bagcarousel
New Member
I heard from lots of mum that there are companies that sell insurance for pregnant mum, and it sounds good as a protection. is it good to buy?
Should i buy the pregnancy insurance?
- Thread starter bagcarousel
- Start date
I bought it from Axa. But intend to cancel it after 1 mth. Reason: insurance company find it difficult to sell Investment link policies nowadays cos most make losses. So they tie up with other special benefit like pregnancy complication benefit to attract pple.
To be frank, most pregnancies are smooth, hence buying such insurance is of no use. Usually they will insure u only after u show them ur 20 week scan report. By this time, most abnormalities would have been detected.
To be frank, most pregnancies are smooth, hence buying such insurance is of no use. Usually they will insure u only after u show them ur 20 week scan report. By this time, most abnormalities would have been detected.
sharonchow21
New Member
I know recently there is this PRUfirst gift by Prudential Insurance... Anybody bought this insurance before?
Heard that this policy covers mummies with pregnancy related complications and covers newborn against selected Congenital Illnesses...
But the catch is..this is a investment linked product...and the risk invovled would be getting losses if the funds are not doing well...
Heard that this policy covers mummies with pregnancy related complications and covers newborn against selected Congenital Illnesses...
But the catch is..this is a investment linked product...and the risk invovled would be getting losses if the funds are not doing well...
lawrencetan
New Member
Guys,
Very fortunate that AXA Mums's Advantage plan won an award from ParentsWorld Magazine(Jan-Feb 2012 issues).
Interesting thing is that baby can have a Whole Life Policy which covers against 30 Critical illnesses before he or she is here.
Before this Pre-natal plan comes out, baby can only buy plans when they turn 30days old and above.Now they can be covered as early as they are delivered WITHOUT medical underwriting.
Many parents like it, as a peace of mind..
I'm representing AXA, so you can e-mail me at [email protected] for details..
Cheers.
Lawrence
Financial Planner
[email protected]
Very fortunate that AXA Mums's Advantage plan won an award from ParentsWorld Magazine(Jan-Feb 2012 issues).
Interesting thing is that baby can have a Whole Life Policy which covers against 30 Critical illnesses before he or she is here.
Before this Pre-natal plan comes out, baby can only buy plans when they turn 30days old and above.Now they can be covered as early as they are delivered WITHOUT medical underwriting.
Many parents like it, as a peace of mind..
I'm representing AXA, so you can e-mail me at [email protected] for details..
Cheers.
Lawrence
Financial Planner
[email protected]
Why should we need a whole life policy? I dont think its needed since there is no dependents of the baby. Rather I need something to cover for medical bills/ expenses incurred by baby during my pregnancy, delivery and also after birth of baby? I intend to buy before birth. I know got medishield plans but those can buy after birth only. Any suggestions?
lawrencetan
New Member
Hi Tanny,
Yes you are right, there is no dependents of our baby and we don't need to be the beneficiaries of my baby too. The idea of the Whole Life policy for baby is never on the Life coverage, rather on the Critical illness or some called it Major illness.
Based on your concerns on expenses during delivery, there are plans in the market which cover this. However, there is a waiting period before you can be covered for this portion, usually before you get pregnant. Furthermore, the premium for such plan usually on the high side.
If you are keen to have more information, you can e-mail me at [email protected]
for me to e-mail you or contact you to give you more information. No obligation, no worries.
Cheers.
Lawrence
Yes you are right, there is no dependents of our baby and we don't need to be the beneficiaries of my baby too. The idea of the Whole Life policy for baby is never on the Life coverage, rather on the Critical illness or some called it Major illness.
Based on your concerns on expenses during delivery, there are plans in the market which cover this. However, there is a waiting period before you can be covered for this portion, usually before you get pregnant. Furthermore, the premium for such plan usually on the high side.
If you are keen to have more information, you can e-mail me at [email protected]
for me to e-mail you or contact you to give you more information. No obligation, no worries.
Cheers.
Lawrence
rachelleling
Member
if you are diagnosed to have the pre-existing conditions like high blood pressure or diabetes, they will not let you buy this insurance.
Moreover, I agree with Catherine that investment linked products are not as good if you are not so well versed in it. I personally had bad experience with investment linked products and would rather buy a pure investment plan rather than linked it with an insruance plan. Cos the %age of premium going to the insurance is quite high in an investment link plan so the amt for investment is not as high as we think .
I got the tokio marine whole life insurance for my boy after he was born. You just need to pay i think 20 or 21 yrs of premium and he is covered for life. We got ourselves another pure investment plan which has a higher yield than Investment link plan.
Moreover, I agree with Catherine that investment linked products are not as good if you are not so well versed in it. I personally had bad experience with investment linked products and would rather buy a pure investment plan rather than linked it with an insruance plan. Cos the %age of premium going to the insurance is quite high in an investment link plan so the amt for investment is not as high as we think .
I got the tokio marine whole life insurance for my boy after he was born. You just need to pay i think 20 or 21 yrs of premium and he is covered for life. We got ourselves another pure investment plan which has a higher yield than Investment link plan.
lawrencetan
New Member
All companies will take note of all pre-existing on all plans. Case-by case basis, company may take in high blood pressure and diabetes, with supporting report and memo from doctor. I have cliet under both categories and they are accepted. Very good news for them!!!
Many companies now offer Limited pay whole life plan, which payable in 10,15,20 or 25yrs and covered for life..
FYI, cheers....
Lawrence
([email protected])
Many companies now offer Limited pay whole life plan, which payable in 10,15,20 or 25yrs and covered for life..
FYI, cheers....
Lawrence
([email protected])
Hi, just to share I have a Pru Smart Lady policy, which I added an additional rider for maternity coverage.
Now am planning to get Pru First Gift...there are more pros than cons. I am happy to share more info if anyone is keen. Dun worry I am not an agent, just a layperson who wants to share what I know with other mummies out there
Email: [email protected]
Now am planning to get Pru First Gift...there are more pros than cons. I am happy to share more info if anyone is keen. Dun worry I am not an agent, just a layperson who wants to share what I know with other mummies out there
Email: [email protected]
My case same as Mellyjong, i have Pru Smart Lady policy and also bought Pru First Gift for my twins as friend told me it was better to buy since twin pregnancy might have higher chance of complication.
I was told that after i delivered, the coverage for mummy will goes to bb and it would become investment link policy which my agent said might use as a saving plan for kids future school fees..=P
I was told that after i delivered, the coverage for mummy will goes to bb and it would become investment link policy which my agent said might use as a saving plan for kids future school fees..=P
Hi All,
Just for your info if you are thinking of getting a pregnancy insurance plan from AXA or Prudential.
If you are currently covered under AIA HealthShield Gold Max, you can claim for certain pregnancy complications, and new born baby of congenital issues. You can check your policy documents for the exact details, or check with your advisor. You may not need to spend the additional money on a pregnancy insurance plan, unless the intention is to get guarantee cover for your newborn of death and critical illnesses at birth, under an ILP plan.
Just for your info if you are thinking of getting a pregnancy insurance plan from AXA or Prudential.
If you are currently covered under AIA HealthShield Gold Max, you can claim for certain pregnancy complications, and new born baby of congenital issues. You can check your policy documents for the exact details, or check with your advisor. You may not need to spend the additional money on a pregnancy insurance plan, unless the intention is to get guarantee cover for your newborn of death and critical illnesses at birth, under an ILP plan.
Hi Shiko,
Just to share my two cents worth.
A investment plan can never be a saving plan. This is a misconception. Saving means that you are putting the money aside for the future, and the money will be there when you need it. Investment plan is to put the money into some funds and hope that the fund manager can make more money for you in the future. There are no promises and no guarantee that it will be positive return. The Benefit Illustration is just an illustration. I had seen people losing money on lump sum, or on dollar averaging investment. Some funds are even below their 2007 level till now. Do consider the risk when investing.
If you really intend to save for the future, go for endowment plans that have guarantee value higher than the total premiums at maturity. This will give you the assurance when you need the money.
If you need any assistance regarding endowment plans, or insurance plan, do feel free to PM me.
Just to share my two cents worth.
A investment plan can never be a saving plan. This is a misconception. Saving means that you are putting the money aside for the future, and the money will be there when you need it. Investment plan is to put the money into some funds and hope that the fund manager can make more money for you in the future. There are no promises and no guarantee that it will be positive return. The Benefit Illustration is just an illustration. I had seen people losing money on lump sum, or on dollar averaging investment. Some funds are even below their 2007 level till now. Do consider the risk when investing.
If you really intend to save for the future, go for endowment plans that have guarantee value higher than the total premiums at maturity. This will give you the assurance when you need the money.
If you need any assistance regarding endowment plans, or insurance plan, do feel free to PM me.
Good Morning Folks,
Happened to see this topic popping up in my email so I've decided to share my experience on ILP investment insurance.
Part 1: Recurring Premium ILPs (Pay monthly or annually kind)
I think the common issue people faced with ILP (Invest Linked Insurances) is that even after a long period of 8yrs, they are still losing money.
It is important to read the Benefits Illustration correctly at the point of deciding whether to buy an ILP or not. It shows that in an ideal stable market environment, your investment growth will only out-perform your total premium contribution somewhere in from the 10th to the 15th year of holding this policy. This is under the impression that:
1) You never perform regular top ups
2) The ideal market situtation really happens thru out with an annual growth of 5-9%.
3) You never activated premium holiday.
Why such a long breakeven period is largely due to the setup cost in the initial years, for those of you who bought your ILP policies, you would have been informed by your agent or read in the document given to you that your initial years' premiums will never be fully invested. The full premium investment will only happen on the 4th or 5th year of your policy. 1st yr 15% 2nd yr 50% and so on...
There is also a cost of insurance portion depending on how much you wish to be covered, 50K? 100k? If you choose a high amount, naturally more of your invested units will be sold to pay for that cost. If you have a critical illness accelerator portion in the policy, more units will be deducted. Typically the cost of insuring critical illness is between double to triple of the cost of insuring against death and disability.
ILP is a good and highly affordable hybrid tool to build up wealth and giving protections to the young. If you are in your 30s and wish to use ILP as your wealth building vehicle, I'd suggest that you do these:
1) Go for the bare minimum coverage (minimum allowable death protection value is 5x your annual premium), do not take up any critical illness, accident, whatsoever extras that doesn't require you to pay extra cash premium in it. therefore fully focusing your invested funds on wealth building.
2) Choose some funds that you are comfortable with, if you are really afraid of exposures, choose Singapore focused funds like Singapore Equity Growth and Singapore Sovereign Bonds. You can minimise your risk by emphasizing more on Bonds and lesser on Equities e.g. 40% Equity, 60% Bonds.
3) If your premium size is small, typically lesser than S$500/mth, try not to diversify too much, advisable to take up 1 equity fund and 1 bond fund, period. Because having too much funds means you'll need to pay more for the fund management fee. Policy holders, there's a table in your policy citing the cost per annum for all the available funds, study that.
4) Exercise Dollar Cost Averaging more regularly: Apart from the regular premiums you put in monthly or annually, perform top ups, once or twice a year if you can, minimum top up is S$500/top up. This top up will 100% be utilized to purchase additional units. (I'm not sure if you'll agree with me but I make most top ups during dips of the economies, that's usually when prices are at their lowest therefore I can buy more units with the same amount of money.) Top ups are essential to speed up your breakeven period since the entire top up amount goes fully into investment.
5) Monitor the fund prices regularly, typically once every quarter (not a very hard thing to do right?) since movements in ILP, similarly to Unit Trust are much slower compared to direct stock market trading and most importantly do not make hasty judgements. Monitor this yourself, it is your own responsibility, you cannot fault your agent if he never tells you that your portfolio is losing money, there'll be no case against him or the company.
6) Have faith in the funds you choose, do some background checks, if they are reputable and have been showing constant growth thru a long period of time, you shouldn't worry too much about the ups and downs in the process, most importantly is the end point which is probably in 20yrs for kids tertiary education funds purpose or 30yrs for retirement purpose. If it is a high risk fund that you are getting increasingly uncomfortable with, switch out of it. Else you can readjust your emphasis within the same funds that you subscribed to during uncertain times.
6a) e.g. Initial emphasis: SG Equity 60% SG Bond 40%
6b) e.g. Readjusted emphasis: SG Equity 30% SG Bond 70%
7) Newly Launched Funds: Since there isn't any historical performance chart to see, study the background well, know the geographical emphasis of such funds e.g. 40% in Brazil, 30% in Russia and how's the fund spread like. e.g. 20% Oil, 10% Telco etc. Google on the companies which the fund is invested as well. Choose that fund only after you've fully digested them and felt comfortable.
I'm an investment amateur, not a guru, certainly not an adventure risk taker, that's why I go for ILP type of investment. I know nuts about the forbes 500 list and so on, but I've successfully breakeven my own ILP bought in 2004 early this year using the above discipline with funds still invested in Asia and Singapore inclusive from day 1. Hopefully it will continue to grow further north so that I can happily enjoy the rewards when it's time for me to surrender the entire policy.
Personally I feel that if you are calm, discipline and concerned enough about your own invested money to take matter into your own hands, then ILP or Unit Trust is for you. If you simply can't absorb the data and make investment decisions for yourself, endowment will be your best bet.
For middle age and above, I don't suggest that you use ILP as your own hybrid vehicle between protection and wealth unless you are paying high premiums as in 600/mth and above. This is because ILP's cost of insurance rises with age, if the cost of insurance is higher than your annual premium, the system will sell your investment units to pay for the cost, that means your wealth building will come to a halt and starts its gradual decline. People will tend to experience this at the age of 55 and above for those who are paying very low monthly premiums like 100/mth or 200/mth. Needless to say, smokers' cost of insurance is way higher at old age.
This is a lengthy read, but I hope to share the insights of a recurring premium ILP with all of you and hope you'll make a sound judgement that is right for you in your purchase and to those who already bought, I hope my sharing can help you achieve your breakevens faster as well.
Happened to see this topic popping up in my email so I've decided to share my experience on ILP investment insurance.
Part 1: Recurring Premium ILPs (Pay monthly or annually kind)
I think the common issue people faced with ILP (Invest Linked Insurances) is that even after a long period of 8yrs, they are still losing money.
It is important to read the Benefits Illustration correctly at the point of deciding whether to buy an ILP or not. It shows that in an ideal stable market environment, your investment growth will only out-perform your total premium contribution somewhere in from the 10th to the 15th year of holding this policy. This is under the impression that:
1) You never perform regular top ups
2) The ideal market situtation really happens thru out with an annual growth of 5-9%.
3) You never activated premium holiday.
Why such a long breakeven period is largely due to the setup cost in the initial years, for those of you who bought your ILP policies, you would have been informed by your agent or read in the document given to you that your initial years' premiums will never be fully invested. The full premium investment will only happen on the 4th or 5th year of your policy. 1st yr 15% 2nd yr 50% and so on...
There is also a cost of insurance portion depending on how much you wish to be covered, 50K? 100k? If you choose a high amount, naturally more of your invested units will be sold to pay for that cost. If you have a critical illness accelerator portion in the policy, more units will be deducted. Typically the cost of insuring critical illness is between double to triple of the cost of insuring against death and disability.
ILP is a good and highly affordable hybrid tool to build up wealth and giving protections to the young. If you are in your 30s and wish to use ILP as your wealth building vehicle, I'd suggest that you do these:
1) Go for the bare minimum coverage (minimum allowable death protection value is 5x your annual premium), do not take up any critical illness, accident, whatsoever extras that doesn't require you to pay extra cash premium in it. therefore fully focusing your invested funds on wealth building.
2) Choose some funds that you are comfortable with, if you are really afraid of exposures, choose Singapore focused funds like Singapore Equity Growth and Singapore Sovereign Bonds. You can minimise your risk by emphasizing more on Bonds and lesser on Equities e.g. 40% Equity, 60% Bonds.
3) If your premium size is small, typically lesser than S$500/mth, try not to diversify too much, advisable to take up 1 equity fund and 1 bond fund, period. Because having too much funds means you'll need to pay more for the fund management fee. Policy holders, there's a table in your policy citing the cost per annum for all the available funds, study that.
4) Exercise Dollar Cost Averaging more regularly: Apart from the regular premiums you put in monthly or annually, perform top ups, once or twice a year if you can, minimum top up is S$500/top up. This top up will 100% be utilized to purchase additional units. (I'm not sure if you'll agree with me but I make most top ups during dips of the economies, that's usually when prices are at their lowest therefore I can buy more units with the same amount of money.) Top ups are essential to speed up your breakeven period since the entire top up amount goes fully into investment.
5) Monitor the fund prices regularly, typically once every quarter (not a very hard thing to do right?) since movements in ILP, similarly to Unit Trust are much slower compared to direct stock market trading and most importantly do not make hasty judgements. Monitor this yourself, it is your own responsibility, you cannot fault your agent if he never tells you that your portfolio is losing money, there'll be no case against him or the company.
6) Have faith in the funds you choose, do some background checks, if they are reputable and have been showing constant growth thru a long period of time, you shouldn't worry too much about the ups and downs in the process, most importantly is the end point which is probably in 20yrs for kids tertiary education funds purpose or 30yrs for retirement purpose. If it is a high risk fund that you are getting increasingly uncomfortable with, switch out of it. Else you can readjust your emphasis within the same funds that you subscribed to during uncertain times.
6a) e.g. Initial emphasis: SG Equity 60% SG Bond 40%
6b) e.g. Readjusted emphasis: SG Equity 30% SG Bond 70%
7) Newly Launched Funds: Since there isn't any historical performance chart to see, study the background well, know the geographical emphasis of such funds e.g. 40% in Brazil, 30% in Russia and how's the fund spread like. e.g. 20% Oil, 10% Telco etc. Google on the companies which the fund is invested as well. Choose that fund only after you've fully digested them and felt comfortable.
I'm an investment amateur, not a guru, certainly not an adventure risk taker, that's why I go for ILP type of investment. I know nuts about the forbes 500 list and so on, but I've successfully breakeven my own ILP bought in 2004 early this year using the above discipline with funds still invested in Asia and Singapore inclusive from day 1. Hopefully it will continue to grow further north so that I can happily enjoy the rewards when it's time for me to surrender the entire policy.
Personally I feel that if you are calm, discipline and concerned enough about your own invested money to take matter into your own hands, then ILP or Unit Trust is for you. If you simply can't absorb the data and make investment decisions for yourself, endowment will be your best bet.
For middle age and above, I don't suggest that you use ILP as your own hybrid vehicle between protection and wealth unless you are paying high premiums as in 600/mth and above. This is because ILP's cost of insurance rises with age, if the cost of insurance is higher than your annual premium, the system will sell your investment units to pay for the cost, that means your wealth building will come to a halt and starts its gradual decline. People will tend to experience this at the age of 55 and above for those who are paying very low monthly premiums like 100/mth or 200/mth. Needless to say, smokers' cost of insurance is way higher at old age.
This is a lengthy read, but I hope to share the insights of a recurring premium ILP with all of you and hope you'll make a sound judgement that is right for you in your purchase and to those who already bought, I hope my sharing can help you achieve your breakevens faster as well.
Part 2: Single Premium ILPs (Pays a single lump sum from at the start)
Now this type of ILP usually involves big amount right at the start but pays 1 time only. There're pros and cons to such policy as well.
Pros:
1) No breakeven point: The moment the fund price rises above your purchase price, you are already earning and that could be the next day after you injected the intial funding
2) There are SP ILPs that comes with monthly or yearly dividends feature, something that I uber like, therefore apart from the initial fund, I'm getting regular top ups from my dividend payouts as well, forming a compounding factor. Thereby helping to gain more from both fund price appreciation and dividend payouts. You can choose to receive dividends in cash instead of reinvesting, but what's the point? Do you need that meagre amount now?
3) Can choose to provide insurance cover against your own death, but usually that amount is fixed at a certain percentage e.g. 125% of the invested sum which is unlike Recurring Premium ILP which I've shared above.
4) Unlike Recurring ILP which is a long term investment vehicle, SPILP is ideal vehicle for people who are looking for short to mid term investment period as well e.g. only wish to invest for 2-5yrs.
Cons:
1) If your SPILP doesn't have dividend feature and if you injected the fund only at the start without any topping up, dollar cost averaging will be absent. e.g. You buy 100K units at S$1.5/unit at the start without subsequent top ups, it will forever be at S$1.5/unit without dollar cost averaging, therefore if the fund price constantly fluctuates below S$1.5/unit, you'll forever be losing money.
1a) To further elaborate on the importance of top ups and dollar cost averaging: With top ups, if you constantly buy at low price intervals, your average unit price will be naturally lowered as well thus giving yourself more room for profit when the fund truly performs.
2) Minimum initial lump sum is at least S$5000, subsequently top ups are the same at S$500/top up. Some people may find it hard to cough out 5K in a shot.
3) If you bought 1 with insurance coverage, upon surrendering your policy, all necessary cost will be deducted before returning the net amount to you. e.g. Your avg unit price = S$1.25, you sell at S$1.27, cost of insurance = S$0.05 for every S$1000 insured. You might still be losing money in this case if you didn't sell high enough.
In summary:
Dollar Cost Averaging is essential to mitigate risk in any type of ILPs and to allow more room for growth.
Short and mid term investors can ideally go for SP ILP while long term investors can opt for either RP or SPILP
Both ILPs have the option to go for minimal coverage if your focus is fully on wealth growth. (5x Annual Premium Value for RPILP and 1% of Total Invested Premium for SPILP)
If the slightest risk will make you lose your sleep, go for endowments.
If you totally have no time to manage your investment or lack the discipline to, go for endowments.
If you want a hybrid vehicle for kids and can take some risk, consider RP ILP, if not, endowment.
ILP is a slow growth vehicle due to the risk diversification nature. Therefore you cannot compare its growth with that of a blue chip or other stocks and derivatives which are also a naturally higher risk investment compared to ILP.
Less risk, lesser gains, that's the bottomline.
We all are driven by the need to plan proper for ourselves and our young ones in order not to jeopardize anyone financially if anything is to happen, therefore I can understand that some people may simply take up insurance plans that many others have taken or recommended thinking it's the best for you as well, unaware that the nature of that product may not be suitable for your agenda. Therefore, if you have any further questions about ILP and endowments or the plans you are about to take up, feel free to drop me a note here, a PM, or my email at [email protected]
Hope I didn't miss out anything, time to prepare for my routine jog and fly back before my lil girl wakes up.
Now this type of ILP usually involves big amount right at the start but pays 1 time only. There're pros and cons to such policy as well.
Pros:
1) No breakeven point: The moment the fund price rises above your purchase price, you are already earning and that could be the next day after you injected the intial funding
2) There are SP ILPs that comes with monthly or yearly dividends feature, something that I uber like, therefore apart from the initial fund, I'm getting regular top ups from my dividend payouts as well, forming a compounding factor. Thereby helping to gain more from both fund price appreciation and dividend payouts. You can choose to receive dividends in cash instead of reinvesting, but what's the point? Do you need that meagre amount now?
3) Can choose to provide insurance cover against your own death, but usually that amount is fixed at a certain percentage e.g. 125% of the invested sum which is unlike Recurring Premium ILP which I've shared above.
4) Unlike Recurring ILP which is a long term investment vehicle, SPILP is ideal vehicle for people who are looking for short to mid term investment period as well e.g. only wish to invest for 2-5yrs.
Cons:
1) If your SPILP doesn't have dividend feature and if you injected the fund only at the start without any topping up, dollar cost averaging will be absent. e.g. You buy 100K units at S$1.5/unit at the start without subsequent top ups, it will forever be at S$1.5/unit without dollar cost averaging, therefore if the fund price constantly fluctuates below S$1.5/unit, you'll forever be losing money.
1a) To further elaborate on the importance of top ups and dollar cost averaging: With top ups, if you constantly buy at low price intervals, your average unit price will be naturally lowered as well thus giving yourself more room for profit when the fund truly performs.
2) Minimum initial lump sum is at least S$5000, subsequently top ups are the same at S$500/top up. Some people may find it hard to cough out 5K in a shot.
3) If you bought 1 with insurance coverage, upon surrendering your policy, all necessary cost will be deducted before returning the net amount to you. e.g. Your avg unit price = S$1.25, you sell at S$1.27, cost of insurance = S$0.05 for every S$1000 insured. You might still be losing money in this case if you didn't sell high enough.
In summary:
Dollar Cost Averaging is essential to mitigate risk in any type of ILPs and to allow more room for growth.
Short and mid term investors can ideally go for SP ILP while long term investors can opt for either RP or SPILP
Both ILPs have the option to go for minimal coverage if your focus is fully on wealth growth. (5x Annual Premium Value for RPILP and 1% of Total Invested Premium for SPILP)
If the slightest risk will make you lose your sleep, go for endowments.
If you totally have no time to manage your investment or lack the discipline to, go for endowments.
If you want a hybrid vehicle for kids and can take some risk, consider RP ILP, if not, endowment.
ILP is a slow growth vehicle due to the risk diversification nature. Therefore you cannot compare its growth with that of a blue chip or other stocks and derivatives which are also a naturally higher risk investment compared to ILP.
Less risk, lesser gains, that's the bottomline.
We all are driven by the need to plan proper for ourselves and our young ones in order not to jeopardize anyone financially if anything is to happen, therefore I can understand that some people may simply take up insurance plans that many others have taken or recommended thinking it's the best for you as well, unaware that the nature of that product may not be suitable for your agenda. Therefore, if you have any further questions about ILP and endowments or the plans you are about to take up, feel free to drop me a note here, a PM, or my email at [email protected]
Hope I didn't miss out anything, time to prepare for my routine jog and fly back before my lil girl wakes up.