Hi Veronica, do you have an investment time horizon of how long you can set aside the money for this plan?Anyone knows which company or banks has savings plans that we can terminate anytime without penalty and yet earn a good interest?
Do you need to tied down with manulife for xx years? Is the interest better than banks?err.. for banks could be my savings plan .. You can terminate any amount and yet they will auto cut .. at the amount you wanna save.. but .. interest is super low as compare when you engage with company ..I use this account for emergency .. I save up AND i eventually use it when my vehicle broke down or need maintanence or when I am sick need to visit doctor..when the amount hit like above a certain level .. i ll transfer the money over to other my other saving plans that I took from Manulife . then allow me to top up on top of what I already save.. hope this helps .
actually no thats why do not wish to tie down with a contract time. Cannot take risk too just want to do a savings with no strings attached but at the same time earn some interest.Hi Veronica, do you have an investment time horizon of how long you can set aside the money for this plan?
What kind of risks can you tolerate? Capital loss possible or must be capital protected.
Please be aware there is a risk-return tradeoff you have to make.
Both manulife and aviva offer savings plan. In insurance terms, they are called endowment plans. You basically commit to paying $x per mth/year for y no. of years. After a certain term of say 20 yrs, they pay you back a lump sum. You have to commit to paying regular premiums for these endowment plans so not to sure if they meet yr needs?actually no thats why do not wish to tie down with a contract time. Cannot take risk too just want to do a savings with no strings attached but at the same time earn some interest.
I was told aviva has similiar savings plans and also covers protection but i didnt ask if its wat i want yet.
Hi wepo,Generally if you are looking for long term savings.. manulife will offer far better interest than banks.. it is call Flexiplan from manulife which incoporates , saving , coverage and investment. Worth to research on ... hope this helps