A total rant!
I need to get this off my chest (again)…been fighting with 3 of the bigger insurance companies re the level of disclosure on their products with respect to fees and more specifically the performance on their portfolios…
Suffice to say it is a futile exercise – it appears that even in this highly regulated environment that they can get away with complete nonsense when it comes to answering questions put to them .
There is such a huge discrepancy between the published returns on their portfolios and the actual returns experienced by investors that one can only deduce that this must be the costs of the products – and it is not a pretty deduction.
Anyone who puts money into any investment product with any insurance company needs their head read! You are being very foolish indeed – there is a better way with lower costs and no contractual obligation and no subsequent penalties for breaking that contract. Invest in unit trusts and/or exchange traded funds – low/no fees, complete transparency and no penalties – EVER!