dont understand wat u say?

From where? HLA?

What's the difference with the previous Cash Builder? https://forum.lowyat.net/index.php?showtopic=1231190

yup. Product is very new and the HLA webpage isn't updated yet as of now.
This is a new scheme to replace the HL Cash Builder (CB). Basically, it let the policy owner the flexibility to choose the amount of GYI he/she wish to receive and when he/she wish to receive. Secondly, the maturity period is longer than CB (CB is only up to 35 years). Basically this is a better plan to hedge against any unwanted events (TPD & early death) compared with CB depending on the riders taken. This plan also allow the policy owner to attach up to 50 riders (medic card, PA rider, CIR, etc) for an even more comprehensive protection. I am still working out a few plan which will yield the best return rate, so no figures will be given out for now.

This scheme is very new and the reason why I opened this thread is to provide a reference on this scheme for the time to come. In future, everyone can refer to this thread for advices, POVs from a different perspective and to discuss about this plan when they have an interest with it.

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An innovative and flexible participating whole life plan up to age 90 with Guaranteed Yearly Income (GYI).

Guaranteed Yearly Income from year 1 up to age 90
payable from end of 1st year onwards up to age 90. GYI can be withdrawn OR deposited with the company to accumulate interest (5.5% as of today) from time to time.

9 or 12 year commitment
Short term premium payment commitment, long term coverage.

[High Death & TPD coverage
100% of Outstanding GYI or *9 times of GYI or *Cash Surrender Value, whichever is highest.

*Additional 300% coverage on accidental TPD
In an event of TPD due to accident, an additional 300% of Guaranteed TPD shall be payable

Guaranteed Maturity Benefit of 9 times of GYI
a maturity benefit of 9 times of GYI payable upon maturity.

Is this endowment plan?
GE had lot of these plans...so whats the big difference HLA offered?

LOL, a saving plan mature only when reach 90 years old? 

I certain not suit to it.
I don't think I can live up to 90, even can already blur blur until forget what is insurance plan that I had.

If I really care about insurance, death benefit, I would rather get a whole life term policy to cover death and TPD.

Just my personal preference, as personal view there is no logic to have a saving plan mature only when reach 90.

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Added on December 6, 2011, 10:58 amTS, there is too little info provided for details discussion.
No mentioned about sum assured, and details of it.

Only stated 5.5% on GYI.
How about the principal lump sum?

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Added on December 6, 2011, 11:00 am
This is TPD due to accident only, what about TPD due to sickness/disease?
When getting old, the chance of TPD due to sickness is way way higher than accident.

All the post only mentioned GYI, not touch on principal amount/premium already paid.

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Added on December 6, 2011, 11:03 amI think it is much better to put all the number in a table, just like most saving plan brochure out there.
9x GYI can be confusing, and people do not know how much they are getting.

Basically for this plan, all you got to do is to ask yourself how much do you wish to earn for the next X amount of time, where X is the next 20 years, 30 years or 40 years. From what I know so far, if one wish to get GYI of RM 10,000 for the next 20 years (Income Builder + Income 20), the premium will be around RM 27,000 per year. In addition to the GYI RM 10,000, there will be a cash dividend of RM 2,000 payable very year. Of course, the premium paid will also determined by age and gender factor so it may vary.

LOL, Rm27,000 premium pa.
Assuming 9 year commitment. As stated 9-12 years commitment).

27k x 9 years =243k
20 years 10k = 200k + cash dividend 2k pa = 240k

I better off with put 243K earn 3% FD interest and pay myself 10k per year.

As said we need to compile the table to see the clear picture, if not even we talk so much also useless one without those details. 

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Added on December 7, 2011, 12:58 amDon't just keep on stressing GYI, how much you want every year, it is the premium that matter the most. 

I guess, on top of the 243k that you're taking in as your initial capital the 240k is a return that you'll get, so in total you're getting 243k + 240k after X number of years...

May I clarify what's X?

Those who bought these cash builder / wealth builder plans and other similar 'save 6/8/10 years' plans, thinking its a great savings plan for your retirement, I wish you all the best in your retirement years. Hope you have other backup plans as well.

Do remember to keep in touch with the agent till the day you die because you are gonna to        the agent for CONsulting you into a        so called  forced savings plan.

And as for the agent who sold these plans, after year 7 of the policies sold, do a disappearing act, save your skin. Make damn sure you are no longer reachable by year 11.

For those in the dark, here's a bit more,

Year 1 commission paid to agents who sold you these so called savings plan is a min 17.5% of your premium paid to the cash/wealth builder plans.

Now agent CONsult you to 'save' $500 per month, 17.5% or $87.50 per month goes into agent's pocket, this excludes overriding commission paid to agency managers and what have you expenses of the insurance company. Easily 60-70% of your premium paid is gone for all these expenses. That's $350 per month gone. So you actual start savings with close to ZERO ringgit. And this will go on for 6 years on a reducing basis. (Now you know why the minimum period for such plans is 6 years.)

Ever wonder why agents tell you NEVER TO WITHDRAW within the 1st 6 years? Cuz in your so called savings plan, its EMPTY/KOSONG. Notice that if you surrender with 1-3 years, its ZERO meaning NO MONEY BACK.

Now ask yourself this when the GOVT increases the service tax from 5% to 6% or when your local mamak increase your fav teh tarik from $1 to $1.30, you bising like no tomorrow, the hell with the govt, fxxk this mamak, i never coming back again, but when your agent CONsult you a so called savings plan which quietly eat 60-70% of your so called savings premium, why you never bising?

If these cash / wealth builder are so good, why take 30 years to mature? Why lock your own money and subject it to others placing terms & conditions on your own money? Ever heard of APL and how much it can charge you interest for late premium payments? Nice for some companies to charge you interest on your own money, just nice.

And use your brain for a moment, can an insurance company ever paid interest higher than a bank on the capital sum with a guarantee? If yes, why isn't there a queue at every insurance company with people signing up such cash wealth builder plan? Why do insurance companies still need the agents to CONsult you? Similar to buying iphone 4s, so damn good that people auto queue, you see any agents CONsult the queue?

By the way, why isn't Warren Buffett and Jim Rogers queuing as well for the great savings plan? 

Now look at this from another thread, save 28000 per year, get back 8400 till Year 30.
Ask yourself and use some sense,
1) how much is your salary today? close to $28000 per year?
2) how much is your expenses today? close to $28000 per year?
3) can you live on $8400 per year?

If you cannot afford $28000 premium per year, that's means the you can only lower premiums which directly meaning your GYI is lower as well. Say you can afford $6000 premium per year, your GYI is probably around $1800 per year. Now, in your retirement, can you survive on $1800 per year? What a great reCONmend from your best buddy agent for your retirement.

You only want to meet your INSURANCE agent, SLL or otherwise, for PROTECTION policies and CLAIMS, and not for any other reasons apart from these.
HAHAHAHAHAHA 

LOL, Rm27,000 premium pa.
Assuming 9 year commitment. As stated 9-12 years commitment).

27k x 9 years =243k
20 years 10k = 200k + cash dividend 2k pa = 240k

I better off with put 243K earn 3% FD interest and pay myself 10k per year.

As said we need to compile the table to see the clear picture, if not even we talk so much also useless one without those details. 

I don't like Insurance Investment product as its brings 4% profit (Allianz) only compare to Bond, MM, Equity or Stock.

hmm recently i heard a saving product from Hong Leong(dont know its HLA or HLB), which seems to be targeted to only HLB top clients since I found no information about this product on HLB website.supposed to be offering 19% pa interest,and if financial performance is good additional bonus.however the catch is you have to deposit a lump sum of min $100,000 yearly.

Agents fishing for water fish again.

Till now, many agents are just product pushers, 2 days ago this HLA agent promoted this cash builder to me, she was promoting it like the BESTEST SINCE SLICED BREAD, then she excused herself when i ask her to factor in inflation and how does she expect me to survive on that kacang putih GYI amount and did she herself bought the plan?   
let me repeat my post from the other thread.

oops, sorry for the late reply 
rarely comes in here (F.B.I. House) and was busy since last month is the final month for cash builder.

I am still amidst of exploring and creating the most comprehensive plan so please be patient. That Rm27k premium per year, like you said is plain ridiculous. lol
True enough. Each type of investment plans has their respective pros and cons. These type of plan are most suited for those who is not game for high risk high return type of investment.
TBH, that's not interest. Guaranteed Yearly Income and Cash Dividend cannot be classified as Interest. Interest can only be used by banks for their products but not Insurance related returns. And you can also choose to put RM10,000 yearly, not necessarily minimum 100k per year. Anyway, that plan has already ended now. 
I couldn't comprehend why most people here are so curious and some to the extend of making a ruckus about the agent's commission part. When you people are queuing up for an iPhone, the SA who serviced you also get commission out of your RM2,400 paid. When you're buying a car, lets say a BMW 3 series, the SA also get RM 28,000 out of the price you paid. Even something as basic as buying clothes from your favourite departmental store and the promoter also get some commission out of your purchase. Why you never bising? Just because we have the capability to earn a huge cheque within a short period of time and you want to call us scammers, liars and scoundrels?

From the wall of text you've posted, I do have cases of client wanted to terminate their cash builder after the first year of inception and after some calculations done, their Surrender Value is not ZERO as you have said. APL and interest for late premium payments will only happen if you happen to be commit yourself into the plan. I wouldn't approach and sign someone who need to take huge chunk out of their yearly paycheck to pay for the premium. These type of plans are meant for those with excessive cash reserves in their bank accounts who wish to yield a little more higher returns than the conventional FD.

This is a typical sales thread disguised as a discussion thread. Many of those around here lately...