Anonymous

17 Sep 2020

∙

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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For endowment plan - Is it more worth to pay $375/month for 10 premium years or $750/ month for 5 premium years then lock the money up for 30 years. Which money grow better in insurance endowment plan?

What are the best short term investment plans (~5 years)? This sum of money is to fund for marriage and/or house! It could be a lump sum and/or monthly investment. Any suggestions?

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.

I’ve invested in a long term investment-insurance plan at $2.4k/year. Based on the performance chart, the 3 months, 6 months, 1 year, 5 years are all negative. Only the 10 years is positive at 4.5%. Is the investment doing well?