I wouldn't advise to save inside a saving plan unless you're not a prudent saver or you are good in investing in other areas that will generate you a better return

Scam alert on this plan

interesting...would you mind elaborate more on this? where and how?
BNM has guidelines and review procedure on new products introduced by insurers and takaful operators.
BNM missed out and you noticed?

The plan itself wun scam. It's the selling agent who usually explain in wrong way.

I wouldn't call something that lays down in writing what u would get yourself into as a scam.

profit not as good as something else =/= scam

u no exercise diligence and read thru the prospectus and related documents, it's your own fault. We live in a capitalist society -caveat emptor. Capitalism punishes the lazy, rewards the industrious.

I'm not sure why anyone would buy a savings plan like this.

If you buy a simple 15/20/25 year term insurance and put the rest into an FD, you'd probably do better.

No to mention you'd have very high liquidity, without any fixed commitment.

Agree with you...

As you know ppl buy these mainly there do not have much knowledge on insurance savings plan, did not do research.. Another is of course the agent promising the sky..

Anyone had a look at the underlying funds ? TS mentioned aggressive.... I agree.

https://portal.hla.com.my/CMS/getattachment...et_Sep2015.aspx

Champion of champions fund.

This post has been edited by lukenn: Dec 23 2015, 12:20 PM

I only see lousy funds

True true

Do agents read line by line? 99% they not even know the plan.

Anyhow with increasing of interest rate & asnb ... Better go the route of FD n trust than this ... If u want insurance just get PA only few hundred a year

Sorry OT a bit, but just sharing.

Just read through some of the comments and thought I'd share this. The plan itself may not be clear, but the agent is the one who generally mis-represents.

I went through one of the links to another page, and saw the numbers of an old HL product called HL Cash Promise. If you know what to look for the numbers are quite obvious.

The moral of this story is to always ask for an illustration of how it works, with facts and figures, of course. In this scenario, best effort is slightly better than FD, but with a very long lock in period.



This post has been edited by lukenn: Dec 26 2015, 01:44 PM

Hi All

May i know is every product of HLA came with insurance?

I have been told by my friend if i put x amount (one time only) for min. 3 years, i can get back premium + interest

Haven't met that friend yet but would like to get more information first.

is this the correct site to browse the product? http://www.hla.com.my/product_and_services.aspx

Yes. because HLA is an insurance company.

and yes... but bear in mind THIS IS NOT investment product. if you are looking to invest and get something in return in 3 to 5 years, THIS IS NOT the way to go.

thank you for the info and advice.

i read the product sheets and see how...ask u all if i have further questions

thanks again!!!!

If need insurance get a purely insurance product.. If want to grow money by their interest, avoid this. Go elsewhere to do investment..

I have go through the products listed on HLA website and i found "Venture Invest Plus" which sound like what my friend is trying to sell to me - put x amount (one time) for x years.

the product sheet : http://www.hla.com.my/CorpSiteCMS/Presenta.../1403699557.pdf
the product site : http://www.hla.com.my/product_and_services...n=product&id=31

Can someone please correct me if im wrong?

Thank u in advance.

Venture Invest Plus is a single premium investment-linked insurance plan.

In layman terms, it works almost the same as a normal unit trust product... you put in premium once and ONCE only... (you can top up like unit trust product, as well) Except that if say the customer passed away, the insurance company will pay either the investment fund value OR the basic sum assured, whichever is higher.

SO... explanation aside... i am 99% sure what your friend recommended is this:
HLA EverGain Plus

To be honest, what your friend said is rather misleading...



Being an insurance product, and especially within the first few years, the money that you get back will be very much less the amount that you have paid. So, my personal opinion is that if you are looking for investment product, not HLA please.

IF you looking for insurance product, NOT this HLA EverGain Plus. The way they sell their insurance products, is rather misleading and not to your advantage.

Thank you, adele123.

HLA EverGain Plus has annual premium to be paid rite (like every year till the policy ends - i dont wan this kind of commitment)?

That friend is somehow considered best friend of mine so kinda hard to reject if he hard selling HLA product to me later.

Once i meet my friend, i will come back and ask more heheheheeee......

once you had bought and passed the cooling of period...no need to ask here again lor...