BT Money Hacks Ep 86: Reasons to avoid ILPs or investment-linked insurance policies
10:53 min
Synopsis: Updated fortnightly on Mondays, The Business Times breaks down useful financial tips.
In this week's episode we look at why you might want to avoid an investment-linked insurance policy, or ILP for short.
BT's digital editor Chris Lim hosts Christopher Tan, chief executive of Providend - a financial advisory firm - as they discuss the following:
What is an ILP? Understand mortality charges too (0:36)
Where does an ILP fit in a person's portfolio, and why shouldn’t someone buy an ILP? (1:34)
As you get older, especially from the age of 50, more of your premium goes into paying the mortality charge instead of investments (4:42)
If ILPs aren’t the answer for many financial goals, what is a step-by-step approach towards both insurance and investment (7:35)
Produced by: Chris Lim and Ernest Luis
Edited by: Adam Azlee
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