lol actually i been contact with hla agent on this product also... but i really terkejut why all so negative feedback here...i haven't joined yet...the agent more emphasize on me joining to sell and promote this product than selling me this product...

so i study it...it seems one of the best forced saving inclusive of protection plan(insurance) in the market right now? think about it...they are paying 5.5% dividend guaranteed yearly from 1st year onwards until maturity...and the 5.5% dividend rate is not on HOW MUCH YOU ALREADY SAVE...ITS PAYED ON HOW MUCH IN YOUR CONTRACT YOU PRMOISE TO SAVE IN 6,9, OR 12 YEARS PLAN... they are basically paying you dividend on your future saving value, not current saving value....which investment vehicle right now able to offer those? i would like to invest oso...

futhermore...why the ppl here bising2 the high commission the agents get paid with this plan...its not stated pun in the product disclosure they deduct your saving premium to pay your agent...its not like unit trust where upfront they tell you gonna deduct 4-6.5% of your capital as fees for the agent and stuff...

those agent are working without basic and im sure hong leong bank pay their commission on an insentive scheme based on the total profit margin enjoyed by the bank as a whole...

if you really kiamsap dont want the agent to get those commission, why not you contact them and instead ask to join under them, buy this saving retirement plan under your own name as agent? sure you get those high commission based on your own investment... so u get high dividend return that payed based on future value, insurance protection and u get hugeee discount bcoz u receive commission from ur own investment as well under ur name as agent...


let say i take 12 years contract plan and to save rm10K annual premium...(6% return p.a as example)


6% P.A
INVEST RETURN
1) 10000 7200+ SI DEDUCTION RM240 PER MONTH IN SALARY ACCOUNT OR CREDIT CARD
2) 10000 7200
3) 10000 7200
4) 10000 7200
5) 10000 7200
6) 10000 7200
7) 10000 7200
8) 10000 7200
9) 10000 7200
10) 10000 7200
11) 10000 7200
12) 10000 7200
-----------------------
120000 86400

* I will just banked in the 1st year premium of RM10K...after one year i will receive say 6% dividend based on rm120K future value in contract that i promise to pay....that dividend is RM7200 per annum withdrawable from year 1...then lets say i take the dividend to pay back the 2nd year premium and top up rm2800...which comes up to rm240 salary deduction as saving..... keep paying rm240 per month for the next 12 years...by the 12 year stop paying and you already have fund inside the plan of up to RM120K...

the money you bank in in 12 years= rm10k upfront + rm33600= rm43600 total....after 12 years get return of rm120K....


now you tell me which investment vehicle right now that can beat this plan that i taylor made it myself for retirement plan in 15-20years time???


This post has been edited by max_cavalera: Aug 26 2012, 06:37 PM

the plan u can choose to continue up to 90 yrs of age, the earliest exit is 20, 30 yrs plan or usually upon reaching 50-60 yrs old. you can even cancel early and get back your capital amount based on the total cash surrender value chart. 1st year cancelation you will only get around 60-65% of ur saving back....upon the final term of your saving if you decide to exit early u will get around 90-95% amount saved.

if you take 6 years plan, enjoy cashout yearly dividend and decide to cancel the policy upon finishing the 6 years pay plan sure you can cancel and reeive back your capital. if u seen the cash surrender value chart you will get back around 90-95% of the amount saved. everything is transparent and clearly stated in the policy, why worry?

this policy is even covered by PIDM as such any unforseen circumstance happen in the future your capital will be secured and covered.

furthermore, hong leong assurance company subsidiary of hong leong bank (would you feel more secure with their cashflow?)...

i work in one of the biggest bank in malaysia and my car loan was insured under their subsidiary insurance company...got in an accident few years back and they never have any issue in covering the repair expense, the panel workshop oso very happy to know its covered under that EXXXX subsidiary of bank, very easy to claim. my fren used to have Hong leong insurance policy and was in an accident + get natural critical illness later on in a single year...he explain to me on both circumstances he gets compensated, gets covered without any issue...

for me its the stand alone insurance company without any affiliation with banks that worry me...they will cut corners, short sell you by manipulating agreement in the policy...that is the kind of company you need to be careful of...

they give you 2 option, either u wanna let the dividen+guaranteed return accumulate inside the fund or u can cashout every year....this dont effect wether u wanna draw the saving capital early or upon maturity... of course if you dont withdraw the dividend at all your return after 12 years will allmost double, frm 120k -> 2XXK++ but if u use my method earlier u end up paying lesser to save and still get 120k after the contract payment ends... further detail better u call HLA customer service... pls dont just make assumption on the product before u even get proper consultation, explaination by their representative... i took me few week also to go through their product, policy and disclosure sheet...

sorry bro cant really explain to u in detail im nnot HLA agent here...its practically as i quote earlier...but if u exit early within the stipulated contract u'll lose some of ur capital....u can set saving plan maturity after 20 years or 30 years of which if u manage to honor the contract until then, u will receive additional maturity bonus benefit....but if u take out the yearly dividend(non accumulation option) and u exit early, your total cash surrender value will minus all your past dividend income, so u will receive less compared to cust that choose the accumulation option.

have check endowment plan under etiqa and a few other from different insurance company....all of them still lose to this product....the only plan i check all over for private retirement fund that could beat this saving plan is ASB loan scheme for bumiputera.....take loan 50k frm Maybank and choose to repay for 20 years...monthly instalment come about rm330-340 monthly...if u can pay this until maturity, with the yearly dividend let say 8.5% p.a compounded yearly without taking out the dividend at all....after 18-20 years u will have 200k in your ASB account.....bumi so gawd deym lucky....no need just follow this plan only...aside from this ASB loan retirement scheme nothing else beat this Hong Leong Income builder plan so far....

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Added on September 9, 2012, 11:15 pmthis is a long term saving plan.... u'll only see return after 10 year onwards.... they got facility in the policy u can choose to advance/loan your yearly dividend up to maximum 5 years dividend if you have urgent matter to settle...

ASB loan oso if u check back my quote just now...if u early settlement less than 5-7 years oso rugi....bcoz ASB return 8.5% average yearly....the loan facility interest is blr-1.65%....bank loan is on reducing yearly rate....this type of interest is saving compared to fixed but the negative part is lets say the 1st 5 year u pay ur asb loan from 20 years tenure....most of the portion goes towards the interest....only the 2nd half of your tenure where principle payment portion getting bigger and start kicking in....

thats why u need to set earlier your goal why u plan to take any sort of investment or saving plan....if u need a saving plan that generate high return in short space of time then this plan is wrong for you....prolly stock market or property speculating is for u....

for example if im 30 years old male...already buy my 1st house, already married, decent job...decent car and decent commitment...next thing i would worried is will i have enough saving/asset to retire when im 55-60? i realize epf confim not sufficient lo.... let say i need at least 1 mil for retirement...i predict by 55 prolly my epf only gonna have 300-400k at best...then let say i sold my 1st house for 350k after 25 years...then my asb got 200k upon retirement...then i have this plan to add another 150k-200k....

so this plan would suit my need....

This post has been edited by max_cavalera: Sep 9 2012, 11:15 PM