Read? What is good Financial Planning?
Saving is saving
Insurance is insurance
Investment is investment
Know clearly the difference among them - Saving, insurance, and investment and don't start comparing them one to one like Apple to Apple when obviously they are NOT!
Recently; Uncle8888 has read in FB's comment section that some are advocating topping up children CPF OA as children's university fund and making CPF looked like super saver account with the wonder of compounding interests and multi-purpose.
When our financial goals e.g. our children's university fund or retirement are decades away; don't be so naive thinking that we will always be there to top up CPF account to meet the financial goals.
Financially savvy or prudent ones will first seek to protect against human asset and then save or invest towards financial goals!
Read? The Three Matters On Personal Finance: Saving, Insurance, and Investment!!! (2)