from his group Critical Illness insurance.
And he still has another $300K cover from the group life insurance, for which he is still paying only $5 per month.
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