High insurance charge on ILP

Hi Mr. Tan,
My mother has Pru-Link insurance and has paid for nearly 10 years. She is over 60 now. When she bought the policy, she was told that she only needed to pay 10 years. I looked at her policy now and realized that her insurance charge is half of the monthly premium and there is not much left in the investment account. And I found out that my mother cannot stop the premium as there is not much investment value to cover the insurance charge for long.


My question is:
1. Should I stop the insurance now, as the charge is too high?
2. If I continue the insurance, does it means that I need to give more money every month for protection?

My reply
Please bring your documents and see me in my office. I will discuss the options with you.

Observation
The greedy agent only wanted to make a fat commission and does not care about selling an unsuitable policy and the anguish that is being left with the policyholder and the family.

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C H Yak met an old man on his visit to Nanjing. He posted this message:


Quote
A Response to "Making Life Easier for The Elderly". MM Lee at the old age of 87, said this during a recent constituency event; "If I'm fit, I'm prepared to stand. But whether I stand or not, that's up to the Prime Minister". Asked if he was feeling up to it, Mr Lee chuckled and would only say: 'It's for you to judge.' [ Source : Straits Times, 14 Nov 2010 ] SM Goh announced that the Government is carrying out a 5-year study in Marine Parade to assess the implications and needs of an ageing community. He said the elderly are a special group, and Singapore need more young people to engage older Singaporeans to help them grow old graciously ... but "in a cost effective way". [Source : Today, 13 Dec 2010] During my recent trip to Nanjing, I met this interesting old man ( an octogenarian ),......[http://de-leviathan.blogspot.com]
Unquote


Read his message at SGEP. Here is an idea that is different from MM Lee.

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