Term Life Insurance

[Strong Eagle]

Anybody want to make me a quote on a 10 year, increasing premium, term policy? Face amount for about $420,000 Sing (US$ 250,000). I'm 55, non smoker, good health, can pass physical, and have been carrying life insurance for decades. I need to renew.

[financialservices121]

Hi Strong Eagle,
Based on the information posted, annual premium for SGD420k of sum assured for age 55 would be SGD3898 for the first 5 years and SGD6518 for 6th-10th years. Thank you very much

KC
9363 0161

[Guest]

Yeah, eagle, your fav., term insurance. Which makes you pay more each year as you aged and with not single returns.............hahhhahahaa.......

If that young cap starts off a life insurance of $100-150K with premium more than the typical term insurance, at your age now, this young cap premium still remains. Plus if he thinks that he only need 80k protection instead of 150k, he can surrender the additional sum assured for cash! So, what so bad about life-insurance to term insurance?

Hahahhaaaa...................term insurance only benefit when the insured die!. Life-insurance can benefit both the insured and the beneficiary.

Anyway, I have a bad gene in me that I always enjoying laughing at others..........hahahhahaa...................okay, sorry for laughing.

[Guest]

Anybody want to make me a quote on a 10 year, increasing premium, term policy? Face amount for about $420,000 Sing (US$ 250,000). I'm 55, non smoker, good health, can pass physical, and have been carrying life insurance for decades. I need to renew.

If wishes were horses, then beggars would ride.

Fools and their money are soon parted, at 55 my dear friend you are high risk, and all the blarny will not help you, when it's sell by date is passed, who wants it.

[Strong Eagle]

Too bad Guest and Guest cannot tell the difference between investments and insurance. If you think that whole life somehow magically permits you lower insurance premiums than you must believe in the tooth fairy as well. Do you really think there is a free lunch?

No, the reality is that you receive a much lower return on your investments in a whole life policy. Actuarial tables don't change just because of a whole life policy. The premiums reflect reality and a lower whole life premium simply shows that you have sorely overpaid in the early years for term insurance. Ever heard of the time value of money?

[Jaky]

Hello, Strong eagle.... I suppose you are at a stage of nearing retirement? Investing may not be a very good idea at your age depending on how much risk you can stomach. Instead of buying managed funds or even bonds, why not get a savings plan which will be more secure at the point when you truly retire.
Maybe a 5 to 10 years plan with cash liquidity would interest you?
Thank you.