QUOTE(lrm8888 @ Nov 24 2013, 05:54 PM)
hahahaha...like i said you still don't get what i meant. Since my 1st post, i said it is my personal calculation from my understanding after discussion with the agent. i also put there (at the last para) "i'm no expert, just a simple calculation. i may be wrong"
i have called the agent (as per ExpZero advised) to ask the agent to provide me the actual calculation and i told him that i want the calculation to be form part of the contract (if i agreed to proceed).
anyway thanks for the advice.
by the way, did you by any chance approach by any HLA agent on this? if not how do you know my point 2 is totally not true? kindly care to explain? maybe you know something that the rest of us do not know? but i do hope that unless you read the contract before on this latest product, no point making assumption based on the old products. i think everyone here knows that old products will take more than 10 years to generate better return than bank FD interest.
also, i only know the advantage of the new product...i have no idea what's the disadvantage of it and i don't think my agent going to explain even if i ask?
You need to get a projection from the agent and look at the actual cash value. "Guaranteed" vs "Non-guaranteed". Normally you won't breakeven at the 6th or 7th year if that's how long they give you to pay your premiums. They pay their agent's commissions, administrative fee, etc, first. i have called the agent (as per ExpZero advised) to ask the agent to provide me the actual calculation and i told him that i want the calculation to be form part of the contract (if i agreed to proceed).
anyway thanks for the advice.
by the way, did you by any chance approach by any HLA agent on this? if not how do you know my point 2 is totally not true? kindly care to explain? maybe you know something that the rest of us do not know? but i do hope that unless you read the contract before on this latest product, no point making assumption based on the old products. i think everyone here knows that old products will take more than 10 years to generate better return than bank FD interest.
also, i only know the advantage of the new product...i have no idea what's the disadvantage of it and i don't think my agent going to explain even if i ask?
Don't listen to the agent, look at the projections and calculate the annualized return. http://www.investopedia.com/terms/a/annual-return.asp. And remember, projections are only projections.
Ex-HLA agent.
This post has been edited by JohnL77: Nov 25 2013, 06:58 PM