I bought my own Vivolife policy

Wed, Apr 30, 2008

Insurance

Finally my own Vivolife policy is enforced.

I paid $5013 per year for a coverage of $150,000.

It covers me Death, TPD and 30 Critical Illnesses.

I just need to pay for 10 years and get lifetime coverage.

To me this is a wonderful insurance plan.

I am now 22 years old.

I just need to pay till my age of 32 years old and get coverage for life.

For the first 15 years, I will get 25% EXTRA coverage for FREE!

…and if I were to be involuntarily unemployed for 3 months, up to a maximum of 6 months, my premium will be waived.

…meaning I dont have to pay premium for 6 months.

In the event of death due to accident, my family gets 3 times of the sum assured, meaning that they will get $450,000.

Coupled by that, I can treat Vivolife as part of my retirement plan.

Though, I have already saved $600/mth with NTUC Income Ideal Plan for the sole purpose of retirement, I strongly believe the Vivolife policy is GOOD for me, as it allows me to convert fully or partially to annuity at the the age of 60…

…Which simply means I get INCOME for life.

hahahh….I am enlightened!

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This post was written by:

Helmi Hakim - who has written 316 posts on The Official Helmi Hakim Website.

A certified financial associate, Helmi Hakim has won praise for his patience, perseverance and practicality when solving his clients' financial concerns. For more information on how you can manage your finances better, contact Helmi Hakim at 96520134.

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3 Responses to “I bought my own Vivolife policy”

Albert Says:
13. May 2008 at 9:59 am

> convert fully or partially to annuity at the the age of 60

you better check with the policy contract whether partial conversion of cash value is feasible.

it will be the first product in market if one can surrender the cash value partially. but nothing is guaranteed unless written in the policy document.

Helmi Hakim Says:
14. May 2008 at 10:05 am

Albert >>> Yes.

You can convert the cash value in the Vivolife policy to annuity, partially or fully at the age of 60.

That is why I say, NTUC Income Vivolife policy is very good.

Very exhaustive.

Complete for anyone, who wants it for protection and also leverage on it for their retirement

Kenny Says:
19. October 2008 at 11:12 pm

Seems that $5000 premium a year for $150,000 coverage is a little expensive but maybe it’s used to cover the later years? Do you mind if I ask you what is the surrender value at the end of policy year 40 if projected at 5.25% investment return?

Albert Says:
13. May 2008 at 9:59 am
> convert fully or partially to annuity at the the age of 60

you better check with the policy contract whether partial conversion of cash value is feasible.

it will be the first product in market if one can surrender the cash value partially. but nothing is guaranteed unless written in the policy document.
Helmi Hakim Says:
14. May 2008 at 10:05 am
Albert >>> Yes.

You can convert the cash value in the Vivolife policy to annuity, partially or fully at the age of 60.

That is why I say, NTUC Income Vivolife policy is very good.

Very exhaustive.

Complete for anyone, who wants it for protection and also leverage on it for their retirement
Kenny Says:
19. October 2008 at 11:12 pm
Seems that $5000 premium a year for $150,000 coverage is a little expensive but maybe it’s used to cover the later years? Do you mind if I ask you what is the surrender value at the end of policy year 40 if projected at 5.25% investment return?