facebookDo you recommend getting savings plan? If so, is there any rubric you use to assess which plan is better? - Seedly

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Anonymous

04 Jun 2019

Insurance

Do you recommend getting savings plan? If so, is there any rubric you use to assess which plan is better?

I've been planning to get a savings plan for a while. Have some queries about it and hope you all can help me on it.

Should we get it from Insurers with endowment savings plans or DIY? What are the methods available for a common man in Singapore?

Discussion (4)

What are your thoughts?

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1) do u like locking up your money for a period of time?

2) is the guaranteed returns satisfactory to you?

Loh Tat Tian

03 Jun 2019

Founder at PolicyWoke (We Buy Insurance Policies)

The simplest to a common man is to look for IRR return.

The internal rate of return tells you how effective money has been utilise. The higher and better the IRR, the more efficient money has been used.

The other indicator is how big the nett present value is after deducting the cashflow.

Vincent Tan Wen Bin

31 May 2019

Assistant Vice President at Thinkers Alliance

If we are looking at endowment plans, to make things simple, look at total effective yield. The proj...

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