An elderly lady went to a bank. The bank officer introduced her to a "retirement policy". It is a 16 year policy issued by a foreign company.
The bank officer told her that she can get out her money at the end of 5 years and enjoy an interest rate of about 5% for the 5 years. The interest is about 1% a year.
The lady invested $100,000 into this policy.
She does not understand how the policy works and the potential risks.
I explain them here.
2 comments:
Manulife???
It's a great blog about finance thanks for sharing the blog to know more about banking..
New Bank Account Opening App
Post a Comment