Most welcome and glad you found it helpful!

Gracie

Hi Linda, for ILP, if it's for insurance purposes then it's still fine. But honestly I'm very very Conservative on their "fund performance" so I usually just opt for 60-70% money market funds and 30-40% balanced equity funds.

Doing so, my "potential returns" are less and I might have to commit more upfront (or my insurance won't "last as long" as projected with ultra high equity return funds).

This way, I can be sure that it is purely for the sake of insurance and not so much of investment (it's never guaranteed return anyways...).

Why I opted for ILP - really boils down to the insurance benefits. Most plan with similar coverage via traditional insurance costs the same (or more) for me - and this was after diving down onto the actual Cost of Insurance charges of the sales illustration between the two packages. Different time, company, and offerings will yield different results. So its always good to get different quotes and do the comparison in depth (I use excel to plot all numbers with pessimism returns rate for ILP to calculate sustainability, before COI adjustments / price hike.)

Hope these helps!

Cheers
Gracie

Hello Chong, thanks for sharing your thoughts! I had similar experience as well when friends or insurance agents prompted me to save / invest via insurance savings plan and no matter how I ran the numbers I don't find it worthy (even if comparing like-to-like products such as DIY unit trust via Fundsupermart).

I used to use some Expense Manager on android back then - until I discovered zero based budgeting via YNAB. Its a shame that their monthly fee nowadays are much more expensive than it used to be.

All the best in your financial journey too!

Really love the concept of zero-budgetting, currently i am using an app called " Money Manager", not sure if it is the same like YNAB since i haven't really check that out=)

And all the best for you in achieving financial freedom sooner =)