Most permanent life insurance policies assess a surrender charge for accessing the money in the policy. (brighthousefinancial.com)
This type of investment is suitable for people who don't need to access their money for at least 7 years. (moneysmart.gov.au)
Knowing you can't easily access this money from your bank card might help you to feel more comfortable saying no when family members ask you for money or to buy something for them. (moneysmart.gov.au)