Is a insurance company a better place to save money than a bank?

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Is a insurance company a better place to save money than a bank?
May 25, 2009 03:57
CHERYL Points: Join Date: May 10, 2007 Status: offline	For most people, a bank is the first choice when thinking of saving money, so am I. However, a lecturer of a insurance company said that a insurance company is a better place to save money than a bank, bacause you could get more interest along with some personal safety. What do you think of his ideas? How do you usually deal with your spare money?

May 25, 2009 12:25	#1
CARLOS Points: Join Date: Sep 10, 2007 Status: Offline	No, incurance companies never give money. If you put your money there, it never comes back. With my spare money? I don´t know. Before my wifes used it but now I really must think what to do with it... Carlos

May 25, 2009 21:29

GUEST81145

They are different financial ways.
If you save money in the insurance company, as the money get into the account of the company, they will deduct all kinds of commission, fees which support the operation of the company. The money often invest into stock market, debenture ect. and also maybe the interested is higher than bank interest if it is bull market.If you want to use this money urgently and want to refund before the contract expire, you will loss percentage of money.

But if you deposit the money into the bank, you only get the interest of the money and pay the tax. But you don't need pay any commission or some kinds of management fees to the bank. And you can draw your money at any time without any losses.

May 28, 2009 19:24	#3
LARRYBOY Points: Join Date: Apr 10, 2009 Status: Offline	If you are a gambler then insurance companies are for you. Once you give them some money you can count backwards 3-2-1 GONE!!! Your returns will be small like guest 81145 says. be careful LB

Jun 16, 2009 21:44	#4
GUESTDOUGLAS...	Hello. I was invited at Cherryshares, investment pool a month ago but didn't invest with them, because my friend Jay told me that there are programs that pay more. Such as cashtanker, geniusfunds stoic-capital. What will be better can you advice? I don't want to get scammed.

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