Endowment And Insurance Saving Plan

Recently, I have met up with one of my friends for lunch. Over the lunch, he talks about whether do I have financial planning for my future? Well he is not an insurance agent or something like that. I told him that I have just a simple financial planning for myself. I told him about my portfolio whereby 25% of my money goes to stocks and the rest of my money, which is 75% of my money, parked at my OCBC 360 account for the 3.05% interest. 

I was wondering why he asked me this question so in return I asked him back about his financial plan and why he suddenly talked about this topic. He told me that he was told by one of his insurance agent about an investment plus insurance plan where the investment will be invested in secure shares. He didnt told me about what kind of shares that the plan will be invested by I presume that it would be blue chips (Correct me if I am wrong). 

I myself have went to NTUC income to asked more about endowment plan because it is better to diversify my portfolio in this area as well. But when my girlfriend and I went down and hear the agent's explanation, we felt that it is not really that worth it. Okay, not say totally because in the end, you will be able to gain some money out of the 10 or 20 years of "investment". We did see the chart and saw that for more than first half of the investment period, we will be losing money, so in any case whereby we need cash urgently, we will be losing some of our capital. Of course, this is the penalty but would be too harsh if it eats up our capital instead of just forfeiting our interest.

Well, I do not have much understanding about Best Saving Plans yet, but if I am going for one, it will not be for me but will be for my children so that after 20 years, my children will have enough money for his university education without me having to crack my head to pay for it. After that he/she will be on his/her own (after graduation).

So what is your view on these two plans? Will you be going for it?

[Source: http://jyklmoneyblog.blogspot.in/2015/04/endowment-and-insurance-saving-plan.html]