Single premium insurance also contributes to your AUM computation for service fees.
Surrender value at $160K is more than $144K loan at Day One so there will be NO margin call and NO penalty fee.
Just treat it as $144K margin account with your own free up cash of $144K
Read? When Your Bank RM Called??? (4)
hyom 26 December 2020 at 09:09:00 GMT+8
Hi CreateWealth8888,
From reading your blog, it seems like you are a fan of CPF. To persuade a savvy CPF fan to buy an annuity is really quite an achievement for a salesman, even if the product is good.
If you don't mind, may I ask what is your rationale for buying the annuity? Mainly for the low interest? If interest rate shoots up later, are you allowed to exit? If yes, at what penalty?
I wish you all the best in this new annuity plan!
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