Actually saving plan is good.. Don't think saving plan is not good at all.

In a long run, the saving plan return will be definitely better than FD rates. At least give it a 18 years, you can see saving plan starting to get more and more from FD. So short term seekers, this is not the right place for your money.

Yea, some will say invest in shares and stock, UT.. will be better, return higher, can reach 100-200%, I had seen even 1000% return as well in stock market. But mind you, stock market, got winner, also got loser. Lose, can reach a lot, maybe half of your capital gone.

So saving plan is actually a plan to diversify the risk. Instead of keeping putting in money in stock market, keep on losing until in the end when you retire, there is nothing left for you anymore.

Forcing someone to save, and in a good care under a good management, your money will grow in time to come. It is good for those who do not know how to manage their own finances, and always like spending spree. For investor, this could be a long term hedging against your down side period.

Overall, this is just a good financial tools. Yea, the return might be slow, but in the end, it is just so worth it.

If anyone would want to know more about
1. Insurance - Saving plan / Wealth building
2. Unit Trust
3. KLSE Stock Market - Futures / Equity
4. Property Investment - Current Income + Capital appreciation / Property flipping

Can look for me through PM.. I will be willing to share to you on each area

Cheers

This post has been edited by Bonescythe: Aug 16 2011, 06:19 PM

Actually ok la.. If you buy for a infant 0-5 years old, and keep it running until 35 years old, it is leaving a legacy for them in the future. Although you cannot use it, but your next generation can use it.

Why people build so much wealth, earn big buck buy property.. Part of them is to have a legacy for their heirs to come and take over and continue to grow it.

Addition, you also got life insurance. In case touch wood, you really got into something bad, then can have a good lumpsum for your own as well. If don't have accident or anything bad, then can take it as a force saving for the future use.

Just make sure that your point, your motive in putting into a saving plan is not for a short term gain. It is never short term here.

They are preparing to send the child to hospital at minor or major incident. Then claim hospital allowance. Hahaha.

Sorry, don't make me sound like someone who like to abuse something. It is not me, but I am just telling based on my ex-colleague action.

Yea, it is correct.

To be exact, it will be RM276.85 on a monthly basis;
RM 830.55 on a quarterly basis;
RM 1621.55 on a half yearly basis;
RM 3164 on a yearly basis..

Pay in yearly basis, save RM158.20, or around 5%..

Looks like quite expensive.

Maybe you bought it at a slightly higher age..

Just wondering.. Since you put 168 per month?
Is there any possibilities, there is any kind of insurance for RM 168 per year? Really want to know what is the real minimum that one can be insured for.