Biggest advantage of PRS = zero sales charge. Can still withdraw..... Just pay 8% penalty to LHDN only.

Once I attended Yap Ming Hui's seminar and he said look at your bank account and other saving vehicle.... Which one has the most money in it?

He said it is KWSP isn't it? Most of the participants said yes. Yap said why is it the biggest chunk? Because you can not get it out.... Hence it is by far the biggest saving you'll ever have. He said human nature makes us very vulnerable to want to withdraw the money and spend it.... It is just human nature.

Xuzen

Oops. sorry... yeah you are right, can only withdraw from a/c B which is 30% of your total sum invested.

Xuzen

This is not a personal rebut to MNet, more like I need to further clarify and elaborate on MNet's generalised statement for the benefit of other readers.

Protection in this context means Life coverage and in the basic rule of finance, remember this, "There is no free lunch", all comes with a cost. So when a product is built in with a life protection, a premium has already been levied on the product itself, so don't think it is free.

Hence, if for someone who already bought whole-life elsewhere, why should he pay extra for something which he does not need? This brings me back to my statement on life assurance products. In order to cross sell and boost sales, many of these life company are mixing creatively to sell their goods. That is why there is a lot of hidden charges and lack of transparency in the industry. Client may be paying extra for something that he may not need.

Xuzen