If you are above 60 years, you are likely to be approached to buy a life annuity. Why, because you have savings from the CPF or from personal sources. If you keep the savings in the bank, you get less than 1%. You are scared to invest in shares, because it has risks. So, you may find a life annuity to be attractive.
The best life annuity is offered by NTUC Income - to my knowledge. But how good is the return on this policy?
You can get the answer here.
http://www.fisca.sg/ArticleDisplay.aspx?ID=507&Name=NTUC-Income-Guaranteed-Life-Annuity&Type=H
The best life annuity is offered by NTUC Income - to my knowledge. But how good is the return on this policy?
You can get the answer here.
http://www.fisca.sg/ArticleDisplay.aspx?ID=507&Name=NTUC-Income-Guaranteed-Life-Annuity&Type=H
2 comments:
Is it good to retain existing wholelife policy till age 75 or 80 or to cash out and use cash value for other plan, such as saving , retirement plan.
Existing have NTUC old wholelife life covering 30 critical illnesses. Bght 28 years ago. Is it good to ash out and buy critical illnesses plan with gaurantee returns of 75% of premium pay at age 75 under AIA triple plan and retirement plan .
Any suggestion to get better values and returns on cash values. To-date insurance returns are extremely low ranging from 1-1.5% yet the company are making 5-8 % returns. Pls comments.Thks
Better value is to buy term insurance and invest the rest in ETFs or funds regularly.
Insurance products whether whole life or endowment are rubbish products that benifit the agents and the insurance companies. You can get 3 to 4% in short duration bonds with your 2 eyes closed.
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