Insurance or Investment for Legacy Planning?
 Today, 11:35 AM
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Member  Join Date: Dec 2012 Posts: 347 |
Insurance or Investment for Legacy Planning? Hi, I need advise from the experts here.
Currently I have 2 PruTerm Vantage policies & an Aviva SAF GTL to cover my mortgage loans. I'm thinking of getting another $1m term insurance for legacy planning (cash inheritance for my children or grandchildren). The quotation that I've received from the bros here for my age now till anb 99 is about $5-6k annually. The topic for discussion is whether I should just invest the $5-6k amount annually, or to get the $1m term insurance. Assuming a return of 10% (S&P 500) compounded annually, investing $5.5k for 30 years will generate about $1m. Based on the life expectancy for male Singaporeans and my income flow, I can expect to invest for 35 years and if that is the case, I should be able to get more than $1.6m. Does it mean I should invest instead? __________________ |
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