Should You Ever Buy an Investment Linked Policy (ILP)?


When you think about life insurance policies do you think about the peace of mind you get knowing that you’d be protected for life?

 Or, do you recall that one time when a friend-turned-financial-advisor sold you an expensive plan called an investment-linked policy?

 Investment linked policies (ILP) are one of the most complex forms of insurance. Let’s see if you should buy one.

 source

Comments

Post a Comment

Popular posts from this blog

With So Many Integrated Shield Plans Available

Image
How Do You Decide Which to Choose? All Singaporeans are covered by MediShield Life for the most basic of medical coverage. But on top of MediShield Life, an estimated two-thirds of Singaporeans are also paying for an integrated shield plan (IP) from one of 7 private insurers: AIA Healthshield Gold Max Aviva MyShield AXA Shield Great Eastern Supreme Health NTUC IncomeShield Prudential PruShield Raffles Shield Each insurer offers a few options for their integrated shield plans, which means Singaporeans looking for an IP will have over 25 options to choose from. That sounds daunting, but making your decision is actually easier than it seems. You only need to have a faint idea of what level of coverage you want, and the rest of it is mainly just crunching numbers. Easier than deciding which bubble tea you want at Gong Cha. Ready to compare the heck out of Integrated Shield plans? Let’s go. source
Read more

Planning for a Baby? Here is how much you roughly need

Image
When our firstborn son was just shy of two years old, he was struck with a high fever in the middle of the night. Even as inexperienced young parents, my wife and I knew he needed immediate medical care. As we scrambled to prepare to bring him to A&E, I remember my wife asking me which hospital we should take our son to. She was mindful of the high cost of hospitalisation. As it turned out, he had to be warded for two days and the medical bill came up to a whopping S$5,000! Thankfully, everything was covered by the insurance company as we had bought hospitalisation insurance for the whole family. It certainly was one worry less for this pair of jittery young parents at the time. Financial planning for parenthood isn’t just about budgeting for the big and obvious things like pregnancy cost, medical care, education and enrichment classes. It is also about being ready for the little things that crop up along the way. It’s about being financially resilient as a family unit. There are o...
Read more

The Grand Crypto Party – You’re Invited, But Should You Go?

Image
They say, put your money where your mouth is, and some people these days are having mouthfuls of cryptocurrency for breakfast, lunch, and dinner. Why the rising appetite for crypto? Let me first explain about this new investment conundrum that has gone from two-bit curiosity to virtually impossible to ignore. What is cryptocurrency? Simply put, it is virtual money, the currency that operates on the decentralised blockchain platform. Its value is not determined in traditional ways such as by government control or by the price of a commodity like gold. Instead, the value of cryptocurrency is determined by open transactions in the digital sphere amongst the cryptocurrency community. It cannot be counterfeited or double-spent, and since it is not issued by any central bank, it is free of governmental interference. However, that very feature robs crypto of any sovereign guarantee, making it a high-risk asset. Trading and exchange-rate volatility compound this risk. On the positives, crypto’...
Read more