The article above is not mine. Below is mine to share my story with everyone.
About a decade back, I decided to to buy an ILP from a good friend (still is) of mine. After checking and confirm that there is any annual management fee on the fund and no annual fee, only 1-time purchase fee + spread fee, I decided to purchase it.
Unfortunately due to market situation, the ILP went red upon my purchase. I was in a way locked into it. A few years later, the ILP decided to change its management house and this new house require annual management fee + performance fee. As I was in the red, I have no choice but to hold on to it. Imagine every years, you have to pay 2% regardless, it is no brainier that its a negative game unless the management house strategy are so satki like berkshire hathaway.
Fast forward a few years later, I found a job with a fund management house. I get to understand how they operate and its director even gave me an advice, "Never buy into unit trust". lol
Today, although I still far from financial freedom, I will suggest every individuals to learn how to invest yourself instead of "passing" your money to ILP. Start small because you hv higher chance of losing at the start of your investment marathon...