This is foolish.
The agent that sells you this, will use any trick he can think of/ sell you any confidence or assurance (after all, thats what people want to hear in conjunction with their greed).

he will use friendship as a way to get in. then give u assurance that it will definitely make you a lot of money or whatever.

So, when your greed + confidence in him is strong enough. you bought it.
this is all sentimental decision.
Wanna know the facts?
Here they are, the inconvenience truth:
a. The uncertainty - Your Gain on your investment
whatever they say you will gain (it is not certain) and what data/statistic he shows you is definitely biased. After all, its the investment into the future we are predicting. The sure thing is, its definitely going to be lower than what he shows. It all depends on the fund manager's and the bank's decision and the future development of what they invested in.

b. The certainty
Your friend will definitely get a cut of your investment as commission. Mind you, this is a 100% gonna happen. And god knows how many % of your investment is going be end up in the sales team hierarchy pocket. Well, from your statement, probably not lower than 35% goes into their pocket.

c. Yea, Right?
If everything is as good and as firm as what they say. Why don't they put any minimal investment return/ dividend on the Terms and Condition? They sell you all the sweet talk, in the end what puts in writing/agreement is the protection towards themselves.

You want to get back 100%? Do you think the entire team is going to give you back what they have as commissions? Think logically, if the bank is gonna pay you back, that means the bank gonna have to collect back from whoever that got the commission (might not be even working in the bank anymore), which is highly unlikely. They don't have to worry anyway, since you already signed the terms and condition. Read it through and get through your denial phase.

If you think you have the discipline, and able to put that money to good use in the future. you don't really need this thing...
This kind of saving package/ investment scheme, is suitable for people who has no responsibility and self control in their lives.
See, its a win win situation.
We force you to save, and you give us some as commission.

In fact, if you have good discipline, you don't even need all sorts of fancy insurance packages...

I cant believe this topic is still going...
Cutepet,

Filing for dispute: (What David83 says)
- take into account, is the cost worth it?
- do you have any prove of being misled by your friend?
- consult and know the charges, see if the risk of spending more money/time is worth the money.

Or

Take back whatever remains of your investment since:
- there is no guarantee putting your money for another fives years or so will give you more gain
- the whole idea of all this financial products are to convince you to not withdraw your money, so that the financial firm can use this capital for their investment and their own gain.

What I suggest, if you are a sucker at saving money/doing anything productive with your money (lack of self discipline). you can continue to use this as a tool to force yourself to save.
Otherwise, swallow the 35% losses and take this as a lesson.
Here's something optimistic, in life we make mistakes, people who are knowledgeable and wise are people who has made a lot of mistake in the past. We learn from mistakes. Just, Dont make silly mistake.
Cheer up, you made mistake, and its not a silly one.

Nice choice of wording there...
Let me tell you something REAL LOGICAL. Insurance is sold to buyer as a protection. Insurance from seller prospective is to earn money. All the odds are absolutely factored into the plan, how much you pay, how much you get as compensation in return.

"Just because something isn't a lie does not mean that it isn't deceptive. A liar knows that he is a liar, but one who speaks mere portions of truth in order to deceive is a craftsman of destruction."
-- Criss Jami

In all financial products, basically you have to sell them in such the way mentioned above. or else you will eat bread everyday... Wait? Why do you join insurance anyway? The risk of losing 80% of your friend/relatives/families.... Wait... Ya... Right... that make sense now.

And btw i totally agree with roystevenung.

Professional insurance agent.... huh... Anyhow, this debate is pointless... There is always good apple and bad apple. But majority is bad apple, down to the very fundamental idea of surviving. "everyone for themselves". O, wait? what is bad and good anyway?
Speaking of professionals, How do you justify you providing customer's needs & wants to what you gain? Of course there isn't even one standard metric of measurement to that. Pros and cons... policies.... What to argue about if it doesn't exist. An expert in any field can choose to present ideas whichever bias way they want to.

Damned if you do, damned if you don't.

But back to the topic,
I would suggest cutepet to withdraw whatever remain, if he/she can find a better use of the money provided that he/she has good self discipline. Otherwise, use it as force-saving. And you really should get over the idea of "I promise won't make this mistake again, please give me back all my money" thingy. 4 pages, and you still couldn't get to the acceptance phase. Mind you, non of us is going to share how embarrassed we are at learning our lessons in life, just to make you feel good that the amount you loss for the lesson is not really that damaging.

So you bought insurance, can you explain to me up to this moment, how much you gained from them? I don't know, money? safety? whatever it is?

I didn't buy 1, and when i broke three of my metatarsals from extreme sports, I went for surgery and stay in government hospital. Ended up total charges not more than rm150.
Do you know how much the government spend on healthcare annually? And lets not go into debating how paying premium insurance is more worth it and private hospital bla bla bla...
Because at the end of the day, the charges go back to you, in the form of...... insurance....
Insurance & Priv hospital have their own arrangement, do simply logic, if insurance company gain, and private hospital gain. In the end, who losses?
Take for instance, if I am to go into private hospital for that surgery, The bill will comes out like god know's RM 5k? RM 7k? I don't know... But I don't have to pay a dime for it because my insurance covers it all.
But of course there are times when these insurance plan are really helpful too. like maybe when the government healthcare services are so crowded and bad (and slow LOL). Private hospitals are more comfortable.

All in all, you should only pay for what you can afford, don't get yourself misled into premium plans that you couldn't afford, in the end who's the one who gets hurt?

I go for body check-up, decent diet, regular exercises, I would rather invest into my well-being than pay up all these insurance premium and wait for the "Big Finish" because I am too lazy to really Take Care of Myself.


But this topic is about what income-builder scheme, which is more to investment, not insurance. Lets stay there.

It is good to have views on both sides. You should take note on both side of suggestions, and then make the decision which you are comfortable with (which suits your style/personality in the way you manage your money). Good luck.

Why I got dragged back into a conversation thats so long time ago??? Please check my reply date nx time before bashing me.

Btw, all your replies shows your very very pro-insurances stance.
You are probably an agent yourself.

and the way you try to twist the facts of cheating into something else. says it all.

Hei, there is a saying "When you are doing something long enough, you see everything in it". deep in yourself you know you are trying to hide the things that stops you from closing the deal.

I dont even want to get back into this topic.
I have a real close friend who got into "District Manager" pos in insurance selling, he is now 40+ ages. Save your bullshits. Its just a "money game" thats the exact word he told me, especially those financial/investment products, such as whats this topic was originally about:
"INCOME BUILDER scheme"

And people who stopped replying for 3months plus, dont really want to get back into the same conversation. You are not very perceptive, which is probably why you only see the "GOOD" side of the crap you are selling. But watever, leave me out of it.