Have been getting some recurring questions as well as repeated search queries reaching this site. I think it will be good if I can answer some of the more frequently asked questions about insurance.
How to calculate charges for investment-linked policies?
The various charges, such as distribution costs and sales charges, should be spelt out on the Benefit Illustration.
For assurance charges relating to the costs of insurance, there are pages dedicated to displaying entire tables of numbers, usually accompanied by an explanation on how to calculate the charges. For example, for a 30-year-old male non-smoker, the table relating to the death benefit will display 0.70 for every $1,000 of sum assured. If the death benefit is $300,000, one multiples 0.70 by 300 to get the assurance charge for the death coverage.
Best see an ethical financial adviser to dissect any ILP.
Is NTUC Income’s integrated Medishield policy ......