What is being sold to you.
WHAT TO ESTABLISH ABOUT ANY PRODUCT
What it actually does What it costs, including all charges What the risks are Whether you can access your money, and when Who is offering it and whether they are regulated
WHY REGULATION MATTERS
Regulated providers are subject to requirements and recourse exists.
WHAT TO VERIFY
That the provider is licensed to offer what they are offering.
HOW
With the relevant regulator.
WHAT TO ASK
What the charges are, in total What happens if you stop contributing What you receive at the end What the worst outcome is
WHY THAT LAST QUESTION
Sellers describe the best case.
WHAT TO BE CAUTIOUS OF
Products you do not understand Products sold with urgency Products recommended by someone paid to sell them Products combining insurance and investment without clear separation
WHY THAT LAST POINT
Combined products obscure the cost of each part.
WHAT TO ESTABLISH ABOUT SAVINGS AND INVESTMENT PRODUCTS
Whether the return is guaranteed or expected What happens in poor conditions Charges, and whether they are deducted from returns
WHAT TO UNDERSTAND
That higher returns carry higher risk, always.
WHY
Anything offering high return without risk is misrepresented.
WHAT TO ESTABLISH ABOUT INSURANCE
What it actually covers What it excludes What the claim process is What the premium is over the period
WHY EXCLUSIONS
They determine whether it pays when needed.
WHAT TO READ
The exclusions, before anything else.
WHAT TO NEVER DO
Sign documents you have not read Commit under pressure Invest money you cannot afford to lose
WHAT TO DO
Take time, and ask someone independent.
