Relating my post on 29 May 2018, I almost made the same mistake in January 2017. The advisor from the investment company strongly enticed me to sign for Investment-Linked Policy in 2007. The insured amount is $2 million in the event of death and disability.
The quoted monthly premium was almost 100% of my drawn salary. I informed the advisor that I was unable to afford the quoted premium. The advisor suggested to me that I should deduct the monthly allowance which was given to the family to pay for the premium. She reiterated to me the importance of such Investment-Linked Product and informed me the consequence if the unexpected event occurred. She also highlighted to me that my family does not need my monthly allowance and they would be glad for me to channel the allowance for the premium payment in future. I almost signed for the policy on my concern on the unexpected event. Eventually. I decided against it as I was not comfortable with the premium repayment with the consideration of possibility of losing my full-time employment. Upon hearing this, the advisor started to criticise me of my decision and I will live to regret my decision. I told her that this is my life and I will be responsible for all consequences.
I still kept the quoted Investment-Linked Policy which the advisor provided me. I note that there is a fine print of guranteened and non-guaranteened surrender amount over the quoted years. I note that the surrender amount does not exceed the supposedly paid premium for the guaranteened amount in the event of unexpected event or decision to surrender the plan up till the age of 100. I am glad that I did not sign for such policy.