Investment-linked plan is different from savings plan (endowment).

For an investment-linked plan, you can customize your own investment portfolio according to your risk appetite. You may switch between different types of funds with different risk level to optimize your investment return from time to time, just like a unit trust do. At AIA, currently there's no charge for the switching process no matter how many times you do switching on each policy year. However, cash value for this type of policy is projected and is not guaranteed. The actual cash value is depends on your investment return from time to time so may be vary than the figure shown to you in the quotation, especially when you choose to have a high risk investment.

For endowment plan, you are participating in company's investment so normally the return shall fall within the range shown to you in the quotation.

Does endowment plans generate higher return than FD? Do remember the endowment plans in the market is not the same with FD, there's insurance element that comes with the plan and there's no free lunch in this world. So when you consider endowment plan as a savings plan with free insurance, then the return may be lower than FD.

Does investment-linked suitable to be savings or investment? It depends on your risk appetize and your desired target of return. There no right or wrong answer I think.

Its a new endowment plan from Great Eastern, if you want to get a savings/retirement plan but you have less budget for savings then you can think of getting this plan.