Some of my family members fell into the same traps before (the wealth booster plan by HLB), and they can't withdraw thereafter (hefty penalty). (My parents bought for me and regretted).

I calculated the IRR thereafter and it's somewhat like 4-5%. Even worse than your EPF return and can easily be on par with the current ASNB FP fund returns.

Many insurance agents (at least in Malaysia) like to promote saving insurance (or saving plans) and treat them as FD products, cheating customers' money.

The agents just sweeten the deal by manipulating the numbers as shown by some members above. Look before you leap.

This post has been edited by TOS: Jun 12 2020, 10:20 AM

Just to add on, if you really need the insurance portion and don't want to be locked for such a long period of time, can consider buying a term life insurance plus creating your own portfolio of investment vehicle. That way, you can have the insurance part plus the ability to alter your own risk appetite and have the freedom to choose your investment target.

Have the best of both world.

This post has been edited by TOS: Jun 13 2020, 05:59 PM