High charges under ILP policy

Dear Mr. Tan,
I am insured for a sum assured of $100k and critical illness for 180k under a ILP since 2006. The cash value is about $300 now although I have a total premium of $3,600. Is this a good policy?

REPLY
The cash value is too low, compared to the premium that you have paid. The charges under the ILP policy is excessive and has taken away most of your savings. Read this FAQ:
http://www.tankinlian.com/faq/ilp.html

As you have already incurred most of the upfront charge, it is probably better for you to continue the ILP policy. After the second year, the charges should be quite low.

If you have to increase your savings in the future, do not buy a high cost ILP policy.

You can buy a term insurance policy to cover your protection needs. It is low cost and offers a large coverage. Read this FAQ:
http://www.tankinlian.com/faq/benchmark.html