Oct 4 2007, 08:23 AM
remember guys....u are buying insurance as policy against unexpected events.
only invest if u have extra cash.....coz it is a lifetime commitment until your maturity age,which is 55 years.
those sales agent that show u your probable "high" investment return are only in paper as it still depend how the insurance using your monthly contribute to invest.
if u facing money problem lator ...like after 15 year of contribution and still got 18 year until 55 years old maturity date ,then your investment of cashing-in the policy is not worth your trouble.
this is an actual situation as it just happen to my sis recently...as she have migrated to UK last month.
she have decided to cash in her policy which she have been paying about Rm1k every year and what she got back is only a measly Rm3k only...
Don't force yourself to buy insurance if u really don't have spare cash...
QUOTE(donpapachino @ Oct 4 2007, 08:09 AM)
insurance is not meant as an investment vehicle. but it does protect well against unexpected events (touchwood) disability, death, critical illness etc.
10% of my salary goes to insurance wif AIA. pay until age 55, but got cover for the above unexpected events. if nothing happens, can take out money at age 55 or just leave it there to gain interest. some sort of EPF but wif protection.
This post has been edited by MakNok: Oct 4 2007, 08:24 AM10% of my salary goes to insurance wif AIA. pay until age 55, but got cover for the above unexpected events. if nothing happens, can take out money at age 55 or just leave it there to gain interest. some sort of EPF but wif protection.
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