I’ve been always confused if Insurance (be it endowments, H&S or life etc) should be under expenses or saving? As one will be paying for at least 20 years before seeing their money back?

I agree with Nicholas.

It depends on the type of insurance that you purchase. If you watch the video, you’ll be able to see that they are varied and different in nature.

Here is how I would classify...

Savings:

• Endowments
• Whole Life (due to the savings component associated to it)
• ILPs (leaning towards investments but I would only focus on the guaranteed portion)

Expenses:

• Term Life
• H&S (hospitalization)

If you look at the above classification, it would be really obvious why for most young working adults who have the discipline to Save and Invest on your own, it would make sense to do the bottom strategy:

Ie Buy H&S and term life, while investing or saving the rest on your own DIY.

It depends on the purpose of the insurance u are talking about. Term insurance, H&S, critical illness and disability usually have no cash value and they are for protection so they should be under your needs expenses. Insurances like endowments or ILP are usually classify as savings/investments.