Dread disease policy with premium payable for 25 years

A policyholder bought a life insurance policy from company X (not NTUC Income) to cover $30,000 payable on death and critical illness (30 dread disease).

Company X has advertised that they were able to maintain their bonus over the past years (in spite of bonus cuts made by other companies).

Here are the brief facts:

1) Premium is $64.10 per month, payable for 25 years
2) Sum Assured is $30,000 payable on death, permanent disability and 30 critical illness
3) Protection Value at end of 25 years: Guaranteed $30,000, non-Guaranteed $14,827, Total $44,827
4) Cash Value at end of 25 years: Guaranteed $13,620, non-Guaranteed $6,718 Total $20338

The total premiums paid over 25 years is $19,225. The total cash value (not guaranteed) of $20,338 represents a return of 0.45% p.a. for the 25 years.

It is a poor return. This assumes that the non-guaranteed benefit is paid out as projected by company X.

I believe that a similar plan from NTUC Income should provide a better return, maybe 2% p.a. Our payment should be more than $20,338, even after allowing for the life insurance cover given for 25 years.

I have asked my colleague to calcuate our projected payout. I will post it later.