Resale Endowments explained

 https://theinvestquest.com/resale-endowment-policies-higher-projected-returns-with-shorter-time-to-maturity/

Good article of Resale Endowments.


Comments

Post a Comment

Popular posts from this blog

How much to cover $1M CI Life?

How much total to cover $1M CI TermLife? Different insurers CI coverage may vary;  - pre-post consultation duration by its Panel doctors,  - early or advanced stage CI  - premium overlay (limited pay or lifetime pay, fixed level or age adjusted cost) - Termlife coverage (accelerated or fixed) - Lifetime or limited age tenure. - in their T&Cs (fine-print). Insurers may not even last our lifetime, even being sold off to another; worse if it closes its biz CI segment. So my opinion is to buy CI through various insurers; better local ones like INCOME, GE Life, Singlife-Aviva.   I am not insurance agent.  But I am familiar with the cost which I paid for.  So allow me to give you some cost estimate to cover $1M in their lifetime over next 60 years! ~~~~~ Someone says CI is good to have.  Should it strikes, your loved ones will suffer to take care of you. CI insurance has to work hand in hand with H&S + 10% Co-Pay Assist to cover As-charged cost....
Read more

Can retire with $1k monthly? got bluff me?

  Someone who is my cohort just retired last year.  He candidly shared that his average monthly expenses is less than $1000. Some background that I gathered: 1.  Married with a working adult child. 2.  Stay in condo; ever spinned n profited from few property sales. 3.  Still need to support aged parent with 4 siblings. 4. No car. So I did some quick calculation to see sure or not to retire with $1k monthly expenses. Think his $1k p.m. is thin retirement. Utility & PS, water : $100 p.m. Telco: $20 p.m.  MCST: $200 p.m. (where got so low maintenance?) Medishieldlife: $800 / 12= $66 p.m. (can pay by CPF-MA) H&S Shield Plan: $1200 / 12 = $100 p.m. (excluded $680 deducted from MA) Support his parents: $2000/5 = $400. Basic fixed monthly overhead:  100+20+200+100 + 400 = $820 With just $1000 p.m., net available for meal = $1000 - $820 = $180 p.m. (or $6 per day) Not forgetting that he just retired, he need to fully pay his last year personal income t...
Read more

AIA 20yr endowment payout at 6.6%, can trust?

One of my cohorts shared on his recent NEW endowment policy bought with AIA after 1 Jul 2021. It was his first endowment bought. Jul 2021: Single Premium: $45k paid at age 57 After Year-10,  Projected payout of $1k p.m. (or $12k p.a.) annually every year from Year-11 to Year-20 (at age 67 to 77). ($45k becomes $120k.) I worked it out on the Xirr calculator to be compounded return of 6.6%; wow it is simply too very good to believe. Based on my knowledge, I shared that if, by then, it's actual payout is $750 p.m. or $9k p.a., he should be laughing every month, at 4.6% compounded xirr rate of return; (highly unlikely to get $1k p.m.) While I agree that AIA is one of the best performing fund for past few years, this projected payout is too good to believe. I also shared a similiar 20-year INCOME Revoretire of $60k premium, payout Year-11 to 20 payout of $9.3k p.a. or $93k p.a. ($60k will become $93k) I am not insurance agent.  But I spoke to him with 10-years experience buying 18 ...
Read more