31-07-2014, 06:11 PM
(31-07-2014, 05:38 PM)NTL Wrote:(31-07-2014, 12:10 PM)martinlee Wrote: While the term plans are ok, the range of WL products made available is a joke. Only limited to pay till age 75 and 85. Looks like MAS has succumbed to industry pressure not to rock the boat too much.
http://www.martinlee.sg/buying-insurance...mmissions/
So far, the whole life plans I bought for my family are 10-yrs and 5-yrs premium term. My rational is, since I intend to keep it for whole life, why pay over long period of time?
Paying till 75 (or 70 from your blog) or 85 will means that the insured will need to pay beyond their retirement. Frankly speaking, that is not rational at all. Till age 60 or 65, before retirement will be more practical. Who still want to continue to pay for insurance after retirement?
It's 70. I wrote 75 wrongly earlier.
That's why I said the implementation is half-hearted. The WL part is quite ridiculous.
DIY term people will benefit though.
If you want 1mil cover, you can DIY with 3 companies. A bit of a hassle but still doable.