Learn about premiums, sum assured, exclusions, waiting periods and claim conditions.
Start with the basics
Financial products can differ in purpose, risk, liquidity, costs, taxation and legal terms. Understanding those differences is a useful first step before considering whether a product is relevant to a particular goal.
Key considerations
- Purpose: What financial need or objective does the product address?
- Risk: What circumstances could reduce value, income, liquidity or protection?
- Liquidity: How easily can the position be exited or money accessed?
- Costs: What fees, spreads, premiums, interest or other charges apply?
- Terms: What are the eligibility, tenure, lock-in, withdrawal or exit conditions?
- Documentation: Which official product documents should be read before proceeding?
A practical way to think about it
Instead of starting with a return number, start with the job the money needs to do. Then compare the product's risk, liquidity, costs and time horizon with that purpose.
This article is educational only. It is not a personalized recommendation or a guarantee of returns. Actual product terms, taxation, eligibility and risks should be checked in the relevant official documents.
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