A client bought a policy from another insurer sold through a bank. She pays a premium of $50 a month through GIRO. The return is guaranteed to be $10,360 on the maturity date at the end of 15 years.
Is this a good return?
No. The return is 1.85% per annum.
Many people are not well educated. The older folks are being talked into buying a policy that they do not know in details.
My advice. If you are approached to buy a policy through a bank, and you do not know much about it, please ask before you get committed.
Know what you buy.
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