ONG SIN YEE asked 1 year ago
Dear KC,
Good day to you.
I known you for the past 20 year when that time I wanted to buy the investment link plan from great eastern. You have advised me to reduce the sum insured previously.I also have another supreme living care 36CI bought in year 2002 with sum insured 50k which still active now. Thanks for your previous advice.
I am 46yrs old now.
I bought GREAT PROTECTLINK INSURANCE (smart medic 150) sum insured 30k with rider waiver of TPD and critical illness in yr 2004.
Past 2 years I received letter from GE ask me to increase my monthly premium from RM145 to 215.
My current Total Investment Value is 20k. This value already maintain since 2019 till now (fluctuate) as the high increase of insurance charge.
I need your advice on the following option to avoid the plan lapse:
My monthly investment was lion fixed income fund which is never changed so far. Should I change to more aggressive fund for eg.lion balance fund to get more return in value?
1. Reduce the sum assured for the basic plan.
2. Reduce the sum assured and term for the rider(s), if applicable.
3. Downgrade the plan of the rider(s), if applicable.
4. Cancel the attached rider(s), if applicable.
Thanks again for your help
Sin Yee
KCLau Staff answered 1 year ago
Hi Sin Yee,
Glad to hear from you.
- Because your plan is long-term, don’t be afraid to allocate your investment fund in the policy to more aggressive portfolio – preferably the one with equity exposure. You can research more on Lion Advanced Strategic Fund and the Lion Enhanced Equity Fund.
- For your insurance needs, I couldn’t advise without knowing your real insurance needs. Generally, if there are riders that you don’t need, you can reduce or remove them to save insurance charges.