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"Life Assurance" isn't a phrase commonly used in the United States. It's just called Life Insurance. And, as long as the organization backing it doesn't go un
by ghshephard 11y ago
"Life Assurance" isn't a phrase commonly used in the United States. It's just called Life Insurance. And, as long as the organization backing it doesn't go under (counterparty risk), and you can live with being locked in for a period of time (there are usually pretty significant penalties for early withdrawal) it certainly offers a higher yield than most savings accounts you can get these days.
- spacehome 11y agoThe proper comparison is stock investments, not savings accounts.
- ghshephard 11y agoNot sure how life assurance/insurance works in the United States, but in Singapore, the principal is 100% guaranteed by the SDIC (Singapore Deposit Insurance Corporation) - so, kind of a hybrid between Savings (Guaranteed by Government), and Stock (ROI linked to underlying equities.) The major difference is significant penalties for early withdrawal.