comments on http://www.turtleinvestor.net/surrendering-my-aia-prime-life-policy/#comment-166284
the NTUC policy has no cash value.
"For AIA, I’m paying $73.17 monthly for $50k coverage with some riders on it. In comparison, my NTUC Income policy has $200k TPD/CI coverage at $68.90"
inaccurate calculation. at $73.17 monthly for 20 years, if you assumed the insurance costs was free, the yoy annual rate is about -0.67%
"Yah ! for the past 20 teays,, you are just getting half of the return if you just invest in STI ETF ,, IRR just around 3.5 % ,,, with your own control ,, money shall double than that in enxt 20 years !!"
http://shiohmekiah.blogspot.sg/2016/08/comments-on-assi-whole-life-insurance.htmlhttp://singaporeanstocksinvestor.blogspot.sg/2014/09/whole-life-insurance-universal-life.htmlkenneth chua's comment is particularly insightful.
kevin's policy IS from 1997.
"We all know that the benefit illustration 20+yrs ago is flawed and XIRR based on my surrender value is about 2.6%. However, bearing in mind that I was 13 then and my parents are not financially savvy – they just hope to give me some form of savings when I grow up, I can live with it. If XIRR can increase to 3% when I reach the 30th policy year, coupled with the insurance coverage, – I will be contented."
always a good habit. I do so for mine too.
"At the halfway mark in 2008 when I started working, I began collecting these annual letters as much as I could, and I can see that the projected surrender value was revised downwards."
the plague of one size fits all.
freaking employee fund manager mentality! just protect his own rice bowl!
"72% in fixed income20% in equities3% in real estate3% in other assets2% in loans"
looks about right but that 2012 to 2016 is just wrong.
see above comment.
"Year 1997 : $21,385Year 2008 : $17,544Year 2010 : $15,718Year 2012 : $16,448Year 2016 : $16,449"
good timing now though if it is 72% fixed income!
"I was told have to wait to next year, because the value at that point in time can fluctuate according to the underlying fund returns. Oh well."