A young man bought an investment linked policy with a saving of $200 a month. He was mistaken that the premium payable for 42 years was $33,600 when the actual premium was $100,800.
He realised that the policy did not give an attractive return. He sent this message to me:
"I think the figure I received were a bit misleading and I have asked and confirmed to the advisor. I have now terminated the ILP. I have paid S$6400 and will only get back around $3,100. I guess this is a lesson learned for me. Anyway, I hope that you will keep educating people from your blog and site so that the public will be more aware about their financial planning. "
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