Tips to avoid buying unsuitable investment products

Instead of buying products because of rosy numbers, look at guaranteed yields and worst-case scenarios so that you know what to expect. PHOTO: ISTOCKPHOTO
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Many people do not understand that “an insurance plan that helps you save” is not a higher-interest savings account but a long-term investment product that comes with the usual risks.

Once you have signed up for such investment or endowment plans, you will not be able to withdraw the money that you have put in for at least a decade, if not longer.

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