Every time my money goes when I get into insurance policies. I have lost so much money I hate to do the calculations.

Just invest in plots; if you are not there, things will resolve themselves ..... if you have property, especially one that generates income.

The Government, Banks, Insurance Companies, etc are called "Predators" out to enjoy your hard earned cash ... that is what Kiyosaki says we should guard ourselves against ... wish I knew this years ago.

These salesmen are deadly!!

To me, the only difference is that you keep off the worries with Educatiojn policy as it doesn't involve you much apart from religiously paying the premium as you wait for the maturity of the policy (the insurance doesnt have to pay school fees, you may opt to take the lumps sum cash and put somewhere else). However, the returns may be a little low.

Was looking for opinions on life cover policies and endowment policies and the discussions on this thread have been valuable. Thanks wazuans.

For me it's all about purpose, policies are largely about protection which investments may or may not provide. If I can afford it, I'd do both. I'd like to be an african who plans better

more inputs/opinions are welcome

i have been working in the insurance industry for sometime, i will advise the following key pointers.
1. deal with a professional agent, most agents are employed on a temporary basis and will care less on your well being,will mis-sell the product as their main aim is short term, commission vs client retention.
2. shop around for the best deal, why take an education policy giving projections as little as 6% or 8% on a ten year deal when there are unit trust linked products that can give over 12% compound interest or above for the same.
3. read the fine print, terms and conditions. most agents will not tell you this as the main objective is their sale. i.e paid up value,where you will lose money if you default during this period.
4. disclosure, brings me back to the agent. According to new AKI regulations, the agent will if asked, disclose to you what percentage of commission he will earn from the sale. there are companies which give their agents 40% of your premium for the first 2 years, this is atrocious!
5. when taking life insurance, treat is as protection,not investment. securing your assets and family incase of death or disabilty, the sum assured is not yours,it will go to your beneficiaries. life insurance is cheap and mandatory i.e for a 42 yr old man the premium comes to roughly ksh. 2000 per month!if you have actualised and have a futuristic plan, you can treat is as inheritance for your kids.
6. for an education policy,look for the most key benefit. the premium waiver. this binds the insurance company to continue paying premiums on your behalf to the maximum term period, incase of death or dis ability occurs to you, in other words, you have guarateed your child an education! this is invaluable, you might have the know how to invest money elsewhere for your child's future for much more impressive returns, but what will happen to your child if you were to God-forbid, die or be permanently disabled? profit vs security? thats where you make your choice.
7. always try to deal with the reputable companies,the so called 'big fish'. they may be high end or expensive but, we all know cheap is expensive. companies where you can pay conviniently,get statements online, access statements anytime you want to, access your agent incase of need, get advise on opportunity from your agent or company and most importantly pay as per agreement on maturity.
8. lastly,insurance is supposed to let you sleep easy,knowing your assets are safe,kids future is safe and lastly your family's livelyhood is guaranteed whether your there or not.
anymore queries i will give free advise, nychmwus@gmail.com

mmarto drop me an email.