interesting point bro...care to elaborate? tq

20% tax rebate is a truth, however that is depends on individual risk appetite toward higher risk and return investment vehicle. As Roy said, if one could gain higher return, he can totally ignore saving plan or ignore tax rebate.

The below thread is very beneficial to most of people who got question toward saving plan and through the below thread, ones will understand he is suitable or not suitable for saving plan. "Insurance savings plan, would you buy one?, Just a corner of sharing opinions" http://forum.lowyat.net/index.php?showtopic=2509517&hl=

From your previous post, I cans see that you are way over insured (medical, life, annuity, etc etc), paying so much premium until you are in financial trouble. Insurance is for protection and it is never meant for Investment. If you want to invest, only invest with money you can afford to lose. You should never have insurance premium > 10% of your earnings, otherwise you are just enriching the insurance industry with things that might or might not happen.

Using Insurance as a investment fails Investing 101. 

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Added on September 25, 2012, 10:43 am

Learn to calculate before you invest.. lar...don't be fooled by insurance agents...read the brochure

Taking example PRU Double Cash Reward...basic policy

Each Year premium is RM 20,180 x 10 years = 201,800
Yearly Reward = 3000 x 10 + 6000 x 10  = 90,000
Maturity Benefit (Taking PRU 7% gain which is on high expectations) = 222,181

Based on 20 years investment, you invest 201,800 to get  312,181 in 20 years.. your annual CAGR is ... drumroll please... 2.21% per year.

Even if you factor in tax savings of Rm 3K/year (if got).. your CAGR barely rise to 3.11%...

Feel satisfied with your 'earning'? Still want you buy? Please go ahead then....

Lol... even after showing examples why insurance and investment cannot be mixed, you still want to invest in 'insurance' albeit another one. Even after a few insurance agent also tell you the difference between of protection vs investment, also not take notice meh?

Hard to believe... cannot help liao 

Hi all

just to add.

I have a good friend that is doing very well. How well? Let's just say he has his own construction co, bungalow, land here & there, asset
overseas etc etc. Smart biz man.

And so, he ask my opinion about endowment plan. I told him there are better investment out there. And he says he wants it for his children.
Pay limited years & get returns.

There are people who wants such plans. Many are better investors than a lot of fin planners out there but just want something lower risk despite low returns. It is not all about high returns all the time. Nothing against common advice.

Different strokes for different folks.