Monday, March 03, 2008

Poll on savings and insurance

1. How do you prefer to invest your savings? (45 replies)

0% - in a bank savings account to earn 0.5% yearly
91% - in a low cost investment fund to earn 5% yearly (estimate), and manage the risk
9% - in a life insurance policy to earn 2.5% yearly, locked in for 20 to 30 years

2. If you set aside $30 a month, which insurance policy do you prefer? (49 replies)

12% - whole life policy to cover $10,000 payable on death, and accumulate some cash value
85% - term insurance policy to cover $150,000 payable on death, but with no cash value
2% - do not buy any life insurance, as death is remote

1 comment:

jiante said...

I think the questions are quite skewed to the obivious.
For example, to make it more neutral, the low cost investment fund earning 5% has the possibility of NOT earning at all.

And the term insurance policy expires after a period of time.

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