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> which insurance best for investment, get good return？ Chat

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roystevenung
post Nov 20 2013, 04:48 PM

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QUOTE(skyblack4492 @ Nov 20 2013, 03:30 PM)
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saving insurqnce？ pa insurance？
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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 laugh.gif

Terimakasih Tuan Speaker fazlythewarrior wink.gif

This post has been edited by roystevenung: Nov 20 2013, 04:53 PM
roystevenung
post Nov 20 2013, 04:59 PM

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QUOTE(ycs @ Nov 20 2013, 04:57 PM)
Do not get brain washed by insurance agents says an Agent  notworthy.gif
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rclxms.gif notworthy.gif notworthy.gif
roystevenung
post Nov 20 2013, 05:06 PM

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QUOTE(silkysilk @ Nov 20 2013, 05:01 PM)
very honest.... but wont that affect ur $$$ and productivity and ur immediate officer/supervisor?
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Trust in this business is not easy to gain and not overnight gain. It is a long term business and giving the clients the best advice takes us a long way.
roystevenung
post Nov 20 2013, 05:10 PM

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QUOTE(ar188 @ Nov 20 2013, 05:03 PM)
eh.. the 1st 2 years very little cash value due to agent commission sapu most of your premiums first ler. biggrin.gif
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sweat.gif bukan semua sapu lor cos it is an insurance product and you are paying the insurance charges also. Our commission is only up to 6 years, after that makan rumput liao cry.gif

Deswai if you nge nge want to kantoi the client by giving them products that are not much use, you think they will refer clients to you? They will only remember you make them lose money whistling.gif

QUOTE(tatabun @ Nov 20 2013, 05:04 PM)
roy tung unker,  you deserved to be belanjaed teh tarik

but dont ask me to buy insurance... just belanja while tokok only
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QUOTE(ar188 @ Nov 20 2013, 05:05 PM)
i'm still waiting for our lunch.. sad.gif
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Until end of the year susah sikit, sibuk banyak biggrin.gif Tunggu tahun depan. You from where liao? whistling.gif

Lai lai, PM me your contact numbers so that unker can serow poke you guys when free tongue.gif
roystevenung
post Nov 20 2013, 05:11 PM

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QUOTE(ruffaz @ Nov 20 2013, 05:06 PM)
health insurance. take one, cut your hand. claim ..... PROFIT!!!
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Cut your hand? Bro, any self inflicted injury is not payable, apamacam mau profit?
roystevenung
post Nov 20 2013, 05:14 PM

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QUOTE(fantasy1989 @ Nov 20 2013, 05:13 PM)
genting

big or small

double or nothing
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Yup, don't have to wait 20 donkey years to get the returns
roystevenung
post Nov 20 2013, 06:05 PM

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QUOTE(seiluen @ Nov 20 2013, 05:19 PM)
Suicide payable ?
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It is payable but after one year of the policy is in force. If it is within one year, the insurer will only pay the accumulated cash values in the policy and refund the premium to the beneficiary.

QUOTE(silkysilk @ Nov 20 2013, 05:22 PM)
how is business in general comparing to last yr? better or worse? i heard business is bad comparing to last yr.
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Target for this year is to achieve RM1.15B sales., still early to tell now. thumbup.gif

Gambateh!
roystevenung
post Nov 20 2013, 06:17 PM

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QUOTE(dblstandardsux @ Nov 20 2013, 06:06 PM)
Insurance is NOT an investment!
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That is what I said what, jangan marah bos icon_rolleyes.gif
roystevenung
post Nov 20 2013, 06:48 PM

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QUOTE(quikstep @ Nov 20 2013, 06:31 PM)
insurance for INVESTMENT.

That alone spells trouble.
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user posted image
roystevenung
post Nov 20 2013, 09:56 PM

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QUOTE(kelvinlym @ Nov 20 2013, 07:48 PM)
Insure against risks you cannot afford to happen, such as the loss of your ability to earn an income.

For investment, do it yourself.  Never mix with insurance because they do not mix.  Nothing is free in this world and everything must have a price.

Not wanting to brag, but I just spend less than 30 mins a week reading up on finance and economics, and my investments are performing way better than any managed funds or savings plans in the market.  There are many advantages to doing your own research.  At the end of the day, you are smarter and you learn through the mistakes.

Think about it, is your 30 mins per week worth more than the fees you are paying to the agent, insurer and the fund manager?
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Yup well said my friend, well said
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roystevenung
post Nov 20 2013, 10:03 PM

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QUOTE(quikstep @ Nov 20 2013, 09:56 PM)
seriously, my exgf father damn tulan for buying investment linked products. money better in epf.

at least i dunno any success story. pls correct me if wrong.
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Even if the plan is called ILP it is not for investment la ... doh.gif

With riders that consumes insurance charges like medical, life, CI, accidents cover, disability/ci income added to the plan, how can it be called for investment?

Go read my blog if you want to learn about insurance... tongue.gif
roystevenung
post Nov 20 2013, 10:12 PM

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QUOTE(jay @ Nov 20 2013, 07:05 PM)
y now most of the insurance in malaysia is term life insurance? dun hv whole life insurance one meh??
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Whole life still got bro, it depends on clients needs and mostly age. For younger clients most agents prefer to give ILP because it has the flexibility to be upgraded (provided healthy).

For example if a single person who just started work just need a basic insurance with medical, he surely cannot afford to pay much. Also a single person does not have responsibility likeus parents has to a newborn child.

Giving a single person Rm1m cover is kind of ridiculous, unless he is rich and afford it. But if he is rich and can afford it, why does he need insurance, as he can afford to pay for whatever that comes to him? Fikir2kan thumbup.gif

For whole life, it is not that easy to be upgraded as there is a lot of restrictions. For example the cash calue allocation will need to be resetted etc
roystevenung
post Nov 20 2013, 10:13 PM

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QUOTE(endau02 @ Nov 20 2013, 10:00 PM)
damn honest wei.

alot of agent will kill u... though ayam not an agent
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Then ayam have to buy more insurance liau laugh.gif
roystevenung
post Nov 20 2013, 11:46 PM

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QUOTE(GloryKnight @ Nov 20 2013, 10:47 PM)
How about retirement plans that does not have any insurance coverage that goes along with it? You can only take it out after 10 or 20 years, ensure a decent return.

Thats the point of going for those so that one does not take out money just becoz its human nature that we want to spend it. So it works like another alternative to epf. Pls advise!!
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If the plans are from insurance company, surely there is insurance elements involve, although it may be minimal cover. Insurance company are not authorised to sell pure savings plans, otherwise it may clash with mutual funds like Public Mutual.

AFAIK, there is no pay 10 years, withdraw and still get decent returns. Reason being agent commission, admin fee, insurance charges, bla2 already eat into the capital for 6 years (or lesser) hence it needs more time for the funds to grow.

For a 20 year, chances are it only break even. Keyword: BREAK EVEN whistling.gif

Lets not forget inflation, whereby Rm100k now is not the value of RM100k, 20 years later wink.gif

Most people who do the PRS for retirement savings do it to get tax exemption of Rm3k as announce in 2012 Budget... icon_idea.gif

This post has been edited by roystevenung: Nov 20 2013, 11:47 PM
roystevenung
post Nov 20 2013, 11:49 PM

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QUOTE(darosha @ Nov 20 2013, 10:18 PM)
insurance...

student: insurans tu apa cikgu?
teacher: insurans tu bagus. kalau kamu mati, kamu dapat duit
student: ???!!!???

simpan di bank, bila2 boleh keluar, cepat
simpan di insurans, bila sakit perlu duit, mau claim pun susah, lambat, kadang2 langsung tak dapat.
ada medical card pun tarak guna, normal uncomplicated delivery masuk hospital pun takbleh claim, jadi yg dah terpergi private hospital utk delivery mau claim pergi mampus la

then ada agent yg gila prihatin, orang masuk hospital mau mati tengah cpr pun datang mau urus claim, tapi medical record by right cuma boleh keluar after 2 weeks, masa tu pun masih confidential, so datang pun tak guna, lepas 2 minggu baru boleh claim, lulus tak lulus belum cakap lagi.

orang duit banyak tak kesah la bayar itu ini, bil itu bil ini, bayar insurans.
sebijik macam bulan2 guna duit beli loteri. bila kena loteri (ada mati ka, sakit ka) kamu dapat duit
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Uncomplicated delivery? You mean pregnancy?
roystevenung
post Nov 21 2013, 01:08 AM

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QUOTE(GloryKnight @ Nov 21 2013, 12:35 AM)
So do you think going for PRS for the next 10 years is a good idea? Alternative EPF, 3k tax exemption, at worse-lose money, at best- 16% gain according to the latest results.
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If you do it solely for the returns, then no, but if you do it for tax reduction, yes :-)
roystevenung
post Nov 21 2013, 09:09 AM

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QUOTE(darosha @ Nov 21 2013, 04:25 AM)
Sudah gaharu cendana pula, sudah tahu bertanya pula  whistling.gif
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No, I don't know, cos if done the proposal correctly during inception, there is no reason whatsoever for the declination. This is why I intend to find out. Please do not simply discredit our work because of a few agents who is only out for the commission.

This is why I am asking why you had problems with the claims and should you need help with the claims, do let me know and I will guide you. I will even help you do the claim if you are a Prudential client.

Secondly the claims are paid from the insurance company to the hospital directly.
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