Jun 5 2009, 02:38 PM
QUOTE(numbertwo @ Jun 5 2009, 12:55 PM)
The reason why I bought ILP for my children at age 2-3..
1) you can have various coverage (ie. payor benefits) all lump into this policy.
2) medical coverage is much cheaper than that buying a standalone card, if you calculate the monthly insurance chargews deducte, the total cost of the medical coverage is like 30-40% cheaper than buying a standalone medical card. Why medical? Well, things happen so having a medical is important as I have bad experiece with goverment hospital..
3) I understand that insurance charges increases significantly , but only if someone is after a certain age >30 or >40? i think?? ILP is cheap when someone is young.
4) I insist on minimum coverage of Life & TPD allowed in this ILP, as a forummer here mention, we don't need money becoz of children's death.. So, by doing this i hope i will get more units at the end of each year.
5) This ILP allows me to do fund switching 4 times a year, for free...which is good.. As I do follow market's condition. So, ILP no not really for lazy ppl as claimed?
6) I may not see any return the first 5-6 years due to insurance charges as well as the % of allocation of my premium into the unit trust.. But If i do aim for 20 years tenure and i do market monitoring and switch funds accordingly... I do think that ILP is ok for a lil bit of saving (be it their wedding gift when time comes, or helps in their education if necessary) and good coverage ..
errr...don't know if i have anymore..
It may be a bad choice, but that's my choice.. Comments are welcome to correct me..in case you are right, then i will have choice to cancel one of them, which i just bought last year ..
1. why not just skip the insurance and go for pure investment products (unit funds, asm/asw/asb, a property somewhere, etc?) + a standalone medical card1) you can have various coverage (ie. payor benefits) all lump into this policy.
2) medical coverage is much cheaper than that buying a standalone card, if you calculate the monthly insurance chargews deducte, the total cost of the medical coverage is like 30-40% cheaper than buying a standalone medical card. Why medical? Well, things happen so having a medical is important as I have bad experiece with goverment hospital..
3) I understand that insurance charges increases significantly , but only if someone is after a certain age >30 or >40? i think?? ILP is cheap when someone is young.
4) I insist on minimum coverage of Life & TPD allowed in this ILP, as a forummer here mention, we don't need money becoz of children's death.. So, by doing this i hope i will get more units at the end of each year.
5) This ILP allows me to do fund switching 4 times a year, for free...which is good.. As I do follow market's condition. So, ILP no not really for lazy ppl as claimed?
6) I may not see any return the first 5-6 years due to insurance charges as well as the % of allocation of my premium into the unit trust.. But If i do aim for 20 years tenure and i do market monitoring and switch funds accordingly... I do think that ILP is ok for a lil bit of saving (be it their wedding gift when time comes, or helps in their education if necessary) and good coverage ..
errr...don't know if i have anymore..
It may be a bad choice, but that's my choice.. Comments are welcome to correct me..in case you are right, then i will have choice to cancel one of them, which i just bought last year ..
i doubt that a standalone medical card with the same amount of coverage will cost more than a ILP medical card...
Quote
0.0257sec
0.64
6 queries
GZIP Disabled