The Income agent keep asking me to take up endowment fund for my kid of 16 mth so as to pay for university course for my kid in the future , should I take it up ? It is called the VivoChild
Do you have any advice or book to read on the topic ?
Also, I came across POEMS share builder plan for Capitaland. Should I sign up for my kid of 16 mth in order 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 ?
REPLY
You can ask the agent to give you a Benefit Illustration. He is required to do so, if he is selling the policy to you.
It is better for you to attend this talk next Saturday.
http://c-onyx.com/page/2274
You should also buy my book on Financial Planning.
http://c-pearl.com/cart.aspx?ID=19 ($6 only).
It is better to invest than buying an endowment plan. At least invest in a regular using ETFs.. One of the banks offers this plan or see an IFA to help you. Do you know how much you need to have when it is time for your child to go to U? Is your child , male or female? A male goes to U in 21 years time and a female in 18 years. Go to www.Drwealth.com or CPF to find out. If you die die must buy an endowment see IFA like Providend Financial to get a 30% discount or a 50% discount from Fundsupermarket.
ReplyDeleteAlthough all endowment plans are as good as SCAM.... at least get them cheaper. The best is invest regularly in an ETF or ETFs.
For comparison you may login to www.comparefirst.sg
Don't let insurance agents con you.
Vivochild is a rotten product, don't buy. You regret when you find that return is so low and you cannot reach your goal.
ReplyDelete