Hi.. I also bought the exactly same plan that u had. HLA income builder.

Actually besides complaint n surrender. You may reduce the plan to the minimum amount with the guaranteed yearly income of rm500. This plan actually have 6 years, 9 years & 12 years.

The agent sell to u 9 years plan just to earn higher commission. You can actually reduce the premium lower instead of paying 6k a year and also change the term from 9yrs to 6yrs. the premium can be reduce to roughly 2k - 3k according to you age.

Actually this plan is good for retirement because you're just paying/saving for 6yrs/ 9yrs/ 12yrs but the guaranteed interest payable to us up to age 90. But of cos we will not wait until age 90. You may withdraw the interest like maybe 5 years once or 10 years once or maybe when in future for any emergency use.

Since you have save for 3 years d. Not worth it if you cancel now.

The latest plan they had is minimum 6k. Paying / saving for 6yrs but interest only payable up to 25 years only.

The best way, I think you reduce the premium or change the term to 6 years if u felt 9 years was too long for u.

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Yes you can reduce to yearly income of rm500(minimum). So that your premium will be lesser d.

What u need to do is, told the customer service that u wish to reduce the sum assured and they will let u sign a request change form to do so. One of my fren did this too.

For me, this is better than surrender and u lost your money and den go for other investment and few years later again u withdraw your investment/ saving. Ended up , didn't save anything but lost even more.

You get what I mean? 😁

Actually nothing much to complaint. Because u did receive the policy contract. And at the moment, u did cancel with the period for full refund. Just because of support your fren. Unless u got any prove. Else agent still will fight for their right. To me, I feel this plan is not bad la.. U may deeply consider about it. This type of plan is for long term. Include whatever saving. Unless those high risk investment or share.

You asked for minimum.. But the amount he given to you was actually not the minimum amount. And your fren should sell u the shortest plan with minimum amount since you're his/hers friend. At the view of mine, it is actually your friend trying to earn more commission from your plan that's why selling the 9 yrs plan to u. They earn higher commission compare between 6yrs and 9yrs plan. It was actually nothing wrong with the insurance company. It is the behavior and responsible for that agent. If u wish to make a complain, u should complain because the agent mis-selling as u ask for minimum premium. But not the insurance company.

This post has been edited by Girl99: Sep 25 2014, 04:38 AM