I received an email from a reader on an ILP she bought and I am going to share an edited version here.
Please remember that life insurance is essential but the cost of insurance should be kept low.
Hi AK,
I have recently started to read your blog and I really appreciate how you post unbiased financial advice for your readers. As such, I am really hoping you can help me with this dilemma that I have.
I have graduated last year and bought an ILP from my friend. I am investing $xxx every month into this plan for about x months now. This is a 30 year plan, and recently I'm having second thoughts about whether to continue this plan or not.
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I was wondering if I should discontinue the plan (because the costs are exorbitant) and invest the money myself in the OCBC BCIP, or should I ......