Protection plus savings
Is it really that essential for each of us to own at least a policy of the life insurance? Hubby and I did sign up with one many years ago when we came out to work. Although there is a minimum protection, but the amount protected is not as great as it was years back due to the inflation. In fact, the amount that would be paid to us in case of any death or permanent disability cannot even help us to sustain our one year living with the cost of living today. And to our great disappointment, the insurance company even extended our monthly premium payment for another few more years without increasing the amount insured.
Therefore nowadays many prefer to get an endowment. With a better investment return, policy holders also get to enjoy the protection with the coverage from their policy. You might think what if the investment of the company is not making money, and you would love to draw out your investment. With an endowment, you do not have to worry. Unlike the conventional insurance plan, you have an option to do an early redemption if the investment is not performing or sell it to a third party. To know more, best talk to someone who is selling endowment policies.
