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Choosing Life Insurance, Advice Please!!!
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wufei
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 Jul 9 2008, 07:04 PM
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QUOTE(kohyenyee @ Jul 9 2008, 12:11 PM) The GE Supreme Livin'Care Plus is a very good CI product. Not much insurance company provide increase SA every year. Plus it's the only plan with 'buy back option', which means upon diagnose of critical illness, we still given one last opportunity to buy the same amount of SA for
another Life coverage for Death and TPD. CI patient suppose not qualified for any insurance right, and that's why this plan is good! Go ahead with this plan la! I support you. What is the meaning of this? |
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wufei
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Aug 8 2008, 07:28 AM
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dont get confuse of buy early and it is cheaper
when you are young you have been paying the premium you need to pay when you are old and the compounding interest you have invested in. Insurance company are ten times smarter than you.
ILP is totally not worth it. If you want to invest, invest somewhere.
Medical insurance around age 30 will cost you around 500 while you were paying for ILP lets say 100 per month and total = 1200, where is the rest goes to? It goes to your investment and investment will pay for the increasde premium in the future years when you are old.
Touch wood investment tak jadi, you also have to fork out your pocket to pay for the increase premium.
You want medical card buy medical card
you want life insurance buy traditional type with bonus and critical illness and sum insured will increase every year type of life insurance
personal accident dont bind together with your life insurance, buy seperately from non big insurance company. Allianz has a good plan. other than that tune money also giving a good one. astro also got give free PA, AAM also got give, MAA also got give free.
Choose wisely.
Added on August 8, 2008, 7:31 amwhere is the rest ILP premium goes to?
Insurance charges where they buta buta charge you every month.
Every month they buy sell buy sell unit trust, the different from it they are earning and laughing on the floor for big water fish swim in without need to do any effort.
This post has been edited by wufei: Aug 8 2008, 07:31 AM
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wufei
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Aug 10 2008, 11:25 PM
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QUOTE(athlon 11 @ Aug 10 2008, 03:47 PM) quota: ilp is another story,it premium increase according to your age,regardless when you buy the plan.it work like medical card.yes,ilp is not a good investment tool,howewer,if you study their cost totaly ,for young people who buy it at young and surrender it before age 55,it is actualy a most cost effective insurance,even cheaper than term. What is the different with ILP? it works the same, you pay more to invest and when old the premium was high and you cash out your investment, same principal also mah You say ILP more cost effective compare with term insurance, show us the statistic, please compare apple with apple. I mean compare with the same premium amount and take into account inflation and compound interest. |
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