Are u sure u are reading/understanding the advert correctly? Do u have those policies to conclude it is not real? Do u have a good understanding of the various types of insurance policies and what the end result would be?
Let me set some common understanding about insurance policy definitions first, for this discussion to be more fruitful:
1.Whole Life policy = Protection + Savings
2.Endowment = Less Protection + More Savings (as compared to 1)
3.Term = Protection
4.ILP = Term + Investment
5.Whole Life with multiplier = Whole Life + Term
I quote a forumer who posted this: “Insurance is not meant to make you rich. Investment is meant to make you rich. Insurance will pay for that event (Death/TPD/CI) that you insure yourself for. Investment may pay depending on market conditions.”
What was advertised: # 1 and #2: I can tell u # 1 is true as my aunty got it!
Your comments apply more to #4, and #3 and #5 as well.
What is a question mark: those who bought whole life or endowment later, will these still earn 4%- 5%. That's for those who bought or are buying to evaluate.
So make S.U.R.E.: source, understand, research and evaluate for your own good!