Avoid a promotion on life insurance

Hi Kin Lian,
I recently just graduated from university and have been approached by a friend to purchase an investment linked policy. I m in dire need of some advise. The policy goes like this:

• approximately about $450 premium each month with a coverage of 300k (100k for 30 critical illness and 200k for death)
• I can draw out the cash when it break-evens, estimated at 9 - 10 years. The promise of interest earned will be at 5 to 9%
• The funds chosen for investment are Singapore equities.
• There is a ongoing promotion that for every 1.8k premium i pay this year, I get $300 "free". 

Do I really need something like this? Or should I go for Life/term insurance? As this is my first time buying insurance, I really do not know what to do.

REPLY
Send the benefit illustration to me.
Read my book Practical Guide on Financial Planning and the FAQs in the website.
Be careful about buying something (especially a life insurance policy ) on a promotion, as it will usually color your judgement.