If you think of an Investment-Linked Policy (ILP) as an essential financial solution that offers the best of both insurance and investment aspects, then you will need to read on to learn how you can harness its fullest wealth potential!
You might be familiar with the flexible and rewarding features of an ILP, such as higher potential returns, liquidity with partial withdrawals and top-ups, flexibility in insurance coverage and the option to take premium holidays. These of course, are liable to the varying privileges and benefits provided by the insurer.
However, I have found that even the most money-savvy of my long-time clients are not fully aware of the most important way they can make their ILP portfolio work harder for them. And this method is actually simpler than you think – to review your ILP funds!
An ILP is designed with access to different funds and you get to choose the fund you invest in. However, as ILPs are recommended to be held for the long run, the fund that you have chosen today might not cater to your changing needs that evolve with time and life stages.
Let me sum up the need for an ILP review with an apt example:
Just imagine yourself wearing the same clothing throughout ten years. All that wear-and-tear and exposure to the elements would have rendered it threadbare and ready to fall apart. That is how your ILP portfolio will be if you leave it untouched.
Recalibrate your progress by reviewing your ILP portfolio with a professional consultant. You might just uncover a treasure trove of new wealth-building opportunities. Connect with me, or any of the team at Thinkers Alliance. As an award-winning branch representing Manulife Financial Advisers, we have the expertise and experience you need to ace your ILP optimisation strategy.
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