Hi,

Just thought of sharing with the rest.

My wife gave birth to my 1st child recently and I am already thinking for her future.

As I am not a person discipline enough to save at my own will, I have recently bought a saving plan for her after going through the options available in the market.

What I like about the plan is the short commitment of only 6 years, as compared to those edu/insinvestment plan of 20 years or more.

Though the premium is different, it is the feeling of committed to something for years that turn me off. Offcourse this is not applicable when I signed the marriage cert with my wife. Haha.

I am free to do what I want with the extra money after 6 year, what i deem best at that moment.

here is how the plan look like.

If you put in 10K each year for 6 years (Total saving 60K)
Calculation based on life assured whom is healthy 30 years old.
It is a 30 years plan, but these is what you will get if you decided to surrender the plan early.

This is what you will get. Guaranteed.
At 18 years: Min 88088, Max 115036
At 20 years: Min 94537, Max 127988
At 30 years: Min 132188, Max 216187

Normally you will get something in between.

You have the option of withdrawing your income and cash dividend out at the end of 1st year without surrendering your policy.
This plan is covered by PIDM as well.

Cheers.

It is little difference with
6 years commitment vs 20 years commitment.

6 years one, you pay it more advance, hence premium is about 3x higher than the 20 years premium.

Both lock in period is roughly the same and inflexibility is roughly the same.
You still cannot touch those money even you are starving to death now or no money to buy a packet of foods, despite having millions on saving plan. 

You only get those money and expected pathetic return after maturity.

But what I know, a lot of agent push more harder for 6 years one....