I don’t own an endowment plan…
But I think it’s a pretty good product for a lot of people…
Ok ok. Before any of you start screaming about what a hypocrite I am…

Let’s think about it…
Many people do not have the discipline to save regularly.
Many people do not have much insurance coverage.
A lot of people do not invest or they get FD returns of around 1%.
I’m talking about the large percentage of Singaporeans here…
Now knowing this… wouldn’t an endowment plan be great for their financial planning purposes?

Let’s say a young person just coming out to work.
25 years old, he could get a low premium endowment plan each month. Maybe $100 per contribution per month and the term of the plan should be until he is 65 years old.
It’s a simple forced savings with insurance coverage as well.
He may not be financially inclined and may not do much investments or may be risk adverse and …