you 2 still don't understand the issue at hand about this savings plan, its about the returns and the cost to the wallet and how it affects your life when you need the money. Anyway, good luck to you both, one an agent & the other maybe an agent.

This post has been edited by lunchtime: Dec 22 2011, 11:15 PM

only 3 types of ppl, Insurance won't do business. Take you guess lor

oh come on, the thing you were talking bout the job thingy, you cant diversify, whereby money ucan diviersify into many many portion okay.
50k savings:
25% to endowment,
10% savings acc
30% FD
15% investment
10% emergency
10% Etc

what is a person get a 2 year contact job? can he diversify into many portion? =)
I'm not from cash builder, i'm not from any agencies. I'm just trying to ask people's opinion about endowment plan here whereas many people have many different examples and perspective

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Added on December 22, 2011, 11:20 pmTOTALLY AGREED TO THIS POST
*LIKE*

---nothin' is perfect---
---might have a chace for a better return---

This post has been edited by invisibleccc: Dec 22 2011, 11:20 PM

the writing is on the wall, still want to ask for proof endowment / FD better. Neither is good but FD better as you can use it anytime without any fuss. Opportuniy cost. Endowment money all locked up and you are paid peanuts when you retire. Your money is being used by the insurance company to generate more money by buying stocks and bonds and to pay their agents commission and salary and to renovate their office sui sui. Understand bor?

hey hey, this is what i believe in okay,
i believe that endowment is not an investment
i believe the market will burst in Malaysia, eventually.
sorry we're not debating about goodwill or not. it's just you own a land, you're rich.

oh too bad, you totally don't understand what i'm talking about, the guaranteed return is not about the sce.a or sce.b return, is the base guarantee return, which is below their capital.
i was a part time agent before, in HLA & GE. something like double crossing. so i get to learned both products and the way they run their business.
in either way, i didn't support any one of'em.

here we are talking about, was endowment plan worth or not. Since the future we can't foreseen, you cant said that endowment plan isn't working also right?
nothing is perfect.

IF FD bla bla
IF ENDOWMENT bla bla

it's just a guessing, FD? Endowment? worth or not? it depends.

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Added on December 22, 2011, 11:35 pmi know that also, becuz what you said is what's happening right now.
some people save money, some people earn commission.
this is how it works, you want a chance to grow your saving, they'll spent up all your money at the beginning few years.

then only they try to give u bek the return.
in other way, which can say that someone is willing buy and someone is willing to sell.
to those who put 500k into an endowment plan, are they stupid?
idk.

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Added on December 22, 2011, 11:37 pmthe first endownment plan arise in the early 2000's, so there havent been any endowment plan matured yet, unless surrender earlier.
at that time, the endowment plan was 10yrs and 12yrs payment, how could it matured so fast?
are you saying they purchases unit trust in the early 90s?

This post has been edited by invisibleccc: Dec 22 2011, 11:37 PM

Oh, thank you.. Sure good luck..
There are rejection and acceptance in market.. It is just part of the life. Different people have different perspective on looking into different kind of thing.

Although I had to admit that I am not an active one selling saving plans.. More active in some other things that can see a way faster profit. But some people cannot take it, might choose something that is of conservative probably, want to be insured, want some ok ok returns, want to feel secured.. Want to leave a legacy for their next generation..

Cheers.

can i cancel my policy? i know there is 15 days free look period whereby if you can cancel and the insurance company will return your premium paid.

although the policy has been in effect for 2 months, but until now i haven't had the chance to look at my whole policy at all...the stupid agent kept getting my IC No. wrong...my big mistake is, i've signed some note saying i've received the policy....

since the policy has never been with me, is the 15 days free look period still in effect?

call the CS directly to check whether your policy is within the 15 days cooling period.

sorry....what is 'CS'?

Endowment plan premium is your hard earned save money, it is like a forced saving.
Then those saving earn x% from the insurance company.

This is not the like a few year commitment then can build up some wealth.
All saving are from your premium aka your money.
Yes, it can compounded then being seen quite big after 20/30/40 years.
But so does FD, just the difference is the x% number given by FD and y% given by the plan.

Just like previous forumer said, you want 30k GYI, then you need to put 100K premium pa for 9 years.
So can ordinary working class person commit 100k premium pa?

That is why it is for the rich and good holding power, a lot of money dunno where to park, so park a lot of places.

It is asset diversification purposes and got tax benefit.
The tax benefit can easily outweight the x% return of from the plan.

Also, it can be seen as a "protected/secured" way to pass money to beneficier.

It has its usage, but definitely not for one to look for return, the return usage is down in packing order of priority.

I'm not rich but most agent persuade me to buy it......

they just want to take care of their income....personal financial planner? my foot....

customer service or support

Diversify the portfolio should be the best way if you have so much money

well spoken here

Endowment started in early 2000? You are really clueless.

Yeap.. Asset diversification. It will come a day when you will get to understand this when you are holding millions in bank. Bank can protect up to 250k only.. So even bank is not safe for them to put all money there.

Also, can be a good vehicle to pass a legacy. Father buy, put son name, daughter name and so on.. After they grown up, they take money, no need fight. Each got each share.

Small got small play, big got big play. If you are small and play big, you will end up being burdensome, stress.. Not feeling well, forced to do something u don't like, felt cheated and so on..

Once not comfortable to commit in first place, don't commit at all. Or the amount to big, cut it smaller. Don't have a big hat, don't wear something too big.

oo.. okay .... I understand bro~

Takpelah... asalkan hidup bahagia


on the side note~ Just got approached by a HLA newbie agent today, selling also cash builder~

according to him, is so much better than FD invest 6 years only, and after 6 years I get back everything (principal + interest + dividend)... I was like WOW! got such a wonderful thing or not...

by rough calculation 100K/ year = 600K

if everything run smoothly by end of 6th year I should be getting... probably about 732K .... but then after I ask to show the plan... I was looking at 6th year cash value.. it was like 630K+ ... I was like WTF! where is my another 100K gone?

I ask the agent, "is it you gonna give me personally the balance 100K??"

correct me if I am wrong, when comes to pre mature withdrawal of insurance, we should refer to CASH VALUE at that particular year right?

in this case, this policy actually worth if I could hold till 30 years plus I get the bonus if the investment HLA made is performing.