u should terminate in grace period... I know it's your friend deal, but when comes to money matter u should do the best thing for yourself..

Anyway better to continue now, because u already paid for 3year.. I don't think consumer court can help

yup, u can claim Income Tax..

"I can get a FEW HUNDREND THOUSAND at the age of 92"?    I dun understand

go bank negara complain, say agent misell, you might get a full refund, anyway its 3 years already I am not sure whether it works or not. For what I know, somebody do that before the 2nd year payment and got their money back

Adoi....forced saving is better than no saving. I tell you, if I don't have insurance and all the other stuff from Pru, GE, etc....I have money in hand....then I go spend buying car la, bike la, laptop la....better they take from my account annually.

6K per annum is quite small leh...just stick with it.

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.

not change plan, reduce sum assured. you are allowed to do it. but check the calculations. but this is better than total loss.

Change of plan, yes only allowed for first year. What you are doing, is NOT change of plan. This is called reduce sum assured.

Change of plan means change different product. I already said it's NOT change of plan.

Total Money Paid 3 x RM6000 = RM18000

Value of Investment NOW (woi -35% NEGATIVE) meaning == RM18000 x 65% = RM11700

Next year 215 throw another RM6000 into sea

Value of Investment 2015 (woi -45% NEGATIVE) meaning == RM24000 x 55% = RM13200

TS cannot be Future Millionaire sure GOT Ghost

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? 😁

Harsh but true    

To be honest, if you friend did not give false information or blank promise on how this plan works, then I don't see any reason why should HLB entertain such silly request.

I am sure you will break a laughter at their office when they read:"Dear Sir, I buy this bloody thing because of my friend. I am so stupiak I don't know what the hell is this and I bought. Now my friend is no longer working for you, can I withdraw and you please give me a full refund despite the policy has stated the otherwise and I already agreed and signed on the paper."

1 word. Mempersiasuikan.