AMBANK guarantee return life insurance, is it good?

Question

ZJust asking, my friend approach me telling me to buy the AMBANK life insurance with guarantee interest that will be give after the period I choose, like 20 or 15 years.
Said that I will become millionaire if I live past 85.

Can it be trusted. My friend said can as guarantee is written in the contract. Got many friends that said better buy endowment plan.

Answer 1

Let me answer this in several ways;

The worst places to "invest" with are;
Insurance Companies
Banks

You can do much better elsewhere. Do some reading. Listening to friends or strangers on Yahoo Answers will not be the way to secure your future.

READ READ READ

Good place to invest include;
Schwab
Fidelity
Edward Jones (fee based)
T. Rowe Price
Vanguard

But before you do anything. Understand investing and "asset allocation". This does not mean become an expert. It does mean to learn enough so that you're at ease the concept of investing.

Answer 2

Im a liscensed insurance producer, and basically the best bet with insurance is to get the lowest quality term life insurance, and invest the money you will save had you bought the other policy. They make the whole "millionaire" sound really good, but in reality if you invest the money in mutual funds over that long of a period of time, you will accumulate much more money than that

Answer 3

before you get any insurance policy ,think about your health care in the future ,may that be helpful,many of them trouble on medical fees ,not retire fund ,
If you like more detail email
[e-mail]