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

This post has been edited by cheekiyaya: Nov 19 2009, 10:01 AM

from what you say, about 23% return. but ur money is locked for 6 yrs,
you need to take into account inflation. imho good for those who keep money in bank, but not suitable who those who able to invest themself.

if u got extra just locked it.. like epf..not bad, 6 yr very fast wat.

This post has been edited by ETEAM TRADING: Nov 18 2009, 10:20 AM

just want to clarify - the 5.5% will onli come in after the sixth year?

Nope. Will come in since year 1 if not mistaken.

The RM700 is after 6 years or at very first year? It 5.5% + that RM 700 every year...it would be one of the best investment in town...Is it capital guaranteed?

It's at the very first year. I think it is capital guaranteed. Perhaps you can approach any Hong Leong Assurance agent and enquire

Yes.. U're right.. I'm HongLeong Assurance agent.. Only 6years saving, everyear have guaranteed cash payment + cash dividend.

For more information.. Welcome PM me.


This post has been edited by keneshiro7: Nov 18 2009, 06:08 PM

Since your are an agent for HLA, please shed some light on this product for better understanding:

1. Is the 5.5% dividen guaranteed from first year?

2. Is the RM700 for every year just a projected figure for an investment of RM250 per month?

3. Can the bounus distribution accumulate into principal to enjoy 5.5% interest?

4. Could I pay lum sum (let say RM250 monthly, RM18000 for 6 years) so I could have
RM700 + RM990 (5.5% dividen) yield yearly?


Tks in advance

This post has been edited by netcrawler: Nov 18 2009, 07:44 PM

kononnya, is every year oso yield the guaranteed interest.

but actually kononnya the guaranteed interest is higher than the actual annual interest rates.

i havent sign up for one but, i feel the package offered is pretty much a good inflation hedger.

but things to consider is: how stable is HL bank. yes indeed. an established bank in malaysia. but during the pass 10years, how many local banks went into merger & acquisitions?? how can we guarantee that HL bank wont go into the same footsteps in the next 10-35years to come?? and what will happen to our invested money IF... IF that day really came into reality??

p/s: cash builders / other type of savings plans offered by many other banks and so on so forth financial institutions / insurance company are ACTUALLY ways to persuade people to deposits money into their banks / institution. its not scam, but basically, the more deposits in a bank, the stronger the instituition & the more revenue they generate. vice-versa

personally, i think HLA cash builder is one of the best inflation hedgers in the market - CURRENTLY. but ther's other factors to consider as well other than jus putting a lumsum of money into a bank awaiting for future yield.
indeed, GUARANTEED annual yields. but GUARANTEE that HL wont fall in the next 10-30years?? a good example: earlier this year - citibank

conclusion: WHY NOT?? its a good package. i would say its better than any FDs in the market or any other GIA (general investment accounts). dun compare with other high risk high return investments (forex, etc)

personal preference applied

This post has been edited by ahnien: Nov 18 2009, 11:44 PM

You guys should NOT forget that the 5.5% interest is calculated based on the sum assured. Let say by the sixth year you would have paid RM30,000 but the sum assured is only RM10,000.

i'm oso HLA agent. hope my answer below is helpful

1. HLA Cash builder got 2 portion which is guaranteed and non-guaranteed.
non-guaranteed is base on the participating fund earn how much every year. Average past 3 years return is 7.42%
guaranteed amount will be given base on the premium you choose.
For guaranteed, you can choose to cash out or accumulate into plan.
if accumulate, example as below:
premium RM4242 yearly, will given guaranteed RM300 for 4 years, then RM700 for the remaining 31 years.
So far is given 5.5%p.a (subject to change) for the guaranteed amount if the guaranteed amount is accumulate into the plan.
The 5.5%p.a (subject to change) will be given out after 1 year base on guaranteed amount you accumulate which same as FD given the 2.5%p.a after 1 year matured.
So far is given 5.5%p.a base on guaranteed amount, it is subject to change. Same as FD, this month given 2.5% p.a, may b next month given 2.0%.pa. So my advise is confirm with the agent b4 you sign for the plan.

2. the guaranteed amount will be given base on the premium you choose.

3. refer to Answer 1.

4. For lum sum, example as below:
yearly premium RM4242, total 6 years RM25452.
[attachmentid=1312031]
B3=B2-D2
B4=B3-D3...
If pay lum sum RM25452 in advance, will given you RM708.53 as a bonus.
You also have the choice to withdraw the advance payment.
example:
If need the advance premium after 2nd year,
you will able to withdraw RM4242x4=16968,
but will take back the bonus pay out early which is RM119.74+RM116.15+RM112.66+RM109.28=RM457.83
your plan will still continue as long as you pay the premium at the 3rd year.

feel free to reply or PM for more detail.

If you want more information, you should PM the user above. He's an agent. If not, you could go to HL website and drop a feedback for an agent (That was what I did.).

But roughly, if I am not mistaken..(forgive me if I have made any mistakes)

Note : Correction to figure : To yield RM700 a year, the investment is RM295 per month. Input for 6 years. Enjoy for 30 years.

1. The dividend is RM700 (based on RM295 savings per month) per year. The dividend is distributed based on the group performance (Hong Leong Group). The 5.5% is just interest to encourage you NOT to withdraw the dividend. If you withdraw the amount (there's a limit), there will be no 5.5% interest for that particular year.

2. As I have mentioned, the RM700 according to group performance....I believe it's just estimated figure. You may earn more, or earn less.

3. 5.5% is on dividend only, I doubt it includes the capital (There is no such good deals on earth )

4. Yes, if I didn't recall wrongly, you could pay in a lump sum. However, please note, the interest is on dividend only!
= RM700 + RM38.50



It's actually issued by Hong Leong Assurance, not Hong Leong Bank. This is because, if it's issued by the bank, they could not offer such high interest rates (government restriction). However, for Hong Leong Assurance, they could not just offer this cash savings scheme (because they are not banks), that's why there's small element of insurance attached together with it. The money will be used for investments I think.

Nonetheless, I cannot deny that the group performance is based on Hong Leong Group as a whole, which includes the Bank. I believe even if there's M&A, customer's interest will be taken into account. The acquirer will not be dumb enough to kill its own reputation (there sure will be protests, because some people paid RM8000 - RM10000 per month). UNLESS, Hong Leong declares bancrupt...that's another issue. I am just worried if it's another dangerous scheme similar to the one that contributes to US financial crisis.

There is risk in every investment you make, it's universal fact. The US crisis is one good example and a lesson for all of us. Unless you are buying ASN or other risk free investments.

My conclusion : Of course, if you are an expert in investment, this scheme is nothing for you. For those who are rich and don't know how to investment, my advise is, invest in properties (depends on your selection) and harvest your investment when time is right. As for those earning average income, you could consider this plan.

As for me, the reason why I didn't invest is because I am just too young to invest

Side note : Actually, I believe bank FD rates will increase, maybe to 4% in the future. The economy is improving. By that time, maybe there are better schemes for me

---

Added on November 19, 2009, 10:05 amHmmm...is a bit different from what I heard.

May I know its a combination of which builder?

Note to others :

There are actually quite a few builders.....Builder 1, builder 2, builder 3...etc. Some agents present to you only Builder 1 (one builder), but other agents may present to you different combinations : Buider 2 + Builder 5 (a combination).

As for my example, it's just Builder 1, if not mistaken.

This post has been edited by cheekiyaya: Nov 19 2009, 10:05 AM

My experience with HLB is they tend to be dishonest. They'll say can can can, then suddenly when everything take up so much time and hard to change, they suddenly say cannot.

HLB has a bullshit culture, I'm sure all the offsprings like HLA got the same culture

May I know what the different u mention?
There is only 1 plan with different combination, just how the agent going to promote or how far understanding of the plan only...
for me, im not from sales background, may b u found my way presenting the plan not interesting...
im from IT background, just know IF and ELSE.
IF u choose this, THEN u will get this, ELSE u will get others, very simple and straight forward.. haha...
My objective is try to let u know what u should know and what u want to know.
There are only 4 builder.
Example I provide above is Builder 1 + Builder 2 .
Different combination of builder will shows different premium and guaranteed amount base on customer choice.

---

Added on November 19, 2009, 11:47 amAgree with u some agent is dishonest, but not ALL.



This post has been edited by hong0228: Nov 19 2009, 11:47 AM

Thank you for the information. I am not from sales background either, but I am from accounting background. lol. So far from what the agent said, Builder 2 + 5 is the best option? I don't know...perhaps you can evaluate and see. All the best to you in ur HLA business ^^

---

Added on November 19, 2009, 4:03 pmI do agree in certain aspects. 1 rotten egg in the basket will affect the whole group's reputation. I mean, it's understandable, isn't? Who doesn't want to earn more anyway. There are so many unethical sellers in this world.

This post has been edited by cheekiyaya: Nov 19 2009, 04:03 PM

well.. the society norm is...

let say ther's a bad reputation for a sales person representing the bank. the bank actually takes the faults
people will talk bout how bad the bank service is... not how bad that particular sales person is..

so front liners representing banks are very imporant reputation & relationships builder.

This post has been edited by ahnien: Nov 19 2009, 06:04 PM

Dividend tat mean not guaranteed la. How come can said 5.5% guaranteed? Is based on our pay yearly premium or sum assured?

OK lets do some maths:

You need to put in RM 295.00/mth for 6 years.

Thereafter you get back RM 700.00/year + 5.5% on the dividend = RM 738.50/p.a for the next 30 years.

Part 1 of the calculation (The accumulation phase)
Mode = Begin, since your payment is paid at the beginning of the period
PMT = -(RM 295.00)
Period, N = 12mths x 6years = 72 periods
Present Value ,PVi = 0 meaning you start accumulation from zero
Interest rate, since you are not getting anything during this accumulation period, you are losing money because inflation is working against you. Therefore, I = (Growth - Inflation)/(1+inflation). I am using the conventional 5% inflation for calculation purpose. Therefore effective I = (0-5)/1.05 = -4.7619% p.a. or divided by twelve = 0.3968% per month.

Using these values I presented above I key in the figures into a financial calculator, your get a Future Value (FVi) = RM 18,433.48

Part 2 of the calculation (The distribution phase)
I will use Begin Mode as well, since I assume you will get your annuity due (payment) at the beginning of the period.
PMT = RM 700.00 + 5.5% = RM 738.50/p.a
Period, N = 30 years
Let the Present Value (PVii) equal to the above calculated FVi i.e. = RM 18,433.48
Let Future Value (FVii) = 0, since after 30 years you will get nothing back.
Now keying these new sets of figure into the financial calculator to calculate the Internal Rate Return or Return on Investment (ROI) for the whole 36 years tenure. (from start of the program until the end of distribution phase)

And....

...

...

IRR or ROI(I) = 1.32% p.a.(annualised)

Taa Daa.....

Are you happy with this ROI?

Even FD is consistently hovering above 2%

Xuzen



This post has been edited by xuzen: Dec 19 2009, 01:40 PM

after 6 yr u get back ROI, yr after all the cash value will more than the capital.... is a nice short term saving

for this i've done calculation, not calculating the inflation rate, the savings by the end of 6 years, is almost exactly like saving monthly 295, with compounding interest rate of 6.43 p.a. and compounded quarterly.

Ahtom82, you mean HLA cash builder or the one i'm talking about?

i'm interest, but still don't understand. i don't want to know any % or yield or some financial boombastic words.

I want to know
1) how much I have to save monthly?
2) how long must I not touch the money?
3) in six years time, how much total is my money plus the total interest ?
4) what is the meaning of this 30 years ? i dun understand

Any one heard of GE GJA3, pay for 10 years and collect annual return from year11th to age 87. Best for baby age 1 as you will be collecting money from 11 to 87 years old.

PM me for more information

Hi,

Our company HongLeong Assurance have launched a 10years saving as well. It's suitable for education, retirement and EPF concept.
Which's HLA "Retirement Builder" , you can see it on newspaper advertisement.


For more information, can PM me.

This post has been edited by keneshiro7: Dec 20 2011, 06:53 PM

Good Calculation by Xuzen.

My personal experience, I've been approached by my fren with this plan and was guaranteed by such 'high' return.
At first another friend of mine was very interested but after I did the calculation similar to xuzen's (minus the inflation) and explained to my fren, he was discouraged. The effective return was less than 2%.
Therefore, you have to differentiate between effective and book return.

FYI, insurance companies paid a lot to the agents and also the ACTUARIST/ACTUATORS. They are well-paid to give a formulation of decieved return so that the general public (which they're not trained to spot the hidden truth) can't detect.

Well, all in all, if you think that you're risk tolerance level is low and you'd like to do some investment with this scheme, the decision is totally up to you because the money is yours.

There are better investments out there that are yielding a better return. It just depends on whether you're ready to take the risk.

Peace.
cheez

i heard the plan will withdraw.. mayb sold out soon

Yes, everyone do not miss this fantastic opportunities. Limited unit ONLY.

no wonder the agents use plenty of bombastic words to confuse ppl like me

Don't look at surface figure, a lot of advertisement is very clever and innovative to choose some figure or situation that favour for them in order to look good and saleable.

Therefore, honest and sincere agents are important.

if whom (mayb u or ur father) hv too much $$ dunno where to put, wan open ac then pm me..
put 50K/yr FREE 1 unit NOKIA N900..

This post has been edited by ETEAM TRADING: Jan 25 2010, 10:26 PM

got a memo from manager,this plan gonna withdraw soon on 10th february..

who wana buy then must be fast..

If it's another one of those insurance schemes, we've already done due diligence on these things -- the money they pay you is the money you pay them if you REALLY calculate it, their best estimate (best case situation) is something like 2%

But i can sure that such policy provide better return than banks in long term.

how can you be sure of that?

If you calculate it properly(I'm from GE so i do not know bout other company's plan). I have a program which can compare between banks and saving plan. Besides, what can you get back from banks? Savings plus interest. Insurance saving plan provide a protection for the life assured. This banks will not be able to do it.

Bleh... I never mix insurance with investment. These are fundamentally two different things. Insurance for protection and investment for capital gains. Mixing investment and insurance you will not get the gains, flexibility and transparency that you need. It is just wrong....

This post has been edited by gark: Feb 1 2010, 10:29 PM

Its not investment my friend. Its a saving plan and its not meant to be investment. Its for child education purposes. You will not want to put your son's education to investment.

That is precisely the thing to do! Imagine you can invest for 18 years before your child needs the fund, your fund will be compounded many times over thus provides better returns than a saving scheme, so you can send your child for quality education for a 'cheaper' cost. I know lots of people who have separate investment account for their children even before they are born. And I do too.

This post has been edited by gark: Feb 2 2010, 12:36 PM

Aren't we just playing with definitions here? a savings account is liquid, this means if I want I can just go to the ATM and take it out. If you tie something up for 18 years, you can't call it "savings"

By the way, i get a different explanation by friend.

Let say u invest rm300 per month, and rm3.6k per year, according to the HLA u will get a bonus around +-rm400 (10%) per year.

the rm3.6k per year will have compounding interest of 4.5-6.5% per year in additional to the bonus of rm400 paid.

while every year if u plan not to taken out your bonus that worth around +-rm400, you ll get additional 5.5% interest (amount not guarantee) on the rm400.



This post has been edited by Alexdino: Feb 4 2010, 10:26 AM

YES, for 1year saving rm3,700+.. Will get rm500 is guaranteed cash payment and rm200 cash dividend bonus(base on company performance).

While Limited unit ONLY , will be close on 9 Feb 2010.

Recently one of my friends promoting HLA Wealth Builder to me. More info on the scheme can be found here --> HLA Wealth Builder

I have been trying to find the relevant topic but cannot find it here. Somehow, I felt skeptical when he assured me that the yield for capital growth can achieve >4.5% per year while non-withdrawal guaranteed income can get around 5.5%. So, I desperately needed some advice by financial guru here on whether this scheme is worth investing compare to other investment scheme such as UT. Feedbacks from buyers are welcomed on why they decided to buy it.

Another question, what's the difference between this scheme and the earlier HLA Cash Builder scheme?

Click here for my comment: http://forum.lowyat.net/topic/1231190

Or click here



Xuzen

Thanks for the info. They closed the cash builder scheme last time. Now are they just repackage and introduce this wealth builder scheme?

As far as I concern, this new payment scheme can last until you 90 years old. Will it worth it if you can live till that long?

my mum bought it for me. it locks for 6 years but only can touch d money thereafter 10years sth litat

so you think it is worth the investment?

wow,good explanation.
but not i quite understand how u calculated .
can teach me ar..more details for it

it is relatively higher return but it requires higher premium as well.

hi xuzen from what I understand the distribution starts even on the first year itself

urrr... if u keep withdrawing from that "savings" account, what will u manage to "save" ?

yaya.. i sign up this plan...not bad...worth to buy la.. if put in fix deposit or amanah saham the interest nt so high... this 1 return is better..no risk...free insurance..y not sign up...

Just my two cent, I have done a simple comparison between "the Builder" and "FD" for ten year with flat rate of 3.0 per annum

I notice the return is slightly similar, " but if any financial difficulty," the builder will hurt my total saving a lot.

I been ask my agent, they said " if we didn't complete the policy year, the money we get will depend on the surrender value T_T "

Advice : " pls buy within your financial ability, and never think about taking it out after 6 to 15 year ... or you will suffer lost

I tell everyone here la.. i am actuarial science student... actually internal rate of return for this product is just 3 % only.. just they use the time period and pay out rate to make us think it is high return..

eventually the best way to accumulate fund is by share.. however is you want to make it safer.. i tell you all .. a mutual fund will be the best way...
insurance saving product will not eventually help you to accumulate fund.. it just another type of FD with protection..

First of All, Identify what is your financial objective, this is going to decide how long you are going to set aside your money and the risk tolerance suitable for your investment.

Furthermore, identify how much is required for your financial objective(Present Value), inflation rate(Urban Area 6% according to Star News Paper) and what is the future value for example 18 years down the road, what is the actual value of your financial objective.

Quote for example:
If you would like fund for your education RM500, 000 for Present value. What is this RM500, 000 is going to be after 18 years?

Tips: Using Microsoft Excel look for FV function for the above calculation.

Or Financial Calculator.

Then only decide what kind of financial product suitable funding for your objective.

Tips: In order to find out insurance saving product ROI, you may use MS Excel IRR function.

Hope the above information would be helpful to you!

This post has been edited by jhan_ong: Jan 15 2011, 07:36 AM

Don't Buy Those Insurance and Get Cheated by Those Bank Rich People

You only make them become richer

Hong Leong is just a tiny local bank and you $ will stuck there while you get desperate for just 10% over

Do Your Own Business or Invest in Hong Kong Shanghai, Standard Charted, etc unless you really no $ and desperate for chicken little hong leong bank

These sort of thing is not capital protected.
That means if after 6 years u take it out u just only break even.

If u want to invest so badly just go buy the shares of the banks which are still cheap.

If u buy insurance u r just making the agent rich.

im just going to say one thing.

the 5.5% or 12% or whatever % they guarantee you return. are u sure it's on your dividend?

most of the time this % returns is on YOUR SUM ASSURED. not the money you put in. go check.

secondly , if HLA is offering such a damn good savings plan, why are they not part of HLB?

You go put your investment in an insurance company whereby the agents already eat 35% of the commission plus acquisition cost, etc. make sense?

you want investment, go buy from a bank / unit trust.

you want protection, go buy from insurance company.

google word insurance. it means protection, cash value, savings, etc is a bonus. you want investments, go buy from a bank.

Well said Phonzy.........

Insurance products are for protection only. They put in a nice name just to fool people to take their plans. They will eat up our money.

For investment, unit trust is the best method. Many unit trust companies have high upfront charges but fundsupermart looks good.

With yield lesser than risk free FD rate of 2.5% compound quarterly if you may, it seems less attractive.

Insurance doesn't guarantee your saving, bank does!

Come on ! No 1 guarantees our cash, were just lending in a nice term !

---

Added on May 3, 2011, 12:34 pmwhat if the agent commission are half of it, do you think ur value is higher?

This post has been edited by jamzz: May 3 2011, 12:34 PM

LOL, very confusing. As i know from the plan , the dividend is under the HLA performance which is scenario A (6.5%), or the scenario B (4.5%) from BNM. And the 5.5% interest is extra for the holder didn't touch any GUARANTEED YEARLY INCOME and DIVIDEND on second year. Example :

G.Y.I = RM25,000 + 5.5% = RM26735 (2rd year.)
Dividend = RM10,000 + 5.5% = RM10550 (2rd year.)
G.Y.I + Dividend = RM37285 in second year.

That only Example, forgive me if any wrong. =)

This post has been edited by myrealstory: May 17 2011, 02:22 PM

I personally thinks that this is a force savings where you can use the money or fund after some certains period for your child education or retirement.

I had been in the stock exchange market but looks like i did not gain much in playing there. Furthermore, the risk is high when the return is high.

For me, why not force myself to save so that in the future when i get old, i do not depends much on my childred to contribute me any income that time when i retired.

I personally thinks it depends on individual preferences...

i was just looking around about the new HLA cash builder. almost the same concept as the ones discussed here but this one is implemented around this year??
just wanted to check with any financial guru here whether this type of scheme is still worth the investment?
link: http://www.hla.com.my/ourproducts/product_...fe_cash_builder

500 - Internal server error.
There is a problem with the resource you are looking for, and it cannot be displayed.

totally agree with you..
it depends on individual, we cannot claim that any saving plan is 'eating' our money

Yes, HLA relaunch the new cash builder recently and is closing on the 30/9/2011.

myghimh: If u ask any agent, they will say worth it. But if you ask me, it will depends on your objectives and needs.

Just hope to clear all the confusions regarding the cash builder plans mentioned earlier in the discussions.. To make it simple.

If you put in 10K each year for 6 years (Total saving 60K)
Calculation based on life assured whom is healthy 30 years old.

In builder 1: This is what you will get. Guaranteed.
At 18 years: Min 88088, Max 115036
At 20 years: Min 94537, Max 127988
At 30 years: Min 132188, Max 216187

In builder 4:
At 18 years: Min 88210, Max 113783
At 20 years: Min 101688, Max 133207
At 30 years: Min 139473, Max 218215

Normally you will get something in between.

Difference between builder 1 and 4 is; in builder 1, u have the option of withdrawing your income and cash dividend out at the end of 1st year without surrendering your policy. Whereas in builder 4, you can only withdraw after 20 years. If you withdraw earlier than that, it means you are surrendering your policy. Therefore the return you get will be lower than builder 1 (as in the comparison above at 18 years).

Builder 2 and 3 is somewhere in between builder 1 & 4.
These plan is covered by PIDM as well.

If you want more infos, I am contactable at 012-2842334

are you sure covered by PIDM?

are you a licensed insurance agent?

Yes for both.

totally agree....
saving is a personal planning and it for your future no one can force you if you dont wan it.
for my oppinion bank cannot run away if u read the term & condition before u do anything sure will ok

---

Added on September 17, 2011, 2:29 ammy fren also doing this saving plan for HLB he say will close end of this month but mayb will not doing it again, because many insurance company complain with bank negara regarding the saving plan provided by HLB but insurance company cannot give the guaranteed % & other
it effect they business very bad.
do you know about it?
and izzit true HLB not doing anymore??


This post has been edited by mwkiller: Sep 17 2011, 02:29 AM

Yes, the cash builder plan will be closed byend of this month. The notice for agents already out.

Not sure about what you heard, but this is what i heard.

Currently Bank Negara is witholding the approval of such plans for all companies. Reason is because some agents with certain company (can't mention name here) lied to the customer and causing a lot of problem. The customer complained with Bank Negara , and thus causing all the delay in new plan introduction.

Hong Leong Assurance next plan is call Income Builder, but do not know much about that plan yet.

Reason why Cash builder was re-inroduced was because the plan's structure was approved by Bank Negara previously, therefore HLA ntroduced it again for the agent to sell while awaiting for the new plan approval from Bank Negara. Anyway, the current cash builder plan is for 50 millions only, where as the cash builder introduced previously was for 300 millions and was fully subscribed.

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
u say HLB next plan is call income builder?? izzit the same? do you know when it will release it?

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

He is licensed insurance agent mah..

you means he doing the HLB saving plan also ?

Tentatively the next plan will be launch next month. But the details is still unknown.
Rumours saying that it may be a 9 years commitment plan, as compared to 6 years for the current cash builder plan.

The rest unsure.
Will keep u update once details of the new plan is out. Cheers.

So do you mean cash builder still will be selling until this end of the month ?

I know the topic is HL, but it is no harm to compare with others. Understand OCBC has something similar with the name like Builder Express?

Which is better?

If BN stopping it why OCBC can continue?

yes OR when the total 50mil have been fully grabbed.

When the value is within a range, we can't say it's Guaranteed. Guaranteed means we already know the exact amount from the beginning. Besides, the value range is only an assumption, it shouldn't be treated as minimum or maximum. Insurance company doesn't promise the return must fall within the range.


PIDM covers your insurance/Takaful benefits, with effective dates from 31 December 2010.

Protected benefits of your life insurance policies/Takaful certificates:
Death/TPD/Critical Illnesses : RM500,000
Surrender/Maturity Value : RM500,000 (Excluding units portion of investment-linked policies)
Accumulated Cash Dividends : RM100,000
Refundable prepaid premium : 100% of amount prepaid

The takaful and insurance benefits with different insurer members are protected separately. The protected benefits under TIPS (The Takaful and Insurance Benefits Protection System) will be aggregated only if they relate to the “same insurer member, same risk event, same life insured or insured property, and same takaful certificate or policy owner”.

For more information regarding PIDM, you can contact PIDM's hotline at 1800-88-1266 or email them at info@pidm.gov.my

I would like to put the money in this saving plan. But before that I need to know which bank offers a better return?

Pukio: Totally agree with what u said. My suggestion is, prepare a list of questions that you want to ask the agent. Some agents are either lazy to explain much to you (they will just ask you to read the policy, or they do not know how to explain, because their lack of knowledge). At the very least, ask them to explain to you the quotation table in the policy. E.g. the total surrender value...scenario A/B...etc...This is actually the most important bit in the whole policy. The rest of the T&C should be more or less the same in all products.

Gavin: What I mean by "guaranteed min and max" is, that's the guaranteed min/max amount you are gonna get if you surrender ur policy at those years i mentioned. Some products only tells you about the projected return after certain years, but you may not know the min you may get if thing don't work out as projected.

GSC: It is good to compare before jumping into a plan. BN did not forbid selling of saving plans. It just that those new products pending approval by BN is being held up. Those with old products, or products already approved by BN prior to that can still be offered to the public.
Rumours that cash builder may be extended till december 2011 or 100Millions, because BN have yet to approve the new plan.

why never go for montly? is it because the charges (0.08% if not mistaken)?? anyway, an agent quoted for me, 10k a year and montly pay 900.12, how they come out with it? cause 10,000/12=833.33. furthermore, if situation turns to the worst, i cannot pay the committed amount lets say after 2 years, what is most likely to happen? no interest or even the capital committed also habis??

pay annual is cheaper its industry norm

Kelvin: It is because the returns quoted in all these saving plan is calculated based on premium paid yearly. If you choose for monthly payment, it will cause you around 5% extra.
Same for if you are able to pay all premium in lump sum, then off course you got discount.
As for surrendering the policy half way, you will need to look at the surrender value at that time. Usually it is in a table attached together in your policy. You will not lose all your capital, but certain percentage, depending the time you surrender your policy. The earlier you surrender, the more you tend to lose.

At least habis 30-40%...

If you cannot pay the committed amount you can choose to delay payment. or you can choose to reduce the savings amount.

Yearly income and dividends will still be received based on the total amount you have paid.

ie, if plan is 10k/year = Total 60k and If you cant pay after 2 years, your 60k plan will reduced to a 20k plan.

You will still receive GUARANTEED income and dividends based on your 20k plan.

Note: You do NOT need to cancel the plan

Anyone isterested to buy or would like to know further can PM me. Thanks.

Have black and white for
"ie, if plan is 10k/year = Total 60k and If you cant pay after 2 years, your 60k plan will reduced to a 20k plan. " ??

I don't think so, that the insurance policy inside got such a clause.

I just know there is a "reduced paid up" option only.

But when opt for this, this participating policy (so called income plan) will be converted into term ( means will not have the payout anymore/no surrender value too) with coverage and specific term.