Old Mutual Investments - do your homework carefully

I was a fool for rushing into a Max Investments 10 year policy with Old Mutual.

In a nutshell: after 3 years my total value is 3% down from total premiums paid. 1) Their fee is 4.29% + services charges. 2) The plan I was recommended is expected to perform as follow: Year 1: 3.8% returns Year 2: 4.8% returns Year 3: 4.8% returns 3) If you take the 4.29% that is due to Old Mutual + the service fees, I made a loss for three years. 4) The financial advisors keep saying... the longer you are in the investment, the bigger your returns. But what they really mean is... the longer that I am in the investment, the bigger their 4.29% returns and I get whatever is left (if any).

I have addressed the matter and minimised my monthly payments to not get penalised for early termination. I would have benefited more by saving with the bank in a tax-free account. If I only knew three years ago, what I know now...

Be careful.