Insurance
Has an entire generation been ill-advised on Financial Planning? (Part 1)
By Investmoolah  •  September 10, 2015
Whole life insurance is a financial product which many of us own or are recommended by banks and financial planners. Recently, I came across a 15 year premium whole life product with a sum assured of $100,000. Its annual premium is in the region of $2,155. It got me thinking: Are there ways to obtain better returns, at lower risk but with the same amount of sum assured? For whole life insurance, it is a combination of term insurance and an investment component. And while the benefit illustrations of this product states the projected returns are 4.75%, the actual return calculated from the table will be slightly lower, around 4.2% to 4.5%. Creating the Common Man’s DIY Insurance Jerome (age 27) decides to create his own product which replicates a similar 15 year premium whole life. To replicate the components of whole life, he does the following: ......
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By Investmoolah
A total otaku who loves anime, investing and the occasional K-drama. My financial journey begun at the age of 22 and has revolved around the concepts of "Working Hard", "Saving Well" and "Investing Wisely". Through my journey, I have realized that financial literacy is something we have learnt little during our school days but is one of the most useful and relevant skill that we have to be equipped to take on the real world. Concepts such as compounding and "common sense investing" are skills that will place us ahead of the race to retirement ...
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