Insurance
The lousy NTUC Income Vivolife
By Wilfred Ling, The IFA on Duty  •  August 3, 2010
[caption id="attachment_3583" align="alignright" width="150" caption="Photo by geishaboy500"]Photo by geishaboy500[/caption] Today I decided to do some calculation on Vivolife. Why? Because I’ve been hearing that this is a very lousy whole life that gives poor value for money. But Vivolife is a whole life policy that is never meant for savings and yet people continue to calculate its yield like as if it is a saving plan. Anyway, I decided to calculate the yield if it is treated like a saving plan (when in reality it is NOT). Parameters: Last age 0, female, limited premium 15 years of $1427 annual premium for sum assured $120,000 with $150,000 as the minimum death benefit for the first 15 years. Read more...
Read the full article
By Wilfred Ling, The IFA on Duty
Wilfred Ling is a Chartered Financial Consultant with Promiseland Independent Pte Ltd. He is a fee-based financial planner by profession.
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

2 Comments

2 responses to “The lousy NTUC Income Vivolife”

  1. Gareth says:

    hi, I am keen on vivolife, but due to my hypertension, i got a loading of $1361.5 (total of $6805 for a 5 year payment term). The coverage of $100K. Total premium paid is $51,454. Izzit worth it? Thank you.

    • Derek Lim says:

      Hi Gareth,

      I am not in a position to advice you. It would be better to ask the author or a licensed adviser.

      If you ask me, I never regard insurance as savings. I do have a TM Asia Life Legacy WL plan. My coverage is $60K (Death, TPD and CI). I am paying $102.50/mth for 25years which is pretty close to yours. As mention earlier, my main intention is coverage. I will probably never cash it out if I don’t suffer any major mishaps.

      I guess the question you should ask if you are looking to grow your savings or for coverage?

Leave a Reply

Your email address will not be published.

Read More Articles
More from thefinance
%d bloggers like this: