MikeDirnt78
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Plus he states that all insurance policies suck, which clearly isn't true. So very emotional reasons.
Endowment policies suck generally.
Whole Life policies are debatable because of the higher insurance coverage + savings portion.
I did share my own experience with POSB Invest Saver in the other thread.
Instead of putting $300 into an endowment plan, I put the money into STI ETF.
Here are the numbers.
Months 36
Total Invested $10,800.00
XIRR 6.16%
Total Dividends $596.97
Market Value $11,106.12 (25/Jul)
+ You can choose to "surrender" this plan any time
+ You see good returns after a few years
+ Regular savings plan like an endowment plan. ie You pay monthly
+ Low cost and ~100% invested from the 1st payment
- Without riders and insurance coverage
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