Hmmm... you are right, he has to pray for nothing happen to him within 10 years at least.

Nevertheless, there are many Director get themselves covered with 1 million coverage from me. The premium per year are up to 50k per year. Wouldn't be wiser if the directors spend the 50k/year in property/investment?

Hedging risk with liquid cash is priceless comparing to growing asset.

it's all down to perception of wealth.

e.g. a multi-millionaire would have no problem paying for a RM100,000 medical bill, but he feel better having an insurance company paying for him. he actually don't NEED the insurance, he can comfortably self-insure.

This post has been edited by Pink Spider: Jun 3 2013, 02:14 PM

It's not about medical bill in the eyes of millionaire. My friend's dad(not multi-millionaire, just a mediocre millionaire) just paid his RM270k medical bill in Sentosa Medical Center by cheque(but he said very heart pain ).

It's about the liquid cash that will help their family and businesses while waiting for the will to execute. That's the priceless stuff.

U just pointed out the problem, maintain enuf liquid cash in easily accessible form kaotim liao lo

Yes, you are right. However, the lack of trust between the father-son and father-wife hinders the father to put their cash into their account. Well, if this could be solve by just 50k/year, why would they put 1million into their wife account? Wife later go buy a lot of hermes/belian cincin

Most of the businessman wants a secure and proper way to solve their problem, they willing to spend money to solve problem.

This is a savings plan la, insurance coverage is not high. All money tied up till 26 years.

Ya, the topic derailed

it is a saving plan la, dun say cheat. say cheat only if u dun get the concept ....duh!

"Lengzai, this savings plan give u 10% return!"

10% of what?
10% paid every yearly? Quarterly? Monthly?

Both sides are at fault. Seller did not explain thoroughly, buyer did not bother to do his own homework and ask further.

seller opinion is always try to close sales, he/she of coz do not wan much questions from buyers....

+1 bro

Lol the bunch 126 agents fail their maths la..or they eyes only $

Plz dun simply say without any knowledge about it thx.. it can withdraw any time.. but if u reli surrender , it is 6th year bcoz u wont lost any money.. no believe call hong leong assurance and ask.. dont simply say thx..

Of course it is not high return if you compare with high risk investment this is a "Saving" a merit goods. This is for your future planning for your retirement fund or for your kids education fund.

Please check out savings definition "The portion of disposable income not spent on consumption of consumer goods but accumulated or invested directly in capital equipment or in paying off a home mortgage, or indirectly through purchase of securities.

Read more: http://www.businessdictionary.com/definiti...2XxJOYYsv"

for those who say cheat
hong leong agent here ...
how we cheat you ?
come to our branch i will fking sue you

Haha... Why so angry until bad word come out

all HLA agent won't cheat one la

SOME just conveniently forgot to mention certain important T&C upfront unless asked

inb4 as customers we are suppose to be financial savvy and know how to ask the right questions, if not it is our fault, not the agent's fault

I would like to add in my 2 cents.

People conveniently forget that saving plans, in its core is an insurance. They generally provide more than FD, but with things that other investment vehicle cannot match. So lets think in the below scenario:

1) You died/total disabled. You will have the Sum Assured and whatever extra bonus the plans offered: ie the remaining years of unclaimed guarantee cash (AIA ) will be payout. While other investments you only have what you had saved/invested.

2) You died. How long before your family can get the money back? Does that money need to go to your estate first, go through your debtors and finally what ever remains only get to your family? Insurance pay out will be in only weeks and straight to the beneficiary. While others, even your joint account will be frozen. God forbid you do not leave a will and you can expect years before your family can receive your money after paying off all your debts.

Hahaha this kind of attitude agent.. confirm 100% cheater one.

Not honest when in speaking, never honest when dealing.

Cheating or not really boils down to how the agent explained and sold this to you and if any vital information was left out. I signed up for this plan from a close friend and was told that you can withdraw the funds any time even within the 6 years, but of course if you withdraw the funds within 6 years there will be a fee. The plan last for 25 years and to not get charge a penalty by withdrawing your capital you should keep your funds for 6 years.

If you really need money within that period you can always withdraw the interest accrued, I was also told that additional interest is paid on top of the compounding interest.

Anyway I'm not an agent and I treat this as a saving plan, my advice is to only commit an amount that you know you can live without.

This post has been edited by 8181: Jul 5 2013, 01:45 PM