Hi Benny-T,

I have no problem supporting the saving plan of mine, but the major issue is I been mislead by the agent that FD are worse than this saving plan as the return are bad. I'm focusing on saving, not investment as I agreed that I dunno about investment, but as conclusion what I found is the saving return is worse than FD with addition that agent get me to buy an investment link package which also come with the rider protection + medical card. As conclusion, I feel cheated and this what I call overprotect which is a burn off. I'm in a very confuse situation now.... the worse part is the agent cover up so many things....if it was an saving plan, according to saving definition is I could withdraw it anytime, but for this case it was not!

Er....for mine saving plan....the guaranteed return is worse than FD...because there are no income for the first 10 years...I have compare for 15 years using excel and found out FD return are better...my plan is GJA3 with 5k per year. About 23k+ goes to saving and 26k+ burn off(this part didn't cover to me by my agent)

I have checked and compare if I surrender after mature, which on year 11 I will still have the lost of 9k (50k-9k = remain SV). In fact FD will return more....even after I reach age of 87...still FD give more...with 2% interest rate...

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Added on December 22, 2011, 6:40 pmI agree with cherroy on this "I feel a bit funny about the term "income" when some of those money may come from us in the first place.
Pay 100, get back 30, then 30 is income?"

100% agree after what I have gone through....

This post has been edited by Steven83: Dec 22 2011, 06:40 PM

Hi Bonescythe,

I was able to pay the premium without any issue, but here comes the problem. The cash value is non guaranteed, lets say the worse case I add in cash value 5% for my current saving plan policy. The end game still FD return will be higher in a long run even with 2% FD rate. The table in my policy stated very clear what is the SV value. And the best part of FD is way more flexible than saving plan, fyi for most saving plan once you withdraw it you won't able to place it back!

This post has been edited by Steven83: Dec 22 2011, 06:55 PM

Ok. Lets set a target of 15 years, no redraw from the saving plan at all. Ah Stupid is at age of 28 (random age). He starts his saving plan until age of 42(uncle!) The SV of the policy for 15 year is 56105 (worse case 5%)


10 year payment Saving return Interest Age
5000.1 5000.1 100.002 28
5000.1 10100.202 202.00404 29
5000.1 15302.30604 306.0461208 30
5000.1 20608.45216 412.1690432 31
5000.1 26020.7212 520.4144241 32
5000.1 31541.23563 630.8247126 33
5000.1 37172.16034 743.4432068 34
5000.1 42915.70355 858.3140709 35
5000.1 48774.11762 975.4823524 36
5000.1 54749.69997 1094.993999 37
0 55844.69397 1116.893879 38
0 56961.58785 1139.231757 39
0 58100.81961 1162.016392 40
0 59262.836 1185.25672 41
0 60448.09272 1208.961854 42

So 60448.09272 - 56105 = 4343.09272 lost of 4k+!
Just 2% interest rate can beat 4% interest rate. Imaging become 42 old uncle still the sv is worse. I better off invest in something better and don't forget the inflation rate.

And one more thing, don't forget by the time something unknown happen, the agent might not be there anymore. Who going to take care of my policy.....GE? That one will be tough...it reminds me of taiwan insurance issue...

This post has been edited by Steven83: Dec 22 2011, 07:18 PM

Join me. I'm going to cancel it even with the lost of 6k. I'm going to file report to BNM soon....

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