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NTUC Income Vivosave (WLE) 15 years
29 Oct 2013 (130 views)

RATING: AVOID

You can read the benefit illustration that is shown in the PDF below.

This policy requires you to pay a premium of $2,322 for 15 years and to keep it for as long as you wish. It provides a guaranteed cash payment of varying amounts after 15 years, as shown in the benefit illustration. These cash benefits are assumed to be accumulated with the policy to earn interest which has been projected at 3.5% per annum, but are not guaranteed.

During the first 5 years, the death benefit is 105% of the premiums paid plus accumulated bonus. This seemed to be rather low. After 5 years, the death benefit is supposed to be higher, but the amounts shown in the benefit illustration appears to be quite low. This is rather confusing to me. I can only conclude that the death benefit is negligible.

The surrender value for the first 15 years is lower than the total premiums paid (on the lower projection) but is only slightly higher on the optimistic projection. This suggests a break even point of 15 years. It is quite poor for a policy that does not provide any significant life insurance cover.

At the end of 35 years, the guaranteed cash value is $43,712 (i.e. compared to total premium of $34,826) and the non-guaranteed value ranged from $52,753 to $80,551. The yield is only slightly more than 3% on the optimistic assumption. This is low for a policy that is invested for 35 years.

The distribution cost of $1,846. This is about 80% of the annual premium. This is rather high.

There are better ways for you to invest your savings. Talk to a financial adviser listed here.

The following table shows how you can can get by investing on your own at various yields. They are more attractive than the return provided by the life insurance policy.

Annual saving Yield End of 15 years End of 35 years
2322 1% 37,751 46,063
2322 2% 40,958 60,862
2322 3% 44,482 80,340
2322 4% 48,355 105,951
2322 5% 52,611 139,592


NTUC Income Vivosave (WLE) 15 years
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RATING: AVOID

You can read the benefit illustration that is shown in the PDF below.

This policy requires you to pay a premium of $2,322 for 15 years and to keep it for as long as you wish. It provides a guaranteed cash payment of varying amounts after 15 years, as shown in the benefit illustration. These cash benefits are assumed to be accumulated with the policy to earn interest which has been projected at 3.5% per annum, but are not guaranteed.

During the first 5 years, the death benefit is 105% of the premiums paid plus accumulated bonus. This seemed to be rather low. After 5 years, the death benefit is supposed to be higher, but the amounts shown in the benefit illustration appears to be quite low. This is rather confusing to me. I can only conclude that the death benefit is negligible.

The surrender value for the first 15 years is lower than the total premiums paid (on the lower projection) but is only slightly higher on the optimistic projection. This suggests a break even point of 15 years. It is quite poor for a policy that does not provide any significant life insurance cover.

At the end of 35 years, the guaranteed cash value is $43,712 (i.e. compared to total premium of $34,826) and the non-guaranteed value ranged from $52,753 to $80,551. The yield is only slightly more than 3% on the optimistic assumption. This is low for a policy that is invested for 35 years.

The distribution cost of $1,846. This is about 80% of the annual premium. This is rather high.

There are better ways for you to invest your savings. Talk to a financial adviser listed here.

The following table shows how you can can get by investing on your own at various yields. They are more attractive than the return provided by the life insurance policy.

Annual saving Yield End of 15 years End of 35 years
2322 1% 37,751 46,063
2322 2% 40,958 60,862
2322 3% 44,482 80,340
2322 4% 48,355 105,951
2322 5% 52,611 139,592