Nice one.. I would say this is not an investment . It is like a saving+ protection plan. that means if anything bad happen to you during the years on this plan you are covered. You will be waived from paying the yearly primium or saving if it happend during the paying period.
You wont get return as good as ASB (7-8%) or some other capital guranteed plan but it is good to have .
Dont have to put all money in one basket. Go buy Digi share or HEKTAR reits or other reits that consistently give high dividend if you have extra $$.
PM me if you want to know more
ps: make sure vote wisely this coming GE ya

This post has been edited by john.nadarajan: Feb 16 2012, 06:12 PM

No more. Replaced by Income Builder.

just want to know , IF HLA interest have around 8% or above .. (count by IRR ) ... i straight sign contract with u .. PM me HLA Agent

i just got somebody introduces me a while ago, and i call for a introduction for a second time.

the plan ifor the your saving is 6 years.
let say yearly u want to save 20k.
after every year end, it will get 3200 guarantee and 1150 dividend in the account.

if you do not withdraw the money from the guarantee and dividend account, then they will give you an 5.5% to the 4350 for the first year.
second year end come, you still not withdraw the guarantee and dividend money, then you will get (5.5 * 4589.25 (amount with interest from 1st year)) + ( 4350 + (4350 * 5.5))\

for easy explanation what amount left in guarantee and dividend account after every year end, will be give 5.5% interest.

the scheme plan you only need to give 20k for the first 6 years, after each year end you can collect 4350 for 30 years.

the girl give a lomsum amount if i do not withdraw the money from the accoutns, i will get 430k after the 30 years.

The 430K is never a guaranteed amount.

Your calculation is correct except the last part. For fixed annuity in this case, after 30 years you will get back your principal. I presume 72*295.

8% based on IRR, you wait long long lar. NO agent from whichever insurance company dare to PM you

Look, I am a registered agent and I am not here to solicit for business.

Firstly, we agents are from Hong Leong ASSURANCE. Report those who are selling you the products as agent but claims they are from Hong Leong BANK to BNM.


Now, there are a few things I will say which many agents failed to address.

1) This is a traditional insurance policy, be it Cash Builder or Income Builder. You pay your premiums, the company pays you a guaranteed and fixed cash payment at the end of every year from the first year onwards together with insurance coverage. Only that the cash payments and dividends provided are higher than the usual insurance products, comparable to bank savings and deposit rates. Additional Dividends to be declared annually depending on company performance.

2) Break even will only occur on the 6th or 7th year. You will not receive in full if you surrender on the first 6 years. There will be a small reduction. This is NOT an investment plan. It is a long term commitment. Profit will be visible from 7th year onwards and it gets higher as the years pass. This has to be justified as you are receiving insurance protection at the same time. Banks do not provide insurance protection so they cannot charge you but you have to consider inflation at the same time.

3) 5.5% is NOT guaranteed and it is given according to company performance. Track record has been good most of the years. the rate is tentative. the tentative 5.5% is not given on the amount you deposited. It will be given on the ACCUMULATED (Optional. You may opt withdraw and the calculation will differ) cash payments and dividends annually. Thus (example):

year 1: RM3000 - GYI RM500 + Div RM200 = RM700
year 2: RM3000 - GYI RM500 + Div RM200 = RM700 | RM700 + RM700 (year1) = RM1400 (+5.5%) = RM1477
year 3: RM3000 - GYI RM500 + Div RM200 = RM700 | RM700 + RM1477 (accumulated) (+5.5%) = RM2296.74
year 4: RM3000 - GYI RM500 + Div RM200 = RM700 | RM700 + RM2296.74 (accumulated) (+5.5%) = RM3458.30
year 5: RM3000 - GYI RM500 + Div RM200 = RM700 | RM700 + RM3458.30 (accumulated) (+5.5%) = RMX
year 6: RM3000 - GYI RM500 + Div RM200 = RM700 | RM700 + RMX (accumulated) (+5.5%) = RMY
year 7: RM0 - GYI RM500 + Div RM200 = RM700 | RM700 + RMY (accumulated) (+5.5%) = RMZ
year 8: RM0 - GYI RM500 + Div RM200 = RM700 | RM700 + RMZ (accumulated) (+5.5%) = RMQ
This goes on until maturity. You stop depositing on 7th year onwards but the GYI and Div will continue to be given until maturity, surrendered or claims made for accidental TPD, death or TPD (Income Builder).

4) We need this for a long term basis. Look around for different plans. Do your comparisons with due diligence. This is a Bank Negara approved product and protected by PIDM.

5) Why do you need such a commitment - it is CCRIS & creditor proof, yield stable returns over the years with protection, payable to beneficiaries upon unfortunate events like death and TPD, (treat it as) long term savings, FD, EPF, education or retirement fund or anything which will secure you a lump sum in the future whatever the economic situation might be unless there is a revolution, military ruling, war or any occurrences that the monies are not able to be payable.

This is not a bad product nor a con. I believe people are not presented with the proper information and ended up committing into something that is not what they anticipate it to be.

Any questions, please ask.

This post has been edited by AdrianLow: Jun 30 2012, 04:40 AM

---

Added on July 8, 2012, 11:26 pmhelo

---

Added on July 8, 2012, 11:29 pmHelo, if i am want to save n invest for my retirement, do you think HL cash plan better or unit trust better?



This post has been edited by atomicman: Jul 8 2012, 11:29 PM

If you purely wants to go for investment and make more money

Stay out of insurance then!

The not-high payout should be justified since you are being protected at the same time. If you are rather concern on how to build a big wealth then you should get yourself out of this. But if you have some extra cash and have no idea where you want to put it, afraid of risk and at the same time need protection... this may be something good for you.

At least you get some decent returns yet with some protection by using your not-know-where-to-spend money.

People are talking about money inflation in later years which is true, but if you got nowhere to spend you either save it with even low returns + protection, OR just spend all lump sum in order to maximize your value and to left with zero value in your later years.

So you make your own call, after all .. it is your own money.

Good luck mate.

Cheers

thanks for info. since you are a HL insurance agent and expert in financial planning, would you put your money in HL cash plan or unit trust?

I am not an insurance agent and neither I have dumped money in unit trust before.

Unit trust is not entirely safe as well, it goes up as well as down... but there are many funds where some are aggressive and some are not and I think only unit trust experts can enlighten you more on this.

I was only trying to make a point where insurance should first focus on insurance first then investment, hence the word insurance.

Cheers...

Agree with you that this is just another ordinary insurance with saving / endowment plan. I am not saying insurance is bad or good but I believe everyone might needs at least 1. I do things very simple. Saving go to the bank, investment go to unit trust, stock market, property, commotities or more realistic to business. Protection to insurance.
Basic principal is high risk high income, low risk slow returns. There are lots of good products (investment) out there to suit your needs. I heard 1 of it was invest rm300 monthly up to 30 yrs, u can earn up at least RM1 mil. In between the period, you can withdrawn anytime any amount or surender if you want with no panelty. What I wanta say is be wise of your investment as you dont have many 30 yrs to waste.

I do it simple from saving--->ASB/FD---->unit trust--->share/property/comotities. Dont talk about investment if your expenses is break even to your income. Think of investment only if u can save money into your bank account. I am not saying that you must follow what I shared. Just be wise with your own money, no one can take it away from you if you dont allow. Choice is yours!!

This kind of plan benefits the insurance company much more than it does for you. It is much cheaper for them because the payout on your death is only a tiny multiple of your money. They get to dig into your money first. Have you seen the kind of paid for vacations their top agents get? While you are struggling and making the wrong decision of putting most of your savings into this kind of plan, especially for fresh graduates, they are enjoying themselves. Who knows they invest your money by putting it into FD? Hahaha... Me thinks part of your payout comes from new premiums collected from new customers. It is insurance after all. Gotta keep the ball rolling.

Recommendation, invest somewhere else like FD if you are risk averse and buy a normal insurance policy. Cheaper and much more liquid.

This post has been edited by JohnL77: Nov 26 2013, 07:09 PM

"yup my fren also told me before the current saving account just for 50millions, HLB doing this plan really get a good responding i can see my fren doing very well thumbup.gif
u say HLB next plan is call income builder?? izzit the same? do you know when it will release it? rclxub.gif

but i wonder how u know so well with HLB saving plan, even then new plan call Income Bulider you also know? hmm.gif "

Hahaha, all the bullshit they train you to say. Ahh, memories.


Ex-HLA agent.

What people need to understand about these contracts is that let's say, you agree to pay 5,000 for 6 years, that means you agree to pay them RM30,000 of premiums. You can pay that 30,000 in lump sum or yearly, monthly installments, whatever. But if you breach that contract there will be penalties.

They pay their agents and themselves first, they are not going to refund you that money when you cancel.

Looks like your advice fell on deaf ears. Shame.

Sigh.... Local financial literacy is still very shallow. Give money making opportunity to agents.

Xuzen

anyway to "nail" this math as in post QUOTE(xuzen @ Dec 18 2009, 10:59 PM)...that was dug out by JohnL77,
nail it to 1st page of ??? for the benefits of people like me that are "noop" or ignorance or mind focused on company of the pretty agents.

Maybe can contact this moderator - https://forum.lowyat.net/user/cherroy.