Well some people purposely buy more and more life insurance for parents as they age. Even my dad believes in this tactic.

Good if property rental yield more than 6%.

Die with massive DEBTS and MRTA/MLTA/Insurance

Insurance are priced according to your mortality rate. So unless you die earlier than the projected age, then yes you will earn from the insurance. Else you either break even or pay more to the insurance company.

There are many people believe they could beat actuarists in statistics and game the system

sounds like DSAW

That’s why so many running seminars cause they earn more than actual property investment which is not making much.

In other words one need to die at certain age so next gen can cash out.

If they cannot afford current cost what makes one think they can continue the policy for the next 20 years down the road.

Only give partial info so more will follow his footsteps which he is already one step ahead and make a profit by sub selling his properties. Whoever follow later become cash cow and watch them burn. LEL

This is only game for the rich.

very well said. Another thing, if he has the knowledge than can make himself super rich, do you think he will share it out? By carrying out this seminar to teach ppl "how to invest, how to be rich", he is already earning money.

Very Well said bro, i think seminars is where his real money come from...

To earn active income to sustain the instalment ma hahaha

1st of all, you need to calculate if you have enough to repay both the bank loan and the insurance company when you are still alive. The problem will kicks in when you don't have enough.

I have friends that got greedy after learning from these type of gurus and do loan compression. Now after 3 years, the cashout has been depleted and they are in deep trouble with cash. Some of them even having problem renting it out (remember we are in rental market now, so tenant has the last say on the rental price not the owner), some keep on calling to borrow cash. The main issue here is greed.

So, if you ask me, calculate your worst case scenario before playing this game. Ask yourself, worst case, if i can't rent it out can i still pay (loan + MRTA/MLTA) with my current salary. If you can't or if you think you will struggle then better don't do it

This post has been edited by lrm8888: Mar 22 2019, 06:04 PM

Can still get life insurance at an older age? Once your diseases come in, most won't insure you for life, I think.

can, if no major disease, at fantastic cost..

He choose an honourable exit but please make sure that the insurance companies still pay the MRTA.

But children grow up without a father.. A void that can never be filled with money or property

btw, how much "admin fee" (including stamping, lawyer, etc..) incurred in refinancing?

If you need some figures, take this: house value 300k 2014, current market value 500k 2019, loan 90%.

Refinance fees will be Legal fees and valuation fees.

Refinance structure will be show as below :

MV 500k,
Margin of finance 90% = 450k

1. housing loan , lets said 290k
2. cash out 160k
------------------------------------
total loan 450k

legal fees estimated at 11,160
valuation fees estimated at 1,200

the above fees can be finance into your housing loan account.

If u have too much of debt, your life wont be good i tell u

I have a neighbour was fucuking rich... he was like a developer but tipu people
Took hard earn money from the military soldier promised to build homes for them, but never did
Sent car to my dad's service center and owed my dad more than 10k...
Somemore very show off, bought S class ask my dad go see his new car etc etc...

One day suddenly die heart attack, he was not old

My dad say how la u wanna have a good life if u owe money and make other people's life difficult.

ts please share what you have learned

Read my last reply here:

Here

It is better if all your money is spent on your kids and wife. Buy all the cincin belian, gold, silver, USD, SGD...then u mati....

This post has been edited by PHI_1.618: Mar 26 2019, 02:38 PM

Sound like bijan