Should I keep my 20-year PruWealth plan I bought last year? Is it an endowment or ILP?

What are the similar products currently available and how do they compare?

Hi Anon,

I think as mentioned by everyone, since you are already in it, it would be good to keep it. I believe you have been advised on the unique product features of pruwealth, and though the returns are not as immediate as investments; I personally believe that the saving grace is that once you have paid the premiums, you will start seeing significant increase due to the compunding interest.

Also the uniqueness about Pruwealth is that after the 20th year, meaning the 21st year onwards, you can start drawing out the amount from the policy and that can act like a cash reserve for you in the event you need relatively large sums for emergencies or even subsidise education costs for your kid/ kids in future. Also as the policy actually only matures when you are 100 years of age, it means as long as the cash value of the policy hasn't been drawn out completely, whatever available amount will be subjected to the compounding interest of abt 3% annually

I do apologise for your case where the premium term is 20 years, did your agent actually explain to you that you could have done a 10 year premium term instead?