What is the meanings of SB/Basic SV+SB, Basic DB, Rider DB?
For 15 years I need to pay RM100 each month and the returns are as per belows, is it worth it?
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Insurance + investment are bad financial decisions
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Sep 16 2009, 04:39 PM
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My insurance agent is trying push a savings product to me, saying its giving great returns, the duration is for 15 years and above, well I asked him to give me a quote, but what I do not understand is the terms used, before I ask the agent for more clarifications, I would like to get some opinions and comments from you guys..
What is the meanings of SB/Basic SV+SB, Basic DB, Rider DB? For 15 years I need to pay RM100 each month and the returns are as per belows, is it worth it? Attached thumbnail(s) |
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Sep 16 2009, 09:09 PM
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QUOTE(allenultra @ Sep 16 2009, 07:46 PM) Zack Styler, pay for 15 years and at year 20, the amount is slightly double the amount u saved. To me, isn't a good deal. Mind to tell me what plans are that? I saw other plan, pay 6 years will double at year 20 (35 yrs term). Another plan, pay for 10 years and will double at year 20 (till age 88) |
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Sep 16 2009, 09:28 PM
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QUOTE(leecy @ Sep 16 2009, 09:21 PM) pay 10 years plan and get it until age 87 years old. we also have. Great Eastern also has this plan. The plan is saving plan with whole life policy.Pay for 10 years. Get cash return 11 years onwards until age 87 years old. Guarantee income for 11 years onwards until age 87.The plan help you to create the account and save for you. If not mistaken, Zack Styler . The quotation you show is a great eastern plan, great multicash. This is an endowment policy for term of 15 years. S/B is survival benefit. Cash that you will getting every 2 years. Basic SV+SB is basic surrender value and survival benefit.Basic DB is basic death benefit. Rider D/B is rider death benefit. I am attracted to the S/B actually, but regarding the calculations, I really have no idea, mine to explain? This post has been edited by Zack Styler: Sep 16 2009, 09:36 PM |
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Sep 16 2009, 09:55 PM
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QUOTE(leecy @ Sep 16 2009, 09:41 PM) S/B meaning you getting cash on 2nd years onwards . Every 2 years get some sort of cash value/return until it mature Any other plans that offer S/B for a certain years onwards? Added on September 16, 2009, 9:42 pmIf you wish to know more, I dun mind meeting up with you and explain this to you. If you are interested with the 10 years plan and get cash until 11 years onwards, I dun mind share it with you |
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Sep 17 2009, 11:54 AM
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QUOTE(leecy @ Sep 17 2009, 10:50 AM) yup, all insurance companies have this kind of plan. GE GJA has S/B after 10 years payment. Get it from year 11 until age 87. Yeap, I am now looking for plan almost like HLA Cash Builder, but probably better returns..Still surveying.. Agree. Please make sure you protect yourself medically, life, disability,critical illness and PA before start getting a saving plan. Protection is necessary and crucial before start invest/saving to get multiple benefits. |
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