Jan 14 2011, 10:20 PM
QUOTE(cheekiyaya @ Nov 18 2009, 09:37 AM)
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!
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CORRECTION!!!!
It's RM295 per month (RM3550 per year), pay for 6 years, for a period of 30 years
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..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
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..
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