Mar 1 2016, 10:28 PM
*Continue from: https://forum.lowyat.net/index.php?showtopic=3881191 *
QUOTE(Dividend Magic @ Mar 1 2016, 12:34 AM)
What are you hoping to gain from this?
Insurance is insurance and investments are investments. Never mix the two together.
To be honest, I have no clear vision on what to gain from this as it's a spontaneous casual suggestion from the agent (My friend) but I guess low risk investment with some returns is good enough for meInsurance is insurance and investments are investments. Never mix the two together.
QUOTE(lifebalance @ Mar 1 2016, 09:23 AM)
You need to determine 2 points
1. What's your expected return % that you want out of this RM5000 investment ?
2. How fast do you expect to see this return ?
Since from your detail above, have you even got yourself some basic insurance coverage such as death/disability/critical ilness/personal accident & medical card coverage ?
You need to establish some basic coverage before moving on to investment so that you have some safety net to fall on in unexpected events. It will also secure whatever investment you've made. The purpose of an investment is to shorten the amount of time needed to reach that goal you've set.
1. No idea but I won't be expecting too much1. What's your expected return % that you want out of this RM5000 investment ?
2. How fast do you expect to see this return ?
Since from your detail above, have you even got yourself some basic insurance coverage such as death/disability/critical ilness/personal accident & medical card coverage ?
You need to establish some basic coverage before moving on to investment so that you have some safety net to fall on in unexpected events. It will also secure whatever investment you've made. The purpose of an investment is to shorten the amount of time needed to reach that goal you've set.
2. When it hits maturity? (11 years)
BTW I already have a separate insurance coverage so I'm not sure if having another insurance coverage from this plan is a good idea or not
My main concern is that the lock in period, says if I were to purchase a car in future, assuming my salary remain the same, I wouldn't been able to fork out another few hundred ringgit for the installment
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