haha....well, for them...its a l00phole
he doesn't have EPF because of his job....so thats why my relative took this plan
the 36 illness policy is insurance or medical card actually?
i have medical card but no insurance...and dn't think need one yet

36 Critical Illness is Life insurance, typically it covers Death/TPD/36CI. Due to the fact that traditional policies which covers 36 Critical Illness can be claim under "Health/ Medical" portion, it can save you plenty of money from paying tax.

36 Critical Illness is important because this is the money you are giving for yourself when unexpected event happens.

We are all work for income and we are all aware that we have a fixed expenditure which we have to fork out monthly to continue our life, be it loan or life expenditure such as meal etc...

When one diagnose with serious illness, the income level might drop to zero. But he will definitely need an income replacement to replace him as the income generator to pay for his expenses and loan apart from the medical bill is bear by the medical card.

So, if a person without adequate of 36Critical Illness. While he is recuperating in hospital he must expect that his car/house will be lelong if he isn't got the capability to pay the loan off due to loss of power to generate income.

Well, I'm offering some good tailor made 36 Critical Illness coverage, shall you interested, do give me a pm.

I referred the term as "Rebate" so it is more understandable for most people. You are actually cashing out your own premium (principle) if you were to cash out from year 1 - year 6. Since you find it good, I suggest you should purchase rm10k per year and try withdrawing the so called "interest" from year 1 - year 6, see what do you get at the end of year 6.

If im not mistaken, you get like 10k - (1.2k x 6) maybe + few hundred. If you want to see the picture clearer, get a YEARLY WITHDRAWAL QUOTATION from the agent and you will know what I mean.

This plan is crap for me, there are more substitute for this plan in this market.

Cannot say rebate.. wrong term.
Use cash out is a better term

Rebate is... agent get commission, giv u back.. and that is call rebate. But is not ethical to do so..

+1

Yea there are many kind of substitute in the market and thats right.

But each different substitute got different reward, risk and also the discipline imposed to the person.

Is up to the eyes of the beholder...

This plan comes with protection ?? as in for TPD or DEATH ?

My Agent introduced this to me last week. According to him yes there is a life insurance attached to it, but don't expect high sum assured amount, unless you commit a large sum for Cash promise plan

Hello people. anyone knows the complete list of interest earned?

- 12% for the principal invested for every annum
- how about the 7th to 25th year? Still 12% on a yearly deposit?

Thank you!

Hi All,

I've bought Hong Leong Assurance Cash Promise myself and I'm their agent. I'll do my best to explain the plan to those of you who are interested to know more. No hard-selling/BS, just info-sharing *promise*

Basically this is a savings plan, hence the returns cannot be compared to investments plans. I'd be totally honest, the "realistic" expected interest u can earn is 7.04% per annum over a period of 25 years (without withdrawal). But before you say it's low, it's still way higher than KWSP average dividend rates. Heck, the only times KWSP was able to beat this figure was during 1980s-1996. Even during 2012 pre-election (pre-elections usually lead to divident rates), KWSP announced a mere 6.15% and you saw people lining up to check their accounts! So what's more with 7.04% return?

Fixed Deposit rates do vary as well, although it's been relatively stable in Malaysia. But there's no guarantee, it can drop to 2.00% or 1.00% p.a. depending on the economic situation just like what we've seen in other neighbouring countries. Fixed Deposits definitely wins in terms of withdrawal flexibility but it has a few disadvantages as well.

So then, the decision whether to save using Hong Leong Assurance Cash Promise will be entirely up to u.

If I have earned your trust with my honesty and need more info, do PM me.

so if i can have better investment out there earning more than 7% i shouldn't bother with this CASH PROMISES?

justaregularjoe Well, as I have mentioned earlier, there's a difference between savings and investments. Investments are used to grow wealth (higher returns & higher risks). Savings are different. Plus, which investments does one need not monitor daily/weekly/monthly? And who can claim they have never lost in a single investment?

I'm not advising that investments are dangerous and should be avoided, just the difference and the stress involved. Plus, there are many other advantages that insurance savings plan have over investments.

Just sharing.

Since this is savings , means if i withdraw anytime example 2 year time , i will get back full amount right ?

If yes , this is the definition of savings , if amount is lesser thats call investment , no ?

This post has been edited by andrewleewaikeong: Nov 12 2013, 01:20 PM

spot on.

imo, people without any knowledge in investment will be attracted to this "Cash Promise"

7.04% of what?

Are you sure 7% of the premium paid?

Please stated the IRR calculation for it.
If not, anyone can say any number.

If it is 7%, it should be selling like hotcake out there.

This post has been edited by cherroy: Nov 12 2013, 02:18 PM

insurance savings usually have lock up period, if u withdrawn between these period than you incurred loses or maybe 'earn less'

i rather u invest in something like Allianz Investment-link policy, it is like buying shares, but much mroe stable growth! Besides you'll have some life protection!

7% not surprise given the disadvantage of longer lock up period, money in 25 years doesnt worth as much as now. probably 5 years down the road something like superinflation would occur!

You get me wrong.
I am surprise if any saving plan can get an IRR more than 7%.

This post has been edited by cherroy: Nov 12 2013, 02:43 PM

i know what you mean, yep this is probably the first? but with lot of 'catches'? most of the agent interpret it as 20% IRR yearly!

I think is more like possible to get 7% annually after holding for 25 years. All the saving plan out there is just a insurance plan that offer you a saving mechanism. The avg return is slightly higher than FD lower that Bond. Which mean earn around 4% - 7%.
Cheers.