This is a long term saving plan.... don't expect to profit in the first 15 years ...

thank you. Long term is not for me.

This post has been edited by frostfrench: Sep 23 2015, 11:01 AM

Need some advise bros here... i just bought this plan less than a year paying a premium of RM6k. What is the breakeven ? Say if i were to withdraw by the year 7, will i get all what i have put in ?

My agent says can. Or is she lying. Since some of u mention it is a long term savings for 15 years to start seeing a profit..

without punching calculators or being technical at all, and i'm pretty sure i'm 99% correct...

no, you can't break even by year 7.

why you ask?

HLA Brochure

Please refer to page 11, #4.

in the initial 6 years, 173% of your annual premium is gets burnt...

how do you break even to earn back this portion?

Long story short for the average layman
1) this is an insurance product with investment element, not a pure investment product
2) before you say HLA is bad, every insurance company out there do charge you something, else how can they earn money?
3) insurance... break even is possible... but hold long term... and long is very long...
4) if you want pure investment product, don't buy investment-linked insurance.

Thank you. Appreciate. dont feel to continue next year . maybe i will cancel it. not sure if i get anything back...

This post has been edited by Ah Goo: Oct 6 2015, 11:05 PM

if you have more questions, i can answer in detail. after you study what you have bought.

you will definitely get something back. just not much. insurance is meant for long term.

you work in insurance industry?

Hello there, can you kindly explain the bolded parts? I've been promised that I can withdraw everything out by year 7.

Here's what I've been told:

Say I put in 100k every year. For 6 years.

Yearly cashback 20k + 2000(depending on HLA's performance) + extra cash incentives

If I withdraw everything out on year 7, I'll still gain. Even after deducting inflation 6%, GST 6%

Do correct me if I'm wrong.

you give 100k for 6 years... total 600k

you get back 22000 for 6 years... total 132k...

need i explain further?

like i said, you need to read the brochure and understand first, then maybe read my post here

https://forum.lowyat.net/index.php?showtopi...post&p=76757524

This post has been edited by adele123: Oct 7 2015, 07:09 PM

this is a cash value or permanent life insurance product with variable returns-a not inconsiderable amount or substantial portion of your monthly or yearly contributions are invested in mutual funds run either by the insurance co or manage by 'partner' or 3rd party independent mutual funds.as we grow older,the portion allocated to 'investment' diminishes while the premium for the other part-life insurance increases

the insured can borrowed or even paid the premium by using those cash value accumulated in the investment'account'

the return on the investment and hence your 'cash value'is solely dependent on the performance of the mutual fund and these products imposes a hefty penalty for early withrawal which presumably would deter most participants from leaving the insurance scheme

if you are only interested in the life insurance part of the deal-just buy a term insurance wihich is considerable cheaper than this whole life insurance product

these are products originally designed in usa for taxation purposes as monies invested in the product can grow without incurring any capital gains/personal tax until withrawal

It's advisable to get your financial planning check again by someone who genuine is there is help you out and see if it's reasonable to cancel it or not.

If you have any question, feel free to ask me.

i've just get my policy yesterday, is it really not a wise choice to put money in this?

Appreciate it. Thank you so much..

Hi.. I just want to know when can we get back all our principal and the accrued interest with this evergain fund? After how many years? The agent that approached me says 12 years?

And then he said current price is 0.82
The guaranteed price when i cash in at the end of my contract is at least 1.42



I can't understand how the earlier calculation works.. so how much percentage of interest do I expect?

This post has been edited by wkyrichie: Nov 28 2015, 11:05 PM

Bro.. you are more into Stocks or Forex?

No other investment instrument other than these two?

Avoid 126 group selling this product. I was cheated by agent of theirs

Possible to elaborate more on how you was cheated? This group is from Klang Valley?

Based at Kota damansara. No full disclaimer of the product & grace period

if current price is 0.82 and minimumly you will get at least 1.42 12 years later, then...

0.82*(1.0469)^12=1.42

So... 0.82, earning 4.69% every year and compounded, 12 years later you get 1.42. sounds good?

Now the problem is this...

1) you lock your money for 12 years minimum (based on what your agent is telling you). can go for 4.5% FD lately... lock in 1 year only...

2) this is the price you buy, and the price you can sell. but those are NOT your actual returns...

let's use simple examples with simple numbers

Now over say 12 years, assuming you buy 1000 units per year, you should have 12000 units... correct?

BUT... over 12 years, some of these units will be deducted to pay for insurance coverage, say 50 units per year...

so at the end your balance is say 11400 units... so... your actual return has to factor in these too...

So... 4.69%? no not really...

Last time my insurance say pay for 14 year then can opt not to pay. Policy will continue by itself.

But now already 17 years.. Cash value + dividends only can sustain like 2++ years only if i opt not to pay the annual premium...

Sigh...