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 Annuity Insurance Product, Tax relief RM 3000

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wongmunkeong
post Jan 2 2012, 10:21 AM

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QUOTE(Colaboy @ Dec 31 2011, 08:35 PM)
bad english . . . this is the only product which qualify for tax relief  thumbup.gif
ya  . . . definately

I have include an Illustration of Return base on a person age 30, class 1 or 2, non-smoker, yearly premium RM3,400
The premium are allocated to RM3000 for annuity / retirement & RM 400 for life(RM22,000 sum assured)

[attachmentid=2615706]
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Colaboy, just to clarify your attached illustration:
1. Payment is from year 1 to 25 only - RM3,400 per year?
2. The projected X% and Y% - what is the X% used and Y% used?
3. If i get/take the projected total income per year, at 70 if i die, will i still get the "Total Death Benefits"?

This post has been edited by wongmunkeong: Jan 2 2012, 10:23 AM
wongmunkeong
post Jan 3 2012, 01:14 PM

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QUOTE(Colaboy @ Jan 3 2012, 04:01 AM)
ya . . . every year around feb/march company will send you a copy for tax relief

Example: Life RM6000 / Medical RM3000 / Annuity RM3000

Added on January 3, 2012, 4:15 am

1) Payment is 25 years . . . cause base on age 30 individual & most likely will continue working up to age 55 before retire.
Ya RM3000 goes into a retirement account, the balance RM400 is the sum assured

2) Consist of PRUEquity Fund & PRUBond Fund - X is base on 6% and y is 2%. The percentage of equity and bond fund allocated will defer as one person grow older ==> bond fund will be higher  thumbup.gif

3) The sum assured of RM22,000 only covors up to age 55, main purpose is for tax relief  thumbup.gif
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Danke for the clarifications Colaboy.
Hm.. can the $400pa for life insurance be negated?
ie. i pay $3,000pa for just purely annuity since my EPF deductions already above the allowable tax relief amount pa

My apologies for all these detailed Qs - i'm calculating whether worthwhile to get into annuities for the tax relief + the returns, as a cash / fixed income class diversification.

Thanks in advance. notworthy.gif
wongmunkeong
post Jan 5 2012, 01:20 PM

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QUOTE(Colaboy @ Jan 3 2012, 05:11 PM)
thats the minimal you need to purchase . . .I'm affraid NO
thumbup.gif  thumbup.gif  thumbup.gif good job with the brochure  . . . should have a lot of information inside
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Thanks Colaboy.
In return, just to share my calculations based on your sharing and my income tax relief (at 26%). I was hoping that it'll be more worthwhile than the previous time i tested an annuity product.
Attached Image
Attached Image

For fellow forumers interested in calculating their own expected returns based on the above (ie. tweak your tax and specific stuff), attach is also the Excel file in ZIP format.

This post has been edited by wongmunkeong: Jan 5 2012, 01:21 PM


Attached File(s)
Attached File  Prudential_s_Annuity_based_on_Colaboy_s_sample.zip ( 17.46k ) Number of downloads: 94
wongmunkeong
post Jan 5 2012, 05:12 PM

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QUOTE(Colaboy @ Jan 5 2012, 02:27 PM)
very nice calculation you have done  thumbup.gif  . . . well this is a quotion on the minimal you will received if
X = 4.51% return & Y = 2.2%

Historical Actual Annual Returns of the Funds

Golden Equity Fund
2006 = 19.80%
2007 = 27.80%
2008 =-31.30%
2009 = 42.50%
2010 = 21.45%

Golden Bond Fund
2006 = 6.40%
2007 = 4.40%
2008 = 2.40%
2009 = 6.20%
2010 = 5.67%
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Colaboy, hm... does those returns bulat bulat get into the annuity holder's value?
Attached Image
OR
those are excluding cost (service charges on top of NAV)?

Looks good the Equity fund, though the Bond fund is ok-ish. Annuity holder can choose which Fund to ride? My apologies if this Q was asked before - i only awake when i see numbers & % notworthy.gif


This post has been edited by wongmunkeong: Jan 5 2012, 05:13 PM
wongmunkeong
post Jan 23 2013, 09:25 PM

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QUOTE(xenon_aniki @ Jan 23 2013, 03:59 PM)
Anybody has a sample of Smart Income Plus (UniAsia) quotation/ sales illustration?
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I have the ACTUAL in hand hehe - signed up for this early last year.
Unfortunately, have to dig out to scan (and no scanner @ home, just office).
Choto-mateh kudasai notworthy.gif Fri can?
wongmunkeong
post Jan 25 2013, 09:29 AM

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QUOTE(xenon_aniki @ Jan 25 2013, 09:18 AM)
Would be marvelous to have that bro!!
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aiyak - overslept (so nice the rain.. to zzz), didn't bring the doc to office for scanning. doh.gif
Snapshot via phone later tonight can? Worried too "blur" can't see properly though

This post has been edited by wongmunkeong: Jan 25 2013, 09:30 AM
wongmunkeong
post Jan 25 2013, 12:31 PM

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QUOTE(xenon_aniki @ Jan 25 2013, 12:19 PM)
Ok thanks. May i know what is the commission charges
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huh? whatcha mean by commission charges?
this is not PRS nor mutual funds wor... blink.gif
wongmunkeong
post Jan 25 2013, 09:45 PM

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QUOTE(xenon_aniki @ Jan 25 2013, 03:10 PM)
What i understand is every insurance product will have commission charges, paid using our premium. It is the portion of our premium, but guided by certain guideline by BNM/Insurance regulator. Furthermore, the agent has to brief the client on the thing as it is stated in guideline for insurance product transparency.  hmm.gif

You may ask your agent on this and he/she obligate to answer.
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Here ya go - are these the stuff U are looking for?
erm.. U may have some pains understanding it, thus i've attached a ZIPped Excel which i've calculated & confirmed with the agent earlier. Match the schedule to the "payouts" of pages 2 to 4. Page 5 are some T&Cs for reading.
I didn't scan the kakaload of general legalese

This post has been edited by wongmunkeong: Jan 25 2013, 09:53 PM


Attached File(s)
Attached File  UniAsia.pdf ( 1.48mb ) Number of downloads: 136
Attached File  Annuity_UniAsia.zip ( 8.95k ) Number of downloads: 115
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