Oct 7 2015, 06:45 PM
QUOTE(adele123 @ Oct 6 2015, 07:47 PM)
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.
Hello there, can you kindly explain the bolded parts? I've been promised that I can withdraw everything out by year 7.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.
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.
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