Avoid investment that you do not understand

Dear Sir
My insurance agent has changed line and another agent is in charge of my policies right now. He has been pestering me to stop my endowment policy, to cash out the coupons and to put the monthly premium into a global savings account. At the same time, he encouraged us to leave whatever premiums that I've paid (approx 8 years) in the policy and let the policy run.
1) He claimed the global savings account can generate at least 20% every year
2) he claimed although I am to stop paying the monthly premium, my coverage will be the same and will still continue. I would also be able to draw up some cash at the end of the tenor, ie, 21 years. 
Is he to be trusted? Can I know what is a global savings account and what he claimed in point 2 is true?


REPLY
My advice is to avoid any investment that you do not understand and never to accept promise of high yield (which is not guaranteed). Read my book on financial planning to learn about why you should avoid these types of products (where a large sum is deducted from your savings to pay commission to the agent) and leave you a poor yield. My book also advice you on how you can invest your savings for the long term to get a good yield.