19 Feb 2020
What are some ILPs that I should consider purchasing? Are there other investment opportunities that I can be considering that may not
Even if you do not wish to explore investing on your own, I will not recommend mixing insurance with investments.
Ultimately with investments, you will want flexibility to invest at your own pace based on your financial situation. You should be free to start, stop, increase, decrease, add on or withdraw your investments as you see fit, (disregarding what asset classes you choose, or which holding you place it in). Usually the only one-off fees should be transactional where applicable, and the only recurring fees should be advisory fees in the scenario where you just work with an advisor who helps to manage your portfolio. There should not be any lock in whatsoever when we speak of investments, and neither should you be subjected to any type of surrender penalty, early withdrawal penalties, etc.
Locking yourself into a policy will ultimately make it a long term commitment. Think about this: If you're going to guarantee that you will commit for 20 years, what guarantee are you getting back at the end of the 20 years from the policy? (I don't think there is any)
If you have no intention to explore investing on your own, sit down and talk to an advisor who can help you to set up automation in your portfolio or even manage it for you (advisory service). The heavy lifting will be left to him to manage, while you will just engage him to explain your goals so that he can help craft something that will suit you.
If you've no intentions to invest on your own, there are many other ways you can invest passively, including but not limited to:
These are very fundamentally different products.
Insurance linked plans, just like the name, are in...
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