which insurance best for investment, get good return？ 
Nov 20 2013, 04:57 PM
QUOTE(roystevenung @ Nov 20 2013, 04:48 PM)
None. Do the savings in pure savings like bank FD or ASNB, never in insurance.
When you look at insurance, you are buying the coverage associated to it. The cover is NOT FREE and RM 100 that you put in perhaps RM60 will be used to buy you the cover.
This is why if you choose to surrender the plan in one year, if you put in RM1200 per year, you will only get back RM 400 maybe lesser.
Do not get brain washed by insurance agents selling and promising you high returns. At least for bank, you can withdraw it after one year. For insurance savings, you will need to wait a minimum of 20 years before you can touch that money.
<----- honest agent
Terimakasih Tuan Speaker fazlythewarrior
one time I saw a brochure my Mom got from her friend, about one planWhen you look at insurance, you are buying the coverage associated to it. The cover is NOT FREE and RM 100 that you put in perhaps RM60 will be used to buy you the cover.
This is why if you choose to surrender the plan in one year, if you put in RM1200 per year, you will only get back RM 400 maybe lesser.
Do not get brain washed by insurance agents selling and promising you high returns. At least for bank, you can withdraw it after one year. For insurance savings, you will need to wait a minimum of 20 years before you can touch that money.
<----- honest agent
Terimakasih Tuan Speaker fazlythewarrior
some insurance coverage, not very big
but as for the savings part, even though the commitment/payments are small, simple calculations reveal the customer would be essentially buying the product to lose money... the return was so small that it represents a loss when compared to/discounted at the regular term deposit savings rate
the cover is limited, so I would assume no claims, or no chance of a claim... meaning the cover would be worth nothing
to a layperson the product might seem nice with all the promises of "cash"
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