Ferrari Me (Ferrarilim)

  Just sharing on my recent "Insurer Roadshow" encounter. The "smart" agent advised on my wholelife insurance policy: 1. My ilp policy has high mortality charge after age 60; this can eat into my Cash Value. 2.  Earlier year wholelife CI does not cover early CI.  It's CI coverage is not comprehensive too. I was then advised to surrender my old policy, then buy from them; at least the CI allows for early CI. Funny logic.   By my age 60, I will still experience high mortality charge for my new policy with them. And now I am enjoying near breakeven in my total premiums, why would I want to surrender?

During my time as first-time parent, we are blur blur general direction in investment and protection.  That was in the last 90s then. We bought whole life insurance (dont know and dont care about ilp or tradition); at that time, no one talked much about Term insurance.  No such things as TermLife. And... my monthly pay was less than $2,000. And CPF did  not allow topup to child SA.  I remembered that this was introduced in 2013 under a "Others" category.   I quickly made my first $10k topup to their CPF SA, each to my child; over n over the next decade.  At that time, one kid had yet even had her nric; hence I wouldn't check if the cheque topup into the CPF SA was really deposited.    Very chuang. Do make your own decision, I am no insurance agent. If I were you, I would do this: Pt1: Your child has to be covered under both parents' Company Dependents Health Benefits.  First basic protection from Day 1 till their age 21.  (Caveat: Buy when no medical loading. Touchwoo

In our earlier years of investment. We buy Genting, high dividends stocks, high active volume stock.  We also try to do hits and runs, CFD, Forex, GLC stocks, Malaysian CLOB stock and Indon IPOs. Many got burned, ended losing money. We regretted. These days we thought that we are smarter, hopefully smarter; managed to have stable dividends, exciting stock trading gains.   But if only we have a crystal ball in hand.  Just hope what we did is correct. These days, I mainly buy top few bank stocks, at fairly low depressed prices.   Asean banks which also give good dividends at fairly low share prices. Esp. covid crisis, it gave good opportunity for warchest buys. This year, my "bank stock approach" didn't disappoint me.   With my experience, I won't believe into buy and hold for US stocks; worse at its historical high prices and do DCA. I can't imagine offshore S&P500 with no/little dividend and dividend eaten by high 30% tax.  But I still trade into few US stocks

Although I believe in insurance and endowment policies as a form of health protection n for forced/disciplined savings, my opinion is that the era of buying endowments for passive income is over.   Reason: Yield is not atttactive and better put into CPF-OA and SA.  And current high interest rate aggravates its insurance endowments investment. And the insurance protection we all need is TermLife, to lock-in its rising premium costs when one is in their 20s. Caveat: H&S policy (with As-charged) is default and must-have, (covering for pte or restructured hospitals be one's decision). Strangely, personal insurance against 3rd party claim (not referring to motor car accident) is not common for us.  And few insurers cover or promotes it. My last GE/PLG3 policy bought was on 30Jun21 before 1Jul21 where MAS reduced illustration BI kicked-in. My last TermLife CI bought was this year 2022, Singlife-Aviva MyProtector with 30% lifetime premium discount.