endowment?

[nahbehism]

hi.. any recommended endowment? looking at 18-20 yrs horizon

 

[nahbehism]

just to bump this thread again.. I received quite a few PM.. and all asked the same qns..

basically I m looking for an endowment about 18 years horizon
<150 per month

this will be purely for saving.. I will put it part of education fund for my kid.. or maybe part of something when its 18 - 20 years later..

some asked a lot of qns.. but basically I m looking at the best payout (guaranteed!)

 

[Chennie]

just to bump this thread again.. I received quite a few PM.. and all asked the same qns..

basically I m looking for an endowment about 18 years horizon
<150 per month

this will be purely for saving.. I will put it part of education fund for my kid.. or maybe part of something when its 18 - 20 years later..

some asked a lot of qns.. but basically I m looking at the best payout (guaranteed!)

Hi there,

The people are most likely pming you because they are agents themselves and would like to meet you privately.

I am also an agent, presently with AIA, I will have a look at what I can offer you for the price you've set down.

However, the reason for the pm is most likely because we would need other factors like your age and current status to determine the premium.

For a pure savings with that specific horizon, there will always be a minor element of protection involved. The reason for this is to ensure that you do get a payout even if something unfortunate should occur during the policy term.

Unlike an FD, we would not want to lock up your money.

 

[chopra]

The under-mentioned is the same old naggy message that i have been posting for years, based on the clueless people whom had asked/post such questions/remarks before. Kindly spend a few minutes reading it. No need thank me.

First, you need to understand what's insurance and what's not insurance.

1. term plan, travel insurance, accidental insurance, medishield / integrated shield plan = insurance

2. life/endowment/savings plan/kids education = insurance plus fixed return investment in bonds etc

3. ilp = insurance plus variable investment in a mixed of bonds and stocks.

Next, the problem...

Only silly-people-who-feel-too-rich buy plans bundled with investment. Hefty commission in terms of paying the insurance agent, other insurance company overheads, HUGE bid-sell spread should you switch fund or surrender policies. If you do not understand all the terminologies of what i have written in this para, then you should see why this is a PROBLEM; signing contracts blindly.

Again, ILP, life, endowment, kids education plan, savings plan are essentially the same thing, with different weightage in bonds and equity. These silly ppl pass money to insurance company to invest -- what you should do is to skip these intermediary channels and DIY.

Remember, there is no free lunch in this world. If you think insurance agent is god-sent to help financially not so savvy people, you are wrong. These silly people will only realise the meagre profit (sometimes huge loss) after 5 to 10yrs of silly committment to the insurance company. They will then start asking their agents for the BENEFITS ILLUSTRATION only to realise what they r trapped. These silly people will either remain disillusional or wake up and start reading up on investment. So why repeat the path that these ppl have had taken? Spend 15min a day to read the money mind subforum in hwz and you will be enlightened in a year. Get off your lazy bum and be hardworking now!

Also, some agents will ask you to pm and discuss because they dont want you to know the truth. Again, be cautious, be skeptical. Your loss is their gain. The conflict of interest is and will always be there.

Buy term insurance and integrated shield plan and maybe accidental plan, and invest the rest. There's no financially not savvy ppl, only lazy people.

Good luck.