TM #goWealth Enrich is a single premium investment linked plan (ILP) that offers no medical underwriting to provide death and accidental death benefits, plus loyalty bonuses to make your money work harder for you.
ILPs are deemed complex instruments and I have a write up to help you determine if they are good or bad for you. All I can say is that this product fits into the description in my write up regarding not leaving investments to fluctuate during the probate process but instead payout into the estate, facilitating legacy planning.
The Add, Remove or Change of Life Assured feature certainly reinforce the estate legacy planning intents and purposes of this plan.
Naturally the death benefit amount is nothing to rave about, but it beats 101% of the policy value.
There is a big list of funds to choose from and there’s a good chance you can find what you are looking for.
Do not hesitate to reach out to me for estate planning with this product if there is a financial planning purpose match.
Some things to note. This review post will get dated. And the product might not be available for new subscriptions at some point. Hopefully this serves as reference for future policyholders who have forgotten what they have taken up.
There can be shifts in planning narratives over time. For example, limited premium tenures gain popularity over the years because people are less confident of their future earning capacity or sustainability of income levels. Regular payout features gained popularity when more and more people are in tune with the FIRE (Financial independence retire early) movement. An extended period of low interest rates brought down insurance products’ returns yield for policy holders, but now in a rising interest rates environment, things are set to change.
TM #goWealth Enrich may or may not fit into your financial plans. Understand that there is no best plan for all time, but there is a method to objectively facilitate your decisions. Read more about it here.
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