If I buy the Aviva My life savings plan with my husband and 2 kids, can they withdraw the money at any point in time? When will the guaranteed sum expire?

If you are looking at such plans, I am wondering if you are able to hitting your Full Retirement Sum at Age 55 (and you can hit your retirement, and use the excess to pay for your children's education) but higher risk due to political risk (goal post shifting), or if not

Whether a Pepertual Fixed Deposit / or Peptual Short term endowments (of tenure 3 to 5 years) may suit you, because you want to use the money.

Such Plans (which include PruWealth, and what Hariz and Li Xing shared), you will want the terminal bonus (which gives the most interest and showed as the projected value). TYpcially they are meant to be held for 20 years and above.

I wouldn't want to be in the position to buyover your insurance policies because you could not wait until the terminal bonus.

Hi Bellez,

For such policies, it's ideal to only start withdrawing after 20 years. Also what happens is that such policies actually do not have a sum assured, it's a face value, meaning it's whatever cash value is available after factoring the sum of your premiums and bonuses less withdrawals.

Once there is no more cash value available, the policy will lapse. However, as long as there is still a face value on the policy, it will still be compounded till maturity.