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Some Eastern European countries had investment products offered by insurance companies, where you sign up for investing a fixed amount monthly for 10-15y with h
by hrpnk 7y ago
Some Eastern European countries had investment products offered by insurance companies, where you sign up for investing a fixed amount monthly for 10-15y with huge exit fees if cancelled prematurely. The high fees are meant to cover for the commissions for the sales people of those products.
I can imagine that other countries also have similar products where it's difficult to pause the regular investments unless invested manually.
- rwmj 7y agoI have one of these (called an endowment policy). It was a spectacularly terrible investment. Luckily the amount I pay in (£10/month) isn't going to make me go broke. Until the beginning of this year it looked as if I might make slightly more than the nominal money I paid in - yes it really was that bad. But with another dose of bad luck it matures this year so it'll likely be worth 30-60% less. Oh well, it was a learning experience.