Sunday, July 19, 2015

Is the Vivo Child a good policy to save for the university education?

Dear Mr. Tan

The Income agent keep asking me to take up endowment fund for my kid of 16 month so as to pay for university course for my kid in the future , should  I take it up ? Do you have any advice or book to read on the topic ?


My analysis of this policy is set out in the PDF below. Read it.


Anonymous said...

Why are you so keen to take up an education plan for your kid?
The most important thing is to ask yourself whether you and your spouse are adequately covered. If the bread winners are not adequately covered it is useless to cover the dependents. It doesn't make financial planning sense. It is putting the cart in front of the horse. In fact education planning ranks last in the hierrachy of personal needs.
Don't let the agent cheat you on your emotion. He or she is exploiting your love for your child and is not helping you plan. Don't let this salesman spoil your plan. He or she is not qualified. He or she is trying to make a quick sale of you. He or she sees you as the commission that can be had if they close you. That is all. They are not competent and also have no conscience at all to know whether your financial life in proper order or not. COMMISSION is theirs.
Run as fast as you can and seek an honest and qualified adviser and NOT A SALESMAN MASQUERADED AS FINANCIAL CONSULTANT.

Anonymous said...

Vivochild is a stupid product that locks u up and u get only less than 3% even after 20years. Is it not stupid when u can get higher return in Singapore Saving Bonds and without risk and it is liquid?
Only stupid people would buy. Please ,these salesmen , they are not putting your interest first.. Worse these agents are not qualified financial planner and their company dare to call them this.

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