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@@Sethisfy educated on what sense? Its your own perverted claims. You can't explain what u have said. You making claims on ILP but you didn't explain on what types of ILP. You didnt know your shit so you left the industry feeling sorry for yourself with hate. Lol
@@Sethisfy you know there are 3 types of ILP? I bet u didnt know the functions and how it works. Perverted one sided view on your claims of agents. Also, your other video on IFA and FA, you don't even know what you are talking about when it comes to comparisons. You hide and mislead others without saying the cons of distributors channels when products rights are revoked. What happens when it's sold and years later it requires services??? You also mislead others by saying best. What is best is best in your current situation. U mean your life situation doesn't change at all? You are just a failed agent who is sour about the industry. Probably a failure or someone whose license has infraction.
@@Sethisfy be on guard? Lol. Your first initial contact is already be on your guards. U have high mistrust because you are misguided and misled. Just admit that you are a failed agent going after money while u are in the industry.
Hi Seth, Thank you for this video. It is very informative in my point of view which helped me to understand more about ILP, especially on the fees portion. What I did after viewing this video: 1. Got a 3rd party insurance agent to review the plan during the 14 day cooling period. 1. Terminated my newly bought ILP during the cooling off period sucessfully. 2. Got back 100% of my initial costs upon sucessful termination of the policy. 3. Switched to a term plan instead & kept most of the monies.
Hi Adrian, I am glad that my video was helpful and I also appreciate that you took the time to pen this comment. Be sure to also look into investing the savings if that is something required in your financial plan. Do consider also subscribing to my Telegram if you haven’t already done so. Appreciate the support. Thank you!
hi, i am totally late to this video and i wish youtube algo helped me earlier. i just purchased an ilp that was marketed as a "critical illness plan" to me - dont get me wrong, there is the CI aspect of things but i wasn't aware of how shitting the ILP aspect is. also, as expected, coverage is shitty as well. i just paid my first yearly premium and freelook literally ends today, any exit strategy or next steps will you recommend?
You can still try to freelook the policy. The 14 days start after you receive the policy documents and in my experience insurers tend to be flexible with the period
Hi Seth, would like to ask how do I know how many % allocated to investment and how many % to insurance? I pay on a monthly basis meaning mine is regular premium? Bought a policy recently and specify to agent that I do not want a ILP but now i am suspecting that policy is a ILP..
It depends on the policy itself. Some are almost entirely investment and some are split between insurance and investment. You can send me an email if you want to confirm the nature of your policy
I have vague plans to talk about ILPs again but you can refer to this in the meantime: ruclips.net/video/RkSLBDinZBg/видео.html Very likely to be similar.
you can reverse the formula actually. assuming you only have supp charge 3.9% a year, compounded over 10 years for the first year premium, actual premium allocation is only (100-3.9%)^10= 67.17% in the first year, not counting the fund management fee yet (multiple layers of fund management fee because of sub fund - eg aia fund buy into aia fund which buy into another company fund) . so instead of saying 100% premium allocation, 32.83% of your first year premium is guaranteed in fee (supp charge). you can apply same formula for y2 to y10 premium. total fees add up to 2 years out of your 10 years worth of premium. Hope this helps :)
Hi Seth this is very informative. I started ILP since 2017 and watching this makes me decide to switch to Term Insurance? Can you help me what to do please..
You will be making a wrong choice by believing what this sethisfy guy says. He didnt address my questions to him on the different types of ILP and makes a new video last month on different types of ILP. It is until I told him about the different types, then he recalibrated his video. This sethisfy is spreading misinformation
Sorry I missed your comment. You have to see whether your health condition has changed since buying that policy. If so you may have no choice but to get coverage from your existing ILP. Otherwise you can check out this newer video I made addressing similar questions: ruclips.net/video/KTB0arYj4rk/видео.htmlsi=ji4JNvAZgEsW8CV5
@yrchin6635, he personally has ties with the platform he is advertising. Go look at my comments debated with him. He can't even answer my questions from his biased views. Yet, makes another video to recalibrate his title and honors my name 😂😂😂
I wanted to buy a retirement policy and my ntuc agent tried to convince me to buy an ILP, citing monthly returns. He pissed me off bec he tried to make me look unsavy. In the end, I just bought the retirement policy through him.
Why even buy from him if he pissed you off? 😂 I don't like retirement plans also. They are basically long-term savings policies: ruclips.net/video/q3tJzevmu3Q/видео.html
I have a ilp. Monthly i am paying $300. Since 2012. Now is 10years i thought of surrender this policy but i realised the remaining amount that i will get back is only 3000 plus. Agent told me that this happen because i did a 14,000 plus withdrawal. So now if i terminate my policy i really lost quite alot. Agent advise to stay on another 5 years, i might break even. Whats your opinion on this?
The loss is already incurred whether you terminate the policy or not. The question now is: to grow back your loss, will it be better to remain in the ILP, or is there a better instrument?
It's definitely an upcoming video. Already filmed it a while ago but probably refilming again because I think I wasn't very clear the first time round.
Single-premium ILPs are usually better than regular premium ILPs, but that's about it. Underlying funds are often expensive high annual management funds. Also, some “pure investment” policies end up being regular premium like the one I analysed here: ruclips.net/video/RkSLBDinZBg/видео.html
Hi, i already commit into 2 years, first year 10k, 2nd year i chg to lower plan which is 6k. Im not sure should i cancel it. Is there a way to contact u for an advise? or a zoom meeting. i dont mind paying ur time.
Thanks for speaking the truth 🫰 but there’s not much of term insurance to purchase myself online, still have to go through agent? Also term insurance is it guaranteed renew each year? Will the company decide to stop me from buying for next year if I hv claim this year?
Term insurance can be bought quite readily online. You can select a tenure and the company is obligated to cover for the number of years you have bought it for.
@@Sethisfy typically the surrender value will be reimbursed to my a/c in few days? Well my policy is almost 3 years. Way beyond the the free look period. After watching ur videos, i finally had the courage to cancel my ilp. Ure a saver man. Thank you 🙏
Can advise me on smart life advantage from great eastern? I have been paying for the past 6 years, 2400 per year = $14400 😭 what should i do? Would you advise me to surrender
I have 50 percent for protection, critical care, early critical care, accident and death coverage The other 50 percent only goes to investmnet in 2 funds- 1) greatlink lifestyle balanced portfolio (mixed assets) 2)greatlink fareast ex japan equities fund(equities)
You have already incurred the worst parts of the ILP which is the upfront costs. It's a sunk cost that has been incurred whether you keep or maintain the policy. You should probably keep it since the coverage was underwritten 6 years ago where your health is likelier to be better, and you can take it as an increasing term + investment, although the investment funds can be quite pricey. I will make a video about this topic.
Term policies are without cash value. Whole life policies tend to refer to traditional policies with savings element. Insurance company will invest the premiums and declare bonuses each year. Policyholder don’t have a say in the investment direction. ILPs are investment-linked policies. Usually a term packaged with investments + loads of fees. These days the insurance component is reduced, but the fee structure is still costly. One can insure and/or invest without this kind of cost structure
There are advantages to having protection ILPs over traditional insurance policies including par products or term policies. Context needs to be taken into consideration. Furthermore, there are investment focused ILPs as of the time of this video and you failed to highlight that (wonder why?).
Name the advantages. Many people would wait with bated breath. I have covered investment focused ILPs in other videos. This video as I have specifically mentioned is about regular premium ILPs sold as life coverage and investment 2-in-1 products.
@CHeeKMunk, don't tell him the advantages. He is learning from you. As I have told sethisfy on the different types of ILP and he redo a video on it. Even till today, he can't say what are the different types of ILP and their functions that can benefit which category group of people. He is taking information and then redoing another video like he always did. Then he tries to influence others to his biased view for his tied relations with other platforms.
Talking nonsense. There are 3 different type of ILP. Not all are insurance loaded. You are also inclined on high term plan without saying the cons when there is no cash value. On the flipside, you are neglecting the part where the terms comes to an end, and the insured faces uninsurability. Can see you are motivated to your agendas with all the cons without the pros.
Dear insurance agent, the gig is up when you are in the online space. Instead of wasting your time trying futilely to convince people online where they have a lot more unbiased info, you should quickly find more clients offline before it is impossible for you there too.
@@Sethisfy i am explaining on your flawed statements and misguided claims. Yet, you have no answers to my answers, but you said 'instead of wasting time on the online space'. What is there to hide? You are a failed agent because u are going after money. That is why u left. Admit it
@@Sethisfy your recommendation on investing the rest and buying high term without considering the fact that it has no cash value and there is expiry to it. Everybody health conditions and situations are different. Luckily you left the industry, you could have mis-sold many policies to your clients coining altogether as one. Thank God you left, else clients suffer under your misguided recommendations.
There is no need to hide. My name and face are publicly revealed while you are anonymous. I will make a video to address your comments to continue to expose the truth about the lousy products you sell. Please consider delivering better value to your clients who have trusted you with their finances. It is unconscionable to sell them subpar policies.
@@Sethisfy you cannot addressed what is being said, but you cherry picked on the points to paint to whichever story you wanted to write. Yet, without introducing products, you are already in a high defensive mood making other claims on lousy products. You have a very high ego which fails yourself as an agent. With all your self centred views, it is no wonder you left the industry feeling sour b
Seth, can I please email you my policy as well, it is from HSBC, I tried to terminate months ago and I could not, I pay HKD 3000 per month , its called a wealth product plan, I am not sure as well, when the agent was explaining numbers , it seemed great. PLS HELP mine is a 5 year payment plan, I want to make sure I terminate if I need to now ! Pls helpppp ! Can I pls send you the brochure of my plan ?
Hey if you enjoy my content please check these out:
Join my Telegram for more content and great deals! sethisfy.com/telegram
💳 Credit card deals: sethisfy.com/cards
🔥 Easy money: sethisfy.com/deals
You are misleading others. There are 3 different types of ILP. Not all are insurance loaded.
I wonder what is your motivation?
Motivation is to get people better educated so they can be on their guard against agents like you…
@@Sethisfy educated on what sense? Its your own perverted claims. You can't explain what u have said. You making claims on ILP but you didn't explain on what types of ILP. You didnt know your shit so you left the industry feeling sorry for yourself with hate. Lol
@@Sethisfy you know there are 3 types of ILP? I bet u didnt know the functions and how it works. Perverted one sided view on your claims of agents. Also, your other video on IFA and FA, you don't even know what you are talking about when it comes to comparisons. You hide and mislead others without saying the cons of distributors channels when products rights are revoked. What happens when it's sold and years later it requires services???
You also mislead others by saying best. What is best is best in your current situation. U mean your life situation doesn't change at all?
You are just a failed agent who is sour about the industry. Probably a failure or someone whose license has infraction.
@@Sethisfy be on guard? Lol. Your first initial contact is already be on your guards. U have high mistrust because you are misguided and misled. Just admit that you are a failed agent going after money while u are in the industry.
Hi Seth,
Thank you for this video.
It is very informative in my point of view which helped me to understand more about ILP, especially on the fees portion.
What I did after viewing this video:
1. Got a 3rd party insurance agent to review the plan during the 14 day cooling period.
1. Terminated my newly bought ILP during the cooling off period sucessfully.
2. Got back 100% of my initial costs upon sucessful termination of the policy.
3. Switched to a term plan instead & kept most of the monies.
Hi Adrian, I am glad that my video was helpful and I also appreciate that you took the time to pen this comment. Be sure to also look into investing the savings if that is something required in your financial plan.
Do consider also subscribing to my Telegram if you haven’t already done so. Appreciate the support. Thank you!
Sadded, i got tricked by a bonus 1 month premium when in NS and stuck with a 10 year ILP till now
hi, i am totally late to this video and i wish youtube algo helped me earlier. i just purchased an ilp that was marketed as a "critical illness plan" to me - dont get me wrong, there is the CI aspect of things but i wasn't aware of how shitting the ILP aspect is. also, as expected, coverage is shitty as well. i just paid my first yearly premium and freelook literally ends today, any exit strategy or next steps will you recommend?
You can still try to freelook the policy. The 14 days start after you receive the policy documents and in my experience insurers tend to be flexible with the period
Hi Seth, would like to ask how do I know how many % allocated to investment and how many % to insurance? I pay on a monthly basis meaning mine is regular premium? Bought a policy recently and specify to agent that I do not want a ILP but now i am suspecting that policy is a ILP..
It depends on the policy itself. Some are almost entirely investment and some are split between insurance and investment. You can send me an email if you want to confirm the nature of your policy
Hi seth, are you able to look at my policy as i'm contemplating to surrender my policy. Im close to 3 years in
I bought PruSelect 500&/month, how should I sent it to u to analysis?
Even if the policy says 100% of premium invested? Seth can you do a review on APA Pro Achiever 2.0(A 100% investment ILP)? Will really appreciate it.
I have vague plans to talk about ILPs again but you can refer to this in the meantime: ruclips.net/video/RkSLBDinZBg/видео.html
Very likely to be similar.
you can reverse the formula actually. assuming you only have supp charge 3.9% a year, compounded over 10 years for the first year premium, actual premium allocation is only (100-3.9%)^10= 67.17% in the first year, not counting the fund management fee yet (multiple layers of fund management fee because of sub fund - eg aia fund buy into aia fund which buy into another company fund) . so instead of saying 100% premium allocation, 32.83% of your first year premium is guaranteed in fee (supp charge). you can apply same formula for y2 to y10 premium. total fees add up to 2 years out of your 10 years worth of premium. Hope this helps :)
Great information. 👍
Glad it was helpful! Thanks for taking the time to leave a comment as it helps the channel 🙏🏻
Hi Seth this is very informative. I started ILP since 2017 and watching this makes me decide to switch to Term Insurance? Can you help me what to do please..
You will be making a wrong choice by believing what this sethisfy guy says. He didnt address my questions to him on the different types of ILP and makes a new video last month on different types of ILP. It is until I told him about the different types, then he recalibrated his video. This sethisfy is spreading misinformation
Sorry I missed your comment. You have to see whether your health condition has changed since buying that policy. If so you may have no choice but to get coverage from your existing ILP. Otherwise you can check out this newer video I made addressing similar questions: ruclips.net/video/KTB0arYj4rk/видео.htmlsi=ji4JNvAZgEsW8CV5
any term insurance and health insurance policy which you recommend?
You can try having a free consultation with the people @ MoneyOwl: sethisfy.com/moneyowl
I tried them out and their advice is pretty good
@yrchin6635, he personally has ties with the platform he is advertising. Go look at my comments debated with him. He can't even answer my questions from his biased views. Yet, makes another video to recalibrate his title and honors my name 😂😂😂
I wanted to buy a retirement policy and my ntuc agent tried to convince me to buy an ILP, citing monthly returns. He pissed me off bec he tried to make me look unsavy. In the end, I just bought the retirement policy through him.
Why even buy from him if he pissed you off? 😂
I don't like retirement plans also. They are basically long-term savings policies: ruclips.net/video/q3tJzevmu3Q/видео.html
Luckily you bought from your agent and didn't hear this Sethisfy biased advice. He has partnership with his other platforms he is trying to advertised
I have a ilp. Monthly i am paying $300. Since 2012. Now is 10years i thought of surrender this policy but i realised the remaining amount that i will get back is only 3000 plus. Agent told me that this happen because i did a 14,000 plus withdrawal. So now if i terminate my policy i really lost quite alot. Agent advise to stay on another 5 years, i might break even. Whats your opinion on this?
The loss is already incurred whether you terminate the policy or not.
The question now is: to grow back your loss, will it be better to remain in the ILP, or is there a better instrument?
Chance upon your video, can you share what kind of insurance should individuals get to protect themselves? I dont like insurance agent :(
It's definitely an upcoming video. Already filmed it a while ago but probably refilming again because I think I wasn't very clear the first time round.
love ur vids :)
Love your comment! Thanks for watching and commenting!!
I just entered the sh*t hole last year. Damn
How many months of premium have you paid?
What are your views on pure investment policy?
Single-premium ILPs are usually better than regular premium ILPs, but that's about it. Underlying funds are often expensive high annual management funds.
Also, some “pure investment” policies end up being regular premium like the one I analysed here: ruclips.net/video/RkSLBDinZBg/видео.html
Hi, i already commit into 2 years, first year 10k, 2nd year i chg to lower plan which is 6k. Im not sure should i cancel it.
Is there a way to contact u for an advise? or a zoom meeting. i dont mind paying ur time.
I can’t promise anything but do email the policy contract to my email (found in my channel about page)
do you recommend aia pro lifetime protector (ii) for it as an critical illness protector?
No. Regular ILPs are bad for reasons that I've mentioned in the video.
He recommend you via youtube channel 😂
Thanks for speaking the truth 🫰 but there’s not much of term insurance to purchase myself online, still have to go through agent? Also term insurance is it guaranteed renew each year? Will the company decide to stop me from buying for next year if I hv claim this year?
Term insurance can be bought quite readily online. You can select a tenure and the company is obligated to cover for the number of years you have bought it for.
Hi seth. I canceled my ilp since a week a go, but ive yet to get my reimbursement. Usually how long does it take
Free look? Shouldn’t take more than a few working days.
Did you free look with your agent or the company directly?
@@Sethisfy typically the surrender value will be reimbursed to my a/c in few days?
Well my policy is almost 3 years. Way beyond the the free look period. After watching ur videos, i finally had the courage to cancel my ilp. Ure a saver man. Thank you 🙏
Can advise me on smart life advantage from great eastern? I have been paying for the past 6 years, 2400 per year = $14400 😭 what should i do? Would you advise me to surrender
I have 50 percent for protection, critical care, early critical care, accident and death coverage
The other 50 percent only goes to investmnet in 2 funds-
1) greatlink lifestyle balanced portfolio (mixed assets)
2)greatlink fareast ex japan equities fund(equities)
You have already incurred the worst parts of the ILP which is the upfront costs. It's a sunk cost that has been incurred whether you keep or maintain the policy.
You should probably keep it since the coverage was underwritten 6 years ago where your health is likelier to be better, and you can take it as an increasing term + investment, although the investment funds can be quite pricey.
I will make a video about this topic.
@@Sethisfy omg thank u so much, looking forward to the video, thanks for the prompt reply really appreciate ur honest replies. 🙌😁
Are u still in the industry?
Sort of since I run a website talking about personal finance 😉
Your outpros damn funny keep it up
Thanks for watching all the way!
is term/whole life policies considered as ilps?
Term policies are without cash value.
Whole life policies tend to refer to traditional policies with savings element. Insurance company will invest the premiums and declare bonuses each year. Policyholder don’t have a say in the investment direction.
ILPs are investment-linked policies. Usually a term packaged with investments + loads of fees. These days the insurance component is reduced, but the fee structure is still costly. One can insure and/or invest without this kind of cost structure
There are advantages to having protection ILPs over traditional insurance policies including par products or term policies. Context needs to be taken into consideration. Furthermore, there are investment focused ILPs as of the time of this video and you failed to highlight that (wonder why?).
Name the advantages. Many people would wait with bated breath.
I have covered investment focused ILPs in other videos. This video as I have specifically mentioned is about regular premium ILPs sold as life coverage and investment 2-in-1 products.
@CHeeKMunk, don't tell him the advantages. He is learning from you. As I have told sethisfy on the different types of ILP and he redo a video on it.
Even till today, he can't say what are the different types of ILP and their functions that can benefit which category group of people.
He is taking information and then redoing another video like he always did. Then he tries to influence others to his biased view for his tied relations with other platforms.
Hi Seth, another informative video!
How do you know so much? Wanna consult u further, can ya?
I have been in the industry since 2009! Sure you can leave questions in the comments. I'll make a Q&A video soon!
👍🏻👍🏻👍🏻
Thanks for the comment 😊
@@Sethisfy ty for giving me the assurance that my negative thoughts towards FAs are valid.
👍 for algo
Thanks! Very kind 🥲
Talking nonsense. There are 3 different type of ILP. Not all are insurance loaded.
You are also inclined on high term plan without saying the cons when there is no cash value. On the flipside, you are neglecting the part where the terms comes to an end, and the insured faces uninsurability.
Can see you are motivated to your agendas with all the cons without the pros.
Dear insurance agent, the gig is up when you are in the online space. Instead of wasting your time trying futilely to convince people online where they have a lot more unbiased info, you should quickly find more clients offline before it is impossible for you there too.
@@Sethisfy i am explaining on your flawed statements and misguided claims. Yet, you have no answers to my answers, but you said 'instead of wasting time on the online space'. What is there to hide? You are a failed agent because u are going after money. That is why u left. Admit it
@@Sethisfy your recommendation on investing the rest and buying high term without considering the fact that it has no cash value and there is expiry to it. Everybody health conditions and situations are different. Luckily you left the industry, you could have mis-sold many policies to your clients coining altogether as one.
Thank God you left, else clients suffer under your misguided recommendations.
There is no need to hide. My name and face are publicly revealed while you are anonymous. I will make a video to address your comments to continue to expose the truth about the lousy products you sell.
Please consider delivering better value to your clients who have trusted you with their finances. It is unconscionable to sell them subpar policies.
@@Sethisfy you cannot addressed what is being said, but you cherry picked on the points to paint to whichever story you wanted to write. Yet, without introducing products, you are already in a high defensive mood making other claims on lousy products. You have a very high ego which fails yourself as an agent. With all your self centred views, it is no wonder you left the industry feeling sour b
Seth, can I please email you my policy as well, it is from HSBC, I tried to terminate months ago and I could not, I pay HKD 3000 per month , its called a wealth product plan, I am not sure as well, when the agent was explaining numbers , it seemed great. PLS HELP mine is a 5 year payment plan, I want to make sure I terminate if I need to now ! Pls helpppp ! Can I pls send you the brochure of my plan ?