Is it worth it getting this plan to lock some savings away from investing risks?

Hi, there are a few factors to consider before committing such an endowment plan:

• Depends on what's your goal/purpose in mind
• Duration to put in
• Returns to have at the end
• How much are you able to set aside

If you would like to discuss it in detail, I would love to connect with you!

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Well this depends on what’s your needs, time horizon and purpose of getting this and will this plan fit into your timeline. If saving for the sake of saving and meant for emergency then it might not be a good choice.

I mean it’s always good to get a plan and save but the key consideration will be whether it fit into your timeline because getting a plan is huge commitment as premium are payable every year and any early termination might incur losses

Personally not a big fan of endowment plan (other than retirement) because it’s not very flexible. Yes I agree that ILP has risk but the key is how you manage your risk. All plans has pros and cons so it really depends on what you want or what you prefer. ILP has its bad name but ILP gives you more degree of flexibility in terms of premium holiday, partial withdrawal and protection* in terms of emergency

investment should be long term too and not just short term, as long as you don’t cash out it will be paper loss and not actual loss. So pick funds that are meant for longer term and enjoy Cost Dollar Averaging. Some funds even have dividend payout option where you get dividend or you can choose to reinvest to roll more earnings.

*take note there’s different kind of ILP, ILP that meant for Protection (not meant for wealth accumulation) or Wealth Accumulation (this one usually have free protection comes with it but not very high)

Can take a look read on Great Wealth advantage if you are considering to explore