Wow, I posted the calculation in Dec 2009, that was like four years ago. I fail to educate people on the evil of saving plan.... I have failed miserably.

Hung head in great sorrow.

Xuzen

Has anyone subscribed to this scheme or heard of it?

Someone introduced me this plan a while ago.

It's a force savings plan actually. You will need to pay monthly for 6 years only. The savings amount depends on how much you want to save, the agent will work out the rate for you. If you're saving about RM250, you will get yearly dividend (according to company performance) of RM700 (more or less). If you didnt withdraw any amount of dividend (there's a limit), they will add on 5.5% bonus on top of ur dividend. The dividend will be given for 35 years, but you can opt to withdraw after 6 years.

For those who know about it, may i know your opinion? Thanks!  \

CORRECTION!!!!

It's RM295 per month (RM3550 per year), pay for 6 years, for a period of 30 years

Wow, I posted the calculation in Dec 2009, that was like four years ago. I fail to educate people on the evil of saving plan.... I have failed miserably.

Hung head in great sorrow.

Xuzen

Is this scheme still available?

Insurance companies will always have these kind of endowment policies, don't worry. They'll change a bit here and there but ultimately it's the same. The only difference is how much commission the agent gets to motivate them to sell you these "savings plans".

All paid for vacation! Yeah!

"These plan going to end in xx-xx-xxxx." "Because so good all the other company complain." "Bank Negara want to pull it back." "Only have these amount of lots left (dunno what lot also, it is not shares)."

All BS.

The cash builder charge to my credit card. And Recently, i  have changed my Credit card.

I hav contact my agent many times, but she never bother... pls advice how can i charge it to my new credit card ?

Wow, I posted the calculation in Dec 2009, that was like four years ago. I fail to educate people on the evil of saving plan.... I have failed miserably.

Hung head in great sorrow.

Xuzen

Actually how to calculate it? Too late for u to educate me as i already in this program for 2 years cannot turn back.

First study Financial Mathematics for one semester in any good finance course. The cheapest way to learn the fundamentals of financial mathematics is to attend Module 4 of The Certified Financial Planner course offered by FPAM.

Technically you can turn back anytime, it is up to you whether you can stomach the cut-loss or not.

I can, I did and now I have no regrets (Not HLCB, but an AIA similar plan). But it is just me. It may differ with you.

Xuzen

where can i find and attend the module?

i think i cant cancel it. already commit half way. later i cancel i loss a lot.

maybe is a lesson for me. next time i should just buy medical card only.

It's been 14 years now. Thinking about withdrawing everything from HLA cash builder as EPF seems to be able to build cash better. What do u guys think? Seeing that it's already many years now for us to see the performance...

you had it for 14 years,...is the return better than epf?

Apart from the guaranteed yearly payment that is 2.43% of my capital, the current projected surrender value is lesser than my invested capital(paid premium).

So that means, even if the surrender value is the same as your capital, ...you just get back 2.43% per year instead of about average 5-6% if in epf...