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I hear what you're saying and that's what I thought back then as well.But I'm telling you that Sunlife was willing to disclose their COI ratesback then so if they're still willing and you seem to be someone wholikes to really go depth on something, why not take out the guessesand just get the COI rates and actually mapped it out on a spreadsheetand find out for real if your guesses are correct?That's what I did and I found out that Sunlife's VUL was actuallythe cheapest and since performance could not be predicted, Ithe cheapest option would be my best bet.Also you have to pin down an exact age/year you want to evaluatethe performance for comparison purposes.And yes the VUL's performance would be really really poor during the first yearsbut again at age 65, the VUL comes out ahead vs BTID.So if you plan to keep the insurance portion for just a few years thenmaybe BTID is indeed the best option.This was the pros I identified when I got my Sunlife VUL btw1.) Very flexible payment options.i.e. I can pay how much I want anytime as longas I complete the annual premium within the policy yearI also get points from BDO when I pay my premium I usually pay twice a month.2.) Estate tax free as opposed to BTID where my investmentis exposed to estate taxes.3.) Insurance coverage is flexible. I can actually lower myinsurance coverage when I'm say older and I only needit for funeral expenses or something.You can't do this with term insurance unless you're payingbig big money for term insurance. Most if not all of the termproducts have minimum requirements based on the faceamount (i.e. at least 1M) or based on the premium (i.e.at least 10k)I was told by Sunlife that I can lower my insurancecoverage and hence escape the increasing insurance chargesup to as low as 300k.That's just Sunlife. My other VUL policy can go as low as5x the premium if I want.But that's something to think about if you plan to keepthis long term and you expect to have lesser need for insurance.Not a total lack of insurance.. just lesser.4.) Cheaper charges overall compared to BTID at age 65.And this was the only con I identified.1.) Expensive management fee! 2% p.a. tskBut thankfully there's the loyalty bonus to mitigate the higher fee.(I invest in funds that charges up to 1.5% p.a. max so2% is expensive for me.)
My agent just replied. Just want to share the info if someone else has the same question To update your account details after getting married, one should submit a copy of marriage certificate, photocopy of a valid ID bearing your married name and a filled-out non-financial amendment form (which you should sign in the presence of any disinterested person as witness). These should be all sent via mail to their office
recently bought 5M insurance coverage for my husband
