How should I read the numbers on my Investment-Linked Policy (ILP)?

I lost more than 2 months worth of salary to learn this important lesson: when insurance and investments are bundled together into a single product, the consumer is often left worse off.

A few years ago, when I was a naive fresh graduate in my first job, I met a friend of mine to understand more about financial planning and insurance. My knowledge then was limited – I knew I needed to invest and buy insurance, but I didn’t know what was essential to get. Furthermore, at that time all I wanted to focus on was to put in my best effort at work so that I could get promoted and climb the corporate ladder.

Insurance was the last thing on my mind. So I went with my friend’s advice, thinking that as a financial advisor, they’ll probably know …