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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…
{ 2 comments… read them below or add one }
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.
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?