- You want the flexibility to choose your own level of protection and investment.
- You wish to vary the amount of your premium payments or coverage based on your own personal financial situation.
- You have the flexibility to choose the type of funds based on your risk aptitude.
- You want a savings plan to maintain your standard of living after retirement.
When it comes to picking the right plan, always
- Consider the amount you wish or can invest in the plan, either in single or regular-premium plans.
- Remember to also consider the types of funds and the level of protection you need.
- Evaluate your options carefully to find the right plan with the right fund to suit your needs.
Basic types of Plans:
- A single premium-plan features a single lump-sum premium payment, so you don’t have to worry about making regular premium payments, and worrying about lapsing.
- The regular-premium plan is a more suitable plan for you if you don’t want to invest a large sum at the start of the plan.
Investment-linked plans, like other types of investments, are exposed to investment risk. The unit price of an investment fund (managed by the insurance company) is linked to the total value of the plan, which fluctuates with the movements in the unit price. You may realise a gain or loss when you sell your units, and may even get less than what you invested. Past-performance of an investment-linked fund's track record is only a guide to future performance.