[WTA] Which Insurance is better for savings?, Need some opinion before I wanna buy =)
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 Oct 4 2007, 11:55 AM
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#1
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Senior Member
992 posts Joined: Aug 2006 From: Bolehland  
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QUOTE(yewkhuay @ Oct 4 2007, 07:34 AM) How do u justify a company is Leader in certain product ? Saving with insurance company ensures that you are force to save every month for the next 10-20 years. Just like EPF. You have to contribute like it or not if you are under employment. The main objective is that you will get a lump sum of money for your retirement.y do u need saving plan at the 1st plan?  |
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Oct 4 2007, 10:40 PM
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#2
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Senior Member
992 posts Joined: Aug 2006 From: Bolehland
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Long term savings objectives are for retirement purpose.
Insurance savings is always for long term purpose. Since you probably be paying for the next 20 years, therefore, your monthly commitment cannot be high. It is not easy to maintain your saving discipline with FD. You may save a few years but once the saving amount is big, you may be tempted to withdraw it for other purpose. Therefore, your objective is defeated. So, FD is for short term saving. |
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