Endowment

[o0KelviN0o]

Do u buy for your kids?

What's your premium term?
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I buy for both kids & I minimize premium term to 5 years

 

[Arcanell]

yes bought at a premium where i can afford.

pay premium for 5 years but maturity is 20 years?

 

[o0KelviN0o]

yes bought at a premium where i can afford.

pay premium for 5 years but maturity is 20 years?

Ya so I can have more for myself in the later part... kept it short to discipline myself to save up for the kids

 

[o0KelviN0o]

More the number - more the benefit!

Short term does not benefit us more!

Please explain

 

[mSnooze]

Depends on what kind of endowment you are getting.

If you're getting those without cash benefit, will be good to get low limited paying term and let the money accumulate for longer period, end result will give you a higher returns.

E.g. 5 or 10 year paying term, let the money accumulate for another 10/15/20 years.