Recently someone claim she's from OCBC group offering me a EPF for director scheme. When I look at the plan, I found out that's already from Great Eastern and it sound almost like an insurance plan. The only different is that, I can deposit and withdraw money like a flexi loan.

May I know does anyone heard of a plan like that?

Say after I sign up with GE for an investment link and one week later regret my decision, can I cancel the plan? If I cancel the plan, is there any penalty fine? If there is, may I know how much is it?

Thank you unker for the clarification


Currently I have enough protection. Just that couple weeks ago I was approach by an agent with misleading information. I was told it was an EPF saving and she's reluctant to provide me with the proper sell sheet to read through until today when the doctor conducting the interview I took a peek at the policy number and call up the hotline and I was told it is an investment link policy, which is not what I wanted in the first place.

Also, I would like to know does GE having a rules whereby if one's protection exceed a million, they will need the person to declare their asset?

Okay, thank you for the clarification.
I think the agent seem bit desperate for the sales.
She ask whether I'm holding property, collecting rental, etc. I told her I have none of those.
She then said chances of getting the case approve is low because I have non of those and ask is it alright she just tell the GE company that I have some.
I thought, isn't it cheating?

I have enough protection. My mom is an agent before she retire and I have commit enough insurance with her before she retire.

Just that couple weeks back I was approach by this agent who claim that she is from the EPF division under OCBC group, offering and alternative plan for company director. She does provide a side by side comparison between the financial return between her plan and what's currency offering by the EPF. Base on what's given, her plan could provide a projected yearly return of around 15% on average for past few years and on top of that, whoever sign up the plan will be given life protection of up to a certain limit. She also claim that this plan is only open for company director and also only their team is allow to sell/market this plan.
Only until yesterday I discovered what I really signing up for is not any EPF product but an investment link by GE.