Aia - Anybody Cash Out Their Policies?

[coco238 0]

Hi,

Anybody cash out their policies??

[Air 0]

Hi,

Anybody cash out their policies??

Why would anyone want to do that?

On a side note, I think those ppl who Q at the AIG building, waiting to terminate their policies at the onset of the news are silly...they are inadvertently raising the chances of the company going kaput...

[TPY 0]

Why would anyone want to do that?

On a side note, I think those ppl who Q at the AIG building, waiting to terminate their policies at the onset of the news are silly...they are inadvertently raising the chances of the company going kaput...

What so good if AIA go kaput. It is the starting of the stray cards where one I goes down the other may foolow to topple. Soon you may see finanical crisis in Singapore where all banks started to bankrupt,,,, affecting jobs and people lost the rice bowl. Tian ah!

So the power grapevine is scarier, Zai lei, everybody we needed to stay united in this moment. Stand up for Singapore .....

[TYM 0]

Cash out now lugi leh .

Wife and I got a few policies with them, car insurance also AIA. Just hope they are really ok as reported.

[TPY 0]

Cash out now lugi leh .

Wife and I got a few policies with them, car insurance also AIA. Just hope they are really ok as reported.

I don't think AIA will kaput. But if everybody started to listen to gossip and draw out, Bo dai ji also become kaput.

Unity is the strengh, the community can pull down and support a structure. It depends on which way to go.

So how you want to follow the aunties/uncle and bring down AIA and tune into a fnancial crisis for Singapore or be rationale in putting a wait and see approach? It is idividual's choice!

[Air 0]

I don't think AIA will kaput. But if everybody started to listen to gossip and draw out, Bo dai ji also become kaput.

Unity is the strengh, the community can pull down and support a structure. It depends on which way to go.

So how you want to follow the aunties/uncle and bring down AIA and tune into a fnancial crisis for Singapore or be rationale in putting a wait and see approach? It is idividual's choice!

My sentiments exactly...i think those ppl are ridiculous...bo dai bo ji go terminate their policies without thinking of the consequences....company no fall also let them make until fall

[TPY 0]

My sentiments exactly...i think those ppl are ridiculous...bo dai bo ji go terminate their policies without thinking of the consequences....company no fall also let them make until fall

Actually I read from news, AIA is giving those withdrawer a chance to sign back in a week with no penalty.

So maybe they are drawing out now and sign back later just like buying an inssurance to their policies. Of course to buy them is using their precious time. Worth it or not?

[coco238 0]

My sentiments exactly...i think those ppl are ridiculous...bo dai bo ji go terminate their policies without thinking of the consequences....company no fall also let them make until fall

Yeah! same thinking

[summerholiday 2]

agree, withdraw oni make situation worse..

i got 3 with them, check with my friend a prudential advisor, also advise me to hold..

lik wat was on the newspaper, they had sufficient funds.. thta's why MAS allows them to sell policies..

[Jgal 0]

heee hee.. didnt realise this was very long ago

Edited April 3, 2011 by Jgal

[joey8 2]

At least if you need to terminate any insurance policies, wait till at least

it is breakeven, normally more than 10 years.

Mine is also with AIA company.

[muffin 2]

normally pre-mature termination result loss.

[bepgof 20]

So far I've 'cashed out' only one insurance-related policy, Aviva's "His Assurance Gold" plan. Took in 2003, purposely terminated it in 2012. Lost abt $2K without 'timed value of money' being taken into consideration and the opportunity cost.

Insurance is one of the '4 assets class' - besides covering financial liabilities (life, medical, investment, saving....), it is part of retirement planning as well. Meaning: it is a 'cash inflow' source when no earning capability. It is a 'long-term' planning process.

One important features policy holders must understand: as time passes, the 'liabilities' change - meaning policies need to be 'reviewed' constantly - perhaps at 3 yrs interval.

I bought numberless policies till I 'lost count' over the years (since 1993). Lately, I 'summarise' them, get some 'shocks'. Many cover 'the same things' - death, TPD...Also discover many 'raiders' paid in cash with no 'cash value', esp those CPF-related. Medishield & PAID.

Also sum up those 'projections'...also shock - if surrender, get back less than what the premiums have been paid - life/illness types.

Example: Yearly premium $1500 for 20 yrs can get back only 54% on what has been paid ! 100year-old life policy.

General advise, don't just buy and buy:

1. Try to get 'short-term' tenure type, so allow you to stop or switch. yearly, 5 yrs. max 10yr.

2. Try invest on those with 'cash value'.

3. CPF type has no choice.

4. Review it constantly.