I see. Plans like HLA cash builder is also available at other companies. It is good to survey before decide. If you want to understand GE one, I dun mind explain

As I know, Prudential and Manulife have similiar kind of plan available too. Not sure the return somehow.

just a piece of advice to those who plan to put your haard earned money into those so called 'saving' policy. Do spend sometime to search around this forum, you should be able to find some negative comments (you don't need positive's as those plans naturally give you a perception that it is GREAT!) about these saving plans in the market... Always ask yourself, does the huge sum of premium paid worth the protection you are getting? Do a future value or effective rate of return calculation on the those 'expected' returns... you might be able to spot something there then... Best of lucks

This post has been edited by numbertwo: Sep 17 2009, 04:25 PM

Almost all having this kind of plan. In terms of return, I believe that all is about the same. Just that some have the guaranteed part higher. But don't forget that the policy is consist of guaranteed + non-guaranteed return. So in the end, you will never know which one perform better.

huh... so many people dun really know what plan there bought at the first
and additional i do think you should refer to HLA to get further guideline
cant keep say that plan din earn money after 20yr
i believe each plan got each advantage that we might be not found it
and nowadays economic crisis so bad this may also influence on the investment link that ur mom too~
cant totally blaming HLA only

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Added on September 19, 2009, 5:49 pmyaya... i told u bravely told u that so far only hla can give the interest pay by cash after the 1yr policy..
who else can offer better than this ??
haha..
if wan to know more detail can try PM..
we together share abt it

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Added on September 19, 2009, 5:52 pmis that to slow.. only get return on yr11
cash getting also after 2yr arr...



This post has been edited by Lena314: Sep 19 2009, 05:52 PM

Just as comparision from my personal experience.

When I buy unit trust, I receive an investment report on market trends every month. I get to meet my financial advisor whom I bought from, and we can casually discuss on what's the best financial route, since they are typically investors themselves. They will advise me on how the invest.

So I'm kept informed all the time about how much and where the investment should be.

When I buy unit trust from an insurance company, I only get a half yearly report on how fund value. I get to see the agebt when premium is due and I can't discuss investment from the agent cos they probably did not invest themselves. But I get a birthday card every year from my agent.

Which sounds more financially wise?

In the case of my mum, I think she only got a yearly report which doesn't even tell how much fund is left. There is a Compound Revisionary Bonus which is misleading because there is an undisclosed sum deducted from it as expense. In my mum case, the yearly CBR report shows the sum closing to 60K, which is why no alarm was raised. My unit trust, I know what is the charges.

very well explained . . . but dont blame the agents out there
being a fulltimer is not easy

saving money in insurance is not so much about the return. i dun think is slow. As return is not the major concern. When you save money is to instill the habit of saving and save money for future usage. It also serves as future cash flow and control your expenses.

ILP is not meant for growth, its cheap with high protection value when you are young (prime time). If you invest correctly, you can reduce premium when you are older with the same amount of protection. Or when you can't pay for a period of time, the fund can pay for you to avoid policy lapse. This is the plus point about ILP.

Buy term and invest the difference is not working for Malaysian. It is because term life in Malaysia is expensive compared to ILP for the same ammount of protection as pointed out by chew_ronnie. Just put all your money in money market fund, then you will not experience market high and low.

Insurance is based on save first pay later concept, you are guaranteed a lump sum when the conditions met.

Insurance is a GAMBLE between you and the insurance company, if anything happens to you, you win, that is the only time you can make profit from buying insurance! (of course no one wants to win this gamble).

The main point is, insurance (medical, life, accident) with ILP is not meant for growth or savings, the money is meant to be burnt in exchange for protection.

http://www.meshio.com/2006/06/investment-l...ges-final-part/

There are a lot of investment tools e.g: unit trust, property, share, currency, gold, business... You may have a lot of others investment too. Diversify your investment, diversify your risk.

The fastest investment tool is share. Now buy later sold.
Remember must know what you invest and why you invest...

I cannot say HLA Cash Builder has high return, because if compare market share, I can make profit of 10% within a day. But not everytime I make a good time/selection in stock market. High return, high risk.

HLA Cash Builder is a saving plan, it has steasily return and growth which better interest compare FD. No risk.
All the insurance plan require long term for rolling your money to grow steadily.

Why HLA Cash Builder?

- Receive cash payment start from year 1
- Yearly Income is GUARANTEED upon first saving
- Additional interest on accumulated cash payment
- Shortest payment term : 6 times payment (6years) - Shortest Commitment
- Guranteed protection coverage (Total Permanent Disability & Death
- Ideally Saving for : FD, Retirement fund, education fund, financial freedom

Its like you invest a house, installment 6 years only and get yearly return, continues rolling your money until the you think to sell the house or the most 35 years. Then get back your money plus dividend.

Because time is money, if you are able to leverage on it !
Your monthly saving will be lesser to achieve your goal if you start earlier

ANYONE who follow this principle will be able to achieve FINANCIAL INDEPENDENCE

If you are interested to know more about HLA Cash Builder,I am HLA Full Time Agent
you may welcome to call/sms me at 016-2006112 (Billie Tan) or email me at beellion@yahoo.com

Hong Leong Bank sucks, and I bet anything offered by their siblings like HLA would suck as well.

As a rule of the thumb, when it comes to insurance, the more complex a policy is, the more useless it is for you, because the complexities just serves to confuse the customers, and agents will tell what ever bullshit in order to get people to sign.

Lots of examples here if you search, agent promise scheme is awesome can get RM80K after policy ends in 20 years time, after 20 years buyer went to claim but only got RM16K.

If you want insurance then buy insurance, savings cum insurance is bullshit. There is absolutely no pressure on the fund managers to deliver on yearly basis, they can just give themselves fat bonuses even if fund does badly and you will only know about it 20 years later.

That's why there are so many insurance agents, the commission they get is very large, and insurance company will gladly pay it because getting one person will mean a getting a victim that they can milk for 20 or more years.

Glad to find someone who thinks the same way about savings+insurance. This thread is started against HLA bank, and the agent still dares to advertise HLA plans.

just shows that some people cant even be bothered to read the title of the thread they post in

I agree.. like during our young times in school, we just have to pay ten dollar for an insurance.

If the insurance premium is that high, there is no point to buy it.

I will suggest you put may be RM50 a month to buy some protections. Don't waste a few hundreds because you should know there will be no return for an insurance.

Don't know why I recommend Kurnia, you buy over the counter and get discount for that. I believe in walk-in as I don't like to be disturbed.

Another point: The good thing won't come to you at your front, you have to spend some efforts to find it yourself.

I'm buying a house and was considering taking an MLTA instead of the conventional MRTA to insure the housing loan. However I think I need to rethink my decision based on input from this thread.

Basically the MLTA suggested pays back a 'guaranteed amount' upon surrender/maturity of the policy. And based on the simulation the amount is higher than premium paid. However I'm not sure about the tiny terms and conditions as I have not signed the actual contract yet.

Any advise?

Insurance agents will generally extol the virtues of MLTA, mostly because they probably get lots of commission for it. They claim you can get all your money back, and they'll paint a very rosy dividend return, but what you actually get can only be determined 20 or 30 years later, and if you think insurance companies are an ethical bunch where they can work to build your money without any interference for 20/30 years and at the end of it give back all the gain (knowing very well that they need to only give you that guaranteed minimum amount) then it's obvious all the noise out there created by insurance agents grandiosing their products has clouded your views from the victims of these schemes pouring their heart out.

Anyway if you sit down and do the maths you'll find out, in the end you'll make far more if you just get the normal insurance, and invest the rest of your money in a conventional savings. (where they can't rip you off as easily, if your funds performing badly you can always take it out and move it into another and this pretty much ensures the fund managers won't be skimping out on paying those dividends).

When talking about insurance and medical card, as a rule of the thumb, the more complex it is, the more it rips you off. The agent will run about it's clauses feeding you bullshit making it sound like paradise on earth.

http://forum.lowyat.net/topic/410824/

Also in investing/savings/insurance... stick to the K.I.S.S principle.

Keep It Simple & Separated.

Xuzen

Kurnia is general insurance, does not cover for natural death or critical illness. U probably talking bout PA insurance and medical only. For medical coverage, it is better to buy as a rider to your life insurance as it will lock in the premium. If buy from general insurance, the premium will be 'age banded' i.e. increase as you age (normally every 5 years)

Psst. Kurnia is very bad claims payer and they basically in the red (liabilities/ claims > premium collected) Ya Cpat. paint a rosy picture of turnaround but it will take years since 80% of their portfolio is in loss making motor insurance.
If you insist on buying from a general insurer, at least choose those thta specialize in PA or medical not those in motor or property & find one that is financially sound

rakyat,

sorry but it's simply not true that you should use health cover as a rider. actually quire the opposite is closer to the truth. also you do not lock in premiums. we have discussed this en length in the respective thread. it's virtually impossible to get a better deal from a profit oriented company if you proceed as suggested simply because the uncertainty has to be accounted for by means of higher premiums that will with certaintainty cover for the uncertain rises in health costs. logic dictates that a year to year adjusted rate will always be able to undercut a 60year commitment rate simply because risk assesment is undertaken and this risk is not born by any self-respecting insurance company. life is life and health is health. one should never combine them unless its absolutely required for completely unrelated reasons (cannot insure anymore without exclusions and/or loading etc..)

Sorry I did not read the discussion. Need some clarification on this matter, u mean that the medical and/or CI rider is subjected to change in premium? I thot it does not change e.g. my life policy has a CI cover althought back then they called it Dreaded Disease & I've been paying the same premium for the past 15 yrs. Or that they will reduce the 'guaranteed return' from your investment portion?

1 major difference is the way underwriter thinks : Life uses a mortality table i.e. an actuary look into his crystal ball and predict the life expectancy or in this case medical inflation and price accordingly. General uses past claims experience & load.