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> KWSP dan Socso, can change with another things?

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Benny-T
post May 6 2012, 01:05 PM

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QUOTE(K.I.T.T @ May 6 2012, 01:01 PM)
user posted image

this compare KWSP or Socso mana lagi bagus? rclxms.gif
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ini have to deposit how long ah?
Benny-T
post May 6 2012, 01:07 PM

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QUOTE(ar188 @ May 6 2012, 01:07 PM)
no see the photo meh.. 20year..
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deposit for 20 years????
so long eh
Benny-T
post May 6 2012, 02:35 PM

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QUOTE(K.I.T.T @ May 6 2012, 01:21 PM)
ko kerja bawah company lain diorang bagi Socso+KWSP.tapi ko keja dengan aku ..gaji aku bagi RM 968 per month tapi awal bulan 1hb ~ 7hb Prudential akan  deduct RM 68. gaji ko sebenarnya RM 900.tapi in real world (dalam slip gaji) RM 68 aku classified as advanced.

ko denggi ke / langgar paku karat ke ko sendiri claim pergi kat Insurance...Insurance tu bayar..insunracen tu nama ko 100%.company aku tukang bayar..esok lusa ko nak pergi kerja kat tempat lain tambah pengalaman insurance tu masih kekal dibawah nama ko....nak batalkan? nak giveup? sendiri tentukan.cukup 20 tahun nak keluarkan semua duit to.dipersilakan.kalau tak salah aku lepas 20 tahun total yang ada RM 8k lebih..

kalau esok lusa Prudential kena takeover by other firm thats another story la.
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bro,i dah beli plan HLA la
simpan rm383 utk 6 tahun jer
pastu dpt GYI sampai 20/30/40
Benny-T
post May 6 2012, 03:31 PM

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QUOTE(K.I.T.T @ May 6 2012, 02:46 PM)
HLA meaning Hong Leong Assurannce?  hmm.gif so protection how much? got medic kad?
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yearly 4600,1st year protection at 45k -+
since it's not for protection but purely savings,so i wouldnt insist on the protection
medic card,36 critical illness,all up to you and your needs la..
Benny-T
post May 6 2012, 03:35 PM

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QUOTE(K.I.T.T @ May 6 2012, 03:33 PM)
so how long u with HLA? u get and use what they offer?
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2 years already
recently only got sufficient income to save more

i'm only into their maturity,others not interested
but if im not wrong,if kena 26 crit illness,premium no need pay at all
Benny-T
post May 6 2012, 03:37 PM

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QUOTE(ar188 @ May 6 2012, 03:34 PM)
interesting plan then.. 4600 for 6 years only right? then auto grow..

how much returns per year? (guaranteed + variable additional bonus/dividend)
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4600 per year
rm1000 yearly return until year 20/30/40
long term insurance savings are only at 5-6%
if u hear anybody telling you that you'll get 25-30%,avoid them at all cost
Benny-T
post May 6 2012, 03:38 PM

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QUOTE(K.I.T.T @ May 6 2012, 03:37 PM)
how much the taxes?
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6000 tax deductible
Benny-T
post May 6 2012, 03:43 PM

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QUOTE(ar188 @ May 6 2012, 03:39 PM)
25-30% cheesin ar?!!  laugh.gif

rm1k for 20year means year 20 only get 20k of your basic?  biggrin.gif  but you paid 4.6k for 6k years wor..  (excluding this 5-6% ) means 6 year they use your 20+k to roll..
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thats why alot of people go complain to BNM when someone tells them that
it's impossible for savings plans to yield 30%p.a

1k for 20 year,20k for 20year
+5.5% dividend p.a

if u do withdrawal then thats the package la
if u do accumulation they give 5.5% p.a on your 1k yearly,compounding

QUOTE(K.I.T.T @ May 6 2012, 03:40 PM)
this tax deductable mean for incometax or its deduct from "our" package?  hmm.gif
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income tax as insurance relief
Benny-T
post May 6 2012, 03:52 PM

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QUOTE(ar188 @ May 6 2012, 03:47 PM)
yeah compounding, but start from 1k (1st year)  biggrin.gif  if start from 5 or 10k at year1.. then lagi shiok hor.. brows.gif

anyway what's the 20/30/40 year? automatically it'll stop your compounding your plan after 20year? (if choose that 20year option)?
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that one of course shiok lo...i also want like that but unfortunately i tarak

actually the plan can go up to 90years
but ask yourself can u live up to 90years?

but what i would advise is to take 20/30/40 considering we may not live that long,optimal la..
but compounding still goes on
Benny-T
post May 6 2012, 04:04 PM

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QUOTE(ar188 @ May 6 2012, 03:55 PM)
shiok when the plan go in auto pilot mode hor..  biggrin.gif  every year receive statement about money in.. but mine got 2 income, guaranteed payout + annual performance bonus.. can go double digit when added up (or high single digit percentage at slow years)..
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huhu yep,that i put my money aside dont have to think much bout it since im not gonna use it
mmm i guess diff company diff name, isn't annual performance bonus = dividend?

Benny-T
post May 6 2012, 04:38 PM

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QUOTE(ar188 @ May 6 2012, 04:10 PM)
yeah probably same meaning, but you mention only 5-6% right?
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dividend are based on performance
5-6% conservative calculations
it depends really
but im talking bout return in the whole thing

Benny-T
post May 6 2012, 04:57 PM

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QUOTE(ar188 @ May 6 2012, 04:47 PM)
i think it's quite tricky to calculate return on investment, cos remember year 0 to year 6 probably you paying RM4.6k but seeing 1k back at year 1 + some 5-6% dividend.. so average wise Y0,Y1..to Y6 return would be quite low percentage wise.. if want to calculate opportunity cost.. say if these money was to be added to your EPF. probably after year 6, then can see it growing very fast due to no more money needed to pump in..  biggrin.gif  anyway the key is to hold on for many decades as spare lor.
I wonder this surrender value can use as collateral for other bank loans or not?  laugh.gif
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the 1st 6 years are like what you said
if looking at surrender value it's low
most people get the wrong idea of getting rich thru these plan

well,it can be used as an collateral last year
but this year unfortunately you cant use them anymore.
just some info
if purchase these plan using company name.it can be taxed due to it's consider as assets once surrendered.

Benny-T
post May 6 2012, 05:10 PM

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QUOTE(ar188 @ May 6 2012, 05:00 PM)
yeah i was reading some taxation casestudy  for company.. even interest gain in FD also must kena tax..  sweat.gif
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but if you issue a cheque for director as expenses
then it wouldnt kena tax already
or,if the director put the nominee for his son or wife,it's considered as trust
tax-free
Benny-T
post May 6 2012, 06:09 PM

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QUOTE(K.I.T.T @ May 6 2012, 05:29 PM)
eh insurance plan pun boleh put atas nama company ke? shocking.gif i thougt only personal?
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keyman insurance
can buy wan
Benny-T
post May 6 2012, 09:42 PM

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QUOTE(K.I.T.T @ May 6 2012, 06:14 PM)
so insunrace premium double than usual?
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where did you hear that?
Benny-T
post May 7 2012, 03:02 PM

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QUOTE(K.I.T.T @ May 7 2012, 01:52 PM)
insurance kereta pay double mah if under company right?
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car,i dunno since i dont do general insurance
i only involved in life insurance

Benny-T
post May 7 2012, 03:03 PM

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QUOTE(mypetridish @ May 6 2012, 11:09 PM)
Insurance plans, however much they market it as an investment product, is more insurance than it is investment

my advice would be to buy yourself sufficient amount of insurance (basic sum assured RM200,000 for someone earning RM5000 a month), and the rest of your money go into pure invesment schemes like ones offered by unit trust companies, or commodities, or sharemarket, or properties... insurance products (like endowment) are not pure investment products
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which agent told you it's an investment,unless they're proposing you an investment-link insurance
IMO investment easily yield more than savings plan but comes with a risk
Benny-T
post May 7 2012, 03:46 PM

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QUOTE(seather @ May 7 2012, 03:21 PM)
so after 60 years (assuming u r 28 now) u get back around RM10~RM15mil (ur 14k yearly return + surrender value) for an investment of 400k????

that is just like putting a 6% FD for 60 years....  most long term saving plans promise between 4.5~6.5%

nothing much to shout about.... don get blinded by the big final numbers... always look at the annual ROI....
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4.5-6.5% at least im getting better than FD
it's true there's nothing to shout about when unit trust ,money bond ,warrants,tsr are yielding higher than that.
but at least i dont have to worry much bout the probability of loss
i could be wrong,correct me if i did.

QUOTE(K.I.T.T @ May 7 2012, 03:37 PM)
car insurance like that mah.insurance become double if under company name.if not mistaken Komissen pun tinggi sikit. sweat.gif
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doesnt cost double,almost the same if not higher.
Benny-T
post May 7 2012, 05:05 PM

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QUOTE(roystevenung @ May 7 2012, 04:46 PM)
Don't forget to minus off the insurance charge as this is INSURANCE, not mainly for savings like EPF. Suppose a 30 year old buys this plan and puts a payment term of 20 years. 5 years later developed CI, insurance company will pay the premium for the remainder of the term.

But you can't withdraw like your EPF (for CI) as this plan has not matured.

These are some of the items that you may need to consider....
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Undeniable,plans from assurance company have to be insurance in nature.
and yes again,withdrawing before maturity might not yield better return.
payment terms of 20years,thats just too long commitment even for me.
even though the end return figure are very high,but 20 years of commitment i might as well as putting it into any other investment options out there
what i opt for is extra cashes which i dont have to use,i can always put it in


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