Hello Mr. Tan,
You have mentioned in your blog that up to 21 months of savings can be taken away to pay the agent to sell a monthly sum investment-linked policy. Does it mean it will be more worthwhile to buy a lump sum unit trust instead? I'm looking for long term investment actually.
My insurance agent has been asking me to buy monthly sum investment-linked policy and recommends that I treat it like a savings plan. I am not too sure whether I should take his advice.
REPLY
You should invest in a single premium ILP, such as the Flexi Link from NTUC Income. It has low charges, compared to a monthly plan.
You can see a comparison of the charges here:
http://www.askdrmoney.com/Ins_ILP_RP.htm
Read these FAQs to make your decision:
http://www.tankinlian.com/faq/savings.html
http://www.tankinlian.com/faq/ilp.html
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