Hi, Mr. Tan,
Is it better to buy a single premium ideal plan or regular premium one? It seems for regular premium ideal plan, I need to pay $4/mth policy fee for whole life. But for single premium, they only charge one time $50 for opening account.
But the advisor stated that regular premium, though charge more, can be less risky.
REPLY:
If you have a lump sum, it is better to invest in a single premium, as the charge is lower.
If you do not wish to take the risk of investing a large sum at one time, you can break into three tranches and invest them over a few months (as recurring single premium).
The regular premium plan is intended for you to save a monthly sum over 10, 20 or more years.
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