I have been thinking for months whether to buy universal life plan to leave some money for my 2 sons when I am not around. Beside property, Universal life plan is another gift to leave for my 2 sons. .
I finally decide to buy a universal life plan from AIA. Due to my so call good health after the medical screening. I am given 6.5% discount.
Insured amt = US$1,000,000.
Initial premiun = US$261,000
Premium class = Preferred
Rate on initial premium for 1st 7 yrs = 4%
I will be borrowing against my portfolio to pay for my US$261k premium.
Borrowing cost is est 1.06% now.
rdgs
Vic