3 years ago, I bought HONG LEONG INCOME BUIDER from a friend. RM6K / year. with LOCK IN PERIOD of 9 years
After I bought a few days, I regretted but didn't plan to revoke (grace period) since it is a friend deal...

Recently, I received a letter stating my friend has quit.
I felt that I have no reason to continue such scheme,SUPER LOW INTEREST, LOCK UP CAPITAL. (My salary NOT HIGH..)

However, the surrender value is NEGATIVE -35% if I take the money NOW..

Any idea? I don't mind lost all the interest ? CONSUMER COURT ? whatever method...

Some people think it may be better to cut loss. this income builder is an INSURANCE 'savings' plan. For some, it might be better to cut-loss. the returns given is yes, under most scenario, is better than FD rate. I don't know if there's statistics, but probably over the long-run, it may be 100 to 200 basis point above FD, which is a lot when you compound it over the many years. Insurance companies have good (and also lousy) fund managers too so the return can be actually quite ok.

However, in most cases, your money gets locked up for VERY VERY VERY LONG. which is why i dislike it. for those really lousy at saving money, it may not be a bad tool to leave it for their next generation or next next generation.

cutepet

I have heard of HLA giving full refund after 1-2 years. Not necessary income builder, but other similar savings plan. After all, it's not that THEY don't know their AGENTS are MIS-SELLING.

think about it, what words did your agents tell you?
interest is it? insurance got no interest. 
savings? this is not savings account, it's insurance. 

But yes, complaining to bank Negara might help as well. But better have some proof and arguments to support as well. I don’t think BNM will simply entertain complaints without some backup. After all, they need to be fair to the insurance company as well. Can still be argued that one is ignorant.

ya... consider points given by the person before as well.