what endowment plan ur refer to? hongleong assurance saving plan or maybank etika is endowment plan?im HLA newbie as saving plan seller

Hongleong assurance

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Added on December 18, 2011, 3:50 pmIs this a endowment?

as i see, FD could not fight inflation, inflation risk remains bro.
current market highest 3.6% which lock in a year
even RM10,000 x 3.6% = 360 A Year, which is only RM0.98/Day only.
it's morel likely you put the ten thousands under your bed O.o

endowment is something like PENSION
cos majority of us working in private sector...we have EPF but not PENSION
thus buy endowment only if you wish to get "paid" each month after your retirement age(eg; 55-75)

ps : you also get few times lump sum amount of $$ + insurance protection

if you are someone who can manage your finance well in your younger age, then endowment not SUIT you!!

i still cant get ur point. whats so much different this saving plan/ cash builder compare with fix d? the return between these 2 can be almost same, except the fixd interest is vary by market. so whats wrong buying a saving plan?

at least there's a chance for endowment to fight inflation?
likewise FD rates are fluctuating, no ones guarantee what ius the rate in the future, even japan is only 0.15% OMG

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Added on December 22, 2011, 3:51 pm

by saving into a fd account
you commit lesser time
3 months to a year
low commitment low return,because banks couldnt secure your money in long period of time for them

now
saving plans force you to commit 6-9 years time depends on plans
in that case they could secure your money for a long period of time to actually do their investment
let me repeat again,saving plans are not investment,period.
high commitment high return because they can utilize your money for a much longer time
if you chose not to sign up for pay out for the GYI
by right your GYI (compounding interest) + dividend + capital should be ready for you upon maturity date
or minimum break even at the end of the premium lock in period
now,again if you choose to withdraw anytime you want
please do not choose this plan

what i'm trying to make a point here,save early (locking system) and reap later
there's only gain and no loss IF you do not surrender within the lock in period

1st time heard then 1st time learn
now,enlighten me
who are the agents and seller representing?

set an appointment and i can show you GUARANTEED RETURN in the policy
By right if you think it's an infringement of the law,pls do so by reporting to the BNM
all the plans by HLA are monitored by BNM and insurance act
lock in only 9 years but you enjoy GYI for 40 years/30years/20years
the figure varies

sure you can compare to fd
assume FD interest at 3%,100k each year
9 years of saving could only give you rm135,017
with each year interest varies
while saving plans 9 years could give you rm270000
with each year GUARANTEED 30k income at every year

you have 1.x millions - capital savings
how much do you got?
if you're talking about both surrendering at 9th or 10th year
pls CHOOSE FD.seriously if you're looking for short term saving in 10 years
you have much better value with that

and i believe i've already told you that
missed any premium you'll only get back 60-70% of your premium
the main point of the whole saving plans are the compounding effect
sure you can surrender at 10th year,but i can tell you that it's lesser than fd by your context
i dont have to be dodgy =)
if you want to know,then please i would want to meet you and show you all these
nothing to hide

pay 100 get 30 until 20/30/40 years with compounding interest and dividend
if pay 100 only get 30 and nothing else,and please by god's will struck me to death

btw,you're right by calculations if surrender in 10th year you'll only get break even

even by your context during the 9th year you're getting cash back
but 10th year onwards are you still getting cash back or pure income?

Buyers beware.

If you don't understand in the first place, you need to do homework before investing your hard-earned money.

The ones that needs agents to explain to you what it means are the ONES TO AVOID.

Make sure you understand and agree with what the agent is saying before you invest. Don't let the agent bully you. If you don't understand, put your money into FD.

1) for Guarantee Income 30k per year, how much premium (so-called savings) must Steven83 pay for 6 years, assuming he is 28 today?

2) "100k each year 9 years of saving could only give you rm135,017" 
- are you trying to say save 100k EACH YEAR?  or saying 100k one time savings?
3) while saving plans 9 years could give you rm270000
with each year GUARANTEED 30k income at every year
- how did the 100k become 270k and from this 270k, HLA will payout GUARANTEED 30k income every year?

for 100k to become 270k in 9 years, interest would be at 11.66% per annual, and for 30k to be paid from 270k, the yield is 11.11% per annual.

Did you manage to sell this brilliant plan to Warren Buffett and Jim Rogers? You should pitch to the Governments of Europe, Japan & US since their interest rate is close to 0. They will buy a shitload from you. And since your commission is close to 18%, hey, that R8 is dirt cheap.

All this assuming I understand correctly what you have written. Dem, I should sell my HLFG (1082) tomorrow since its dividend yield was only 2% last year.   

Speaking of infringement of the law, funny you should bring this up. Your company where got infringe the law, like you said BNM approved mah. ITS THE AGENTS, AGENCY MANAGERS, TRAINERS WHO ARE SMARTER than the ACTUARIES by putting a marketing spin to the product, who are infringing the law. No marketing spin, you think your product can sell?

Look at Eqita Maybank, you see them everywhere some years ago, promoting 10% interest, better than FD,etc etc.. its basically an investment linked policy, but without that marketing spin, you think they will sell. Whose brilliant idea was that? Who infringed the law? Agents or Eqita? By the way, where are they now? 

yes i also agreed with you, but your statement doesn't prove that endowment plan was a worse saving plan also right?
there is no prove for FD and also endowment because we cant foreseen the future.
the only thing is, endowment plan has a chance to build up your savings with only a few years commitment, because definitely we're not putting one lump sum of our saving into endowment wad. Just a diversification.

whoever putting all their savings into the endowment plan, they're just too stubborn with 0 financial knowledge.

Saving plan is for those $$$ rich, too many until don't know where to park, so end up where also park

Got good holding power, can hold long long, and won't feel troubled by it, then go on with it. Those over committed will surely find themselves in trouble.