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Anonymous

17 Sep 2020

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Bought insurance endowment plan premium $9k/ year paid for 5 years. Should I use it for housing? Any other ways to invest it and grow the funds?

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Deedee

17 Sep 2020

Hi Anon, you might want to answer the following questions for the community to provide better suggestions :
1. How long is your premium term?
2. When are you getting your house?
3. Are you surrendering your endowment plan to pay for the house or is it due to mature just before your house is ready?

What's your risk appetite for investment?
How long is your investment time frame?
How much do you know about investment?

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Should I opt for a life insurance plan with $20k better coverage but premiums to be paid in 15 years or a plan whereby premiums can be paid off in 25 years?

I am 45. OA is $110k, SA is $190k & MA is $61k. Has $15k invested in STI ETF thru SRS early this year. My flat is fully paid up using OA. Gross salary is $9k. Haven't done any retirement planning.

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