Welcome Guest ( Log In | Register )

3 Pages  1 2 3 >Bottom

Outline · [ Standard ] · Linear+

 HLA EVERGAIN PLUS, What do you think .. !!

views
     
TSsuns8630
post Feb 24 2016, 12:30 PM, updated 9y ago

Regular
******
Senior Member
1,104 posts

Joined: Jan 2003
From: Kuala Lumpur


Hello ,

I was introduced by a banca staffs at Hong leong bank ..

Sounds good ,, but I wonder others is offering the similar product ..


Pay 10 K ringgit per year for continue 6 years = 60.0000.00

Returns will be good after 10 years ... Not advice for short time investment ...

Including riders of total permanent disable. And Old age disable ...


PleAse refer photo attached photo .


Please comment comment and advice




Attached thumbnail(s)
Attached Image Attached Image
T231H
post Feb 24 2016, 12:35 PM

Look at all my stars!!
*******
Senior Member
5,143 posts

Joined: Jan 2015
once in a while something similar like this pop up in this forum.
while waiting for others to comments..
try read this....hope it helps
i think it is "almost similar"

HLA Cash Promise, What's All The Fuss About?
http://invest-made-easy.blogspot.my/2013/1...fuss-about.html

"Returns will be good after 10 years ... Not advice for short time investment ..."
Please provide the IRR......

This post has been edited by T231H: Feb 24 2016, 12:36 PM
ZZMsia
post Feb 24 2016, 01:13 PM

Look at all my stars!!
*******
Senior Member
3,303 posts

Joined: Jan 2013
QUOTE(suns8630 @ Feb 24 2016, 12:30 AM)
Hello ,

I was introduced by a  banca staffs at Hong leong bank ..

Sounds good ,, but I wonder others is offering the similar product ..
Pay 10 K ringgit per year for continue 6 years = 60.0000.00

Returns will be good after 10 years ... Not advice for short time investment ...

Including riders of total permanent disable. And Old age disable ...
PleAse refer photo attached photo .
Please comment comment  and advice
*
Better invest in EPF-becoz this one also you can't withdraw early etc..
Beware there are other threads here about the perils of annuity.
TSsuns8630
post Feb 24 2016, 01:14 PM

Regular
******
Senior Member
1,104 posts

Joined: Jan 2003
From: Kuala Lumpur


QUOTE(T231H @ Feb 24 2016, 12:35 PM)
once in a while something similar like this pop up in this forum.
while waiting for others to comments..
try read this....hope it helps
i think it is "almost similar"

HLA Cash Promise, What's All The Fuss About?
http://invest-made-easy.blogspot.my/2013/1...fuss-about.html

"Returns will be good after 10 years ... Not advice for short time investment ..."
Please provide the IRR......
*
Hello ..

Thank you very much for the reply ..

I will spend sometime to read the write up ..

I have no knowledge .. In investment ( long term ) .. This plan sounds logic and good to me .. Where I just need to set 60 k aside .. And let it grow .. ( long term )


My question is that other then Hong leong..is there others company offering the similar product ..


Thank you .
ZZMsia
post Feb 24 2016, 01:15 PM

Look at all my stars!!
*******
Senior Member
3,303 posts

Joined: Jan 2013
https://forum.lowyat.net/topic/3355857/+120

Refer this thread.

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...

** I have no problem saving money ... I save most of my incomee(>50%) into saving, house & investment.

cherroy
post Feb 24 2016, 01:23 PM

20k VIP Club
Group Icon
Staff
25,759 posts

Joined: Jan 2003
From: Penang


QUOTE(suns8630 @ Feb 24 2016, 12:30 PM)
Returns will be good after 10 years ... Not advice for short time investment ...

*
Put 60K and after 10 years, possible to get back with scenario
1. Bear, 62K
2. Flat, 73k
3. Bull, 87K

Even with the bull scenario, it is only 87K.
Mind that it is not guaranteed to be, if the market and economy condition is not favourable, the final outcome can become 62k as well.

60K become 62~87K based on projection (which is not guaranteed what number to be) after 10 years is considered a good return?
lifebalance
post Feb 24 2016, 01:32 PM

Licensed Financial Planner & Financial Adviser's Rep.
********
All Stars
10,029 posts

Joined: Nov 2014
QUOTE(suns8630 @ Feb 24 2016, 12:30 PM)
Hello ,

I was introduced by a  banca staffs at Hong leong bank ..

Sounds good ,, but I wonder others is offering the similar product ..
Pay 10 K ringgit per year for continue 6 years = 60.0000.00

Returns will be good after 10 years ... Not advice for short time investment ...

Including riders of total permanent disable. And Old age disable ...
PleAse refer photo attached photo .
Please comment comment  and advice
*
This kind of policy is an endowment plan where your money is invested and returns at about 4% effective rate

It's suitable if you have some money you would like to set aside for retirement or for your children in a safe mode of investment

If you're an investor yourself then 4% might not attract you.
TSsuns8630
post Feb 24 2016, 01:33 PM

Regular
******
Senior Member
1,104 posts

Joined: Jan 2003
From: Kuala Lumpur


QUOTE(cherroy @ Feb 24 2016, 01:23 PM)
Put 60K and after 10 years, possible to get back with scenario
1. Bear, 62K
2. Flat, 73k
3. Bull, 87K

Even with the bull scenario, it is only 87K.
Mind that it is not guaranteed to be, if the market and economy condition is not favourable, the final outcome can become 62k as well.

60K become 62~87K based on projection (which is not guaranteed what number to be) after 10 years is considered a good return?
*
Hello ,

Thank you very much for the reply ..

Yaaaah .. The gain of 10 years over bull and bear does not sounds right ,

But I do look at the riders benefit .. Which is include of this plan ...


lifebalance
post Feb 24 2016, 01:43 PM

Licensed Financial Planner & Financial Adviser's Rep.
********
All Stars
10,029 posts

Joined: Nov 2014
QUOTE(suns8630 @ Feb 24 2016, 01:33 PM)
Hello ,

Thank you very much  for the reply ..

Yaaaah .. The gain of 10 years over bull and bear does not sounds right ,

But I do look at the riders benefit .. Which is include of this plan ...
*
You will only see the returns more when your plan is abit 15 to 20 years above

First 10 year return is not worth looking at

Which is why this is a long term plan
[Ancient]-XinG-
post Feb 24 2016, 01:59 PM

20k VIP club
*******
Senior Member
5,725 posts

Joined: Jan 2012
No no and no. Just no.

The reason behind is that do not buy this thing so call projection projection cash cash thing.

IRR rate how?

Benchmark against who?

Rate targeted how much?

Lock up period long?

If want withdraw penalty how?
xuzen
post Feb 24 2016, 02:51 PM

Look at all my stars!!
*******
Senior Member
4,436 posts

Joined: Oct 2008


Those who know me knows that I use to have negative things to say about this type of saving plan product. However, for this post, I will write conversely, to give a balanced view. For this post I will talk about why to buy these type of product and who benefit from it most:

I) Saving Plan / Annuity or whatever you call it is basically you pay a certain fixed amount for a fixed period of time and in exchange the product provider will promise to pay you regular cash flow for a specific time period or until you die, depending on the product feature.

II) The IRR is usually low compared to pure investment products such as UT / Bond or stock market. It is usually in the range of OPR + 1.5%. If you see this as a tool for wealth creation... look elsewhere.

III) IMO, such a product is a good tool for wealth preservation / distribution.

IV) Firstly I say wealth preservation, meaning this product is good for people who already made enough money elsewhere be it from business or high income salary where they do not want to take anymore excessive risk. Such a product with its fixed income feature will be attractive to these people. If you are a just a regular salary man and you need to create wealth for, say retirement, then this product is too conservative for that purpose.

V) As a wealth distributor: This tool is very good for distribution purpose to your next of kin because this tool comes under insurance product. This means that you can put your children or spouse as the nominee and should whatever sh1t happens to you, the creditors cannot touch this portion of money. It is a social safety net. As the income is periodic and fixed, it is a great tool to pass wealth in a responsible manner to the next generation who may be financially frivolous.

For the people who are interested in point IV) & V) , they usually do not mind the low IRR as they have already achieve the desired wealth. They are now looking for wealth preservation and distribution.

OK, now.. you HLA agents out there, go and sell this product using my points discussed and stop disturbing regular salary men and women who are yet to build their fortune. Go and disturb those rich uncle, makciks, aunties and tycoons.

Xuzen

This post has been edited by xuzen: Feb 24 2016, 02:54 PM
TSsuns8630
post Feb 24 2016, 04:22 PM

Regular
******
Senior Member
1,104 posts

Joined: Jan 2003
From: Kuala Lumpur


QUOTE(xuzen @ Feb 24 2016, 02:51 PM)
Those who know me knows that I use to have negative things to say about this type of saving plan product. However, for this post, I will write conversely, to give a balanced view. For this post I will talk about why to buy these type of product and who benefit from it most:

I) Saving Plan / Annuity or whatever you call it is basically you pay a certain fixed amount for a fixed period of time and in exchange the product provider will promise to pay you regular cash flow for a specific time period or until you die, depending on the product feature.

II) The IRR is usually low compared to pure investment products such as UT / Bond or stock market. It is usually in the range of OPR + 1.5%. If you see this as a tool for wealth creation... look elsewhere.

III) IMO, such a product is a good tool for wealth preservation / distribution.

IV) Firstly I say wealth preservation, meaning this product is good for people who already made enough money elsewhere be it from business or high income salary where they do not want to take anymore excessive risk. Such a product with its fixed income feature will be attractive to these people. If you are a just a regular salary man and you need to create wealth for, say retirement, then this product is too conservative for that purpose.

V) As a wealth distributor: This tool is very good for distribution purpose to your next of kin because this tool comes under insurance product. This means that you can put your children or spouse as the nominee and should whatever sh1t happens to you, the creditors cannot touch this portion of money. It is a social safety net. As the income is periodic and fixed, it is a great tool to pass wealth in a responsible manner to the next generation who may be financially frivolous.

For the people who are interested in point IV) & V) , they usually do not mind the low IRR as they have already achieve the desired wealth. They are now looking for wealth preservation and distribution.

OK, now.. you HLA agents out there, go and sell this product using my points discussed and stop disturbing regular salary men and women who are yet to build their fortune. Go and disturb those rich uncle, makciks, aunties and tycoons.

Xuzen
*
Hello ..


Thank you very much XUZEN .. your reply is most helpful in my case ..

I am not rich uncle or tycoon ..

but your pointers of i , ii ,iii ,iv ..and v .. served to my needs ..

thank you once again .. cheers

This post has been edited by suns8630: Feb 24 2016, 04:22 PM
adele123
post Feb 24 2016, 04:53 PM

Look at all my stars!!
*******
Senior Member
4,413 posts

Joined: Jul 2013


My advice, if you main main purpose is investment no. i'll explain later when i have more time. as for the points given by xuzen, i agree, BUT doesn't apply to HLA Evergain Plus. i'll explain later

back to the point given by Cherroy:
you pay 60k you get back 87k... - actually in reality the projection is lower. your agent told you pay 10k for 6 years. but to be honest, the 87k is assuming you pay premium for 20 years. so in fact the projection is flawed if you said pay 10k for 6 years only. (how i know, cause i know how those illustration works, so 87k is not even the amount you get if you pay 6 years)

At the end of the day, can you at least answer one question... what is your purpose of setting away this 10k every year? has this achieve your purpose?



TSsuns8630
post Feb 24 2016, 05:00 PM

Regular
******
Senior Member
1,104 posts

Joined: Jan 2003
From: Kuala Lumpur


QUOTE(adele123 @ Feb 24 2016, 04:53 PM)
My advice, if you main main purpose is investment no. i'll explain later when i have more time. as for the points given by xuzen, i agree, BUT doesn't apply to HLA Evergain Plus. i'll explain later

back to the point given by Cherroy:
you pay 60k you get back 87k... - actually in reality the projection is lower. your agent told you pay 10k for 6 years. but to be honest, the 87k is assuming you pay premium for 20 years. so in fact the projection is flawed if you said pay 10k for 6 years only. (how i know, cause i know how those illustration works, so 87k is not even the amount you get if you pay 6 years)

At the end of the day, can you at least answer one question... what is your purpose of setting away this 10k every year? has this achieve your purpose?
*
Thank you Adele123 for reply posting

Do you have a better remmendation other then HLA EVERGAIN ..

Please refer to the chart photo .. It is clearly show .. Only payup by six years .. Then let it invest on long terms ..

This post has been edited by suns8630: Feb 24 2016, 05:01 PM
adele123
post Feb 24 2016, 06:48 PM

Look at all my stars!!
*******
Senior Member
4,413 posts

Joined: Jul 2013


QUOTE(suns8630 @ Feb 24 2016, 05:00 PM)
Thank you Adele123 for reply posting

Do you have a better remmendation other then HLA  EVERGAIN ..

Please refer to the chart photo .. It is clearly show .. Only payup by six years .. Then let it invest on long terms ..
*
Your snapshot of the photo DOES NOT indicate pay how long. only states at what year you get what amount

Please refer to page 1 of your entire document. it should look like something i have posted here. Trust me.

Attached Image

BACK to the question... what do you want? you ask for recommendation but recommend you for what?

NOW THE LONG STORY, this is an insurance plan, investment-linked. Means essentially it works the same as normal unit trust except that every month, the insurance company will deduct some money from your investment to pay for insurance charges.

Can it work as a savings? Sure it can, but like any investment fund/unit trust, nothing is guaranteed, except that they do pay the sum assured upon death.

QUOTE(suns8630 @ Feb 24 2016, 01:14 PM)
I have no knowledge .. In investment ( long term ) .. This plan sounds logic and good to me .. Where I just need to set 60 k aside .. And let it grow .. ( long term )
My question is  that other then Hong leong..is there others  company offering the similar product ..
Thank you .
*
Just to explain to you... if your purpose is... put money aside, and let it grow long term, then let me tell you this, there are plenty of things you can do with your money. Sometimes mau jadi orang baik, come to forum, spend 20 minutes of my time to reply, but you can't tell me what do you really want?

if you really just want investment, then you should go for pure investment product like unit trust. if you are looking for insurance product to cover you LONG TERM, this is also not the right product.

This post has been edited by adele123: Feb 24 2016, 06:59 PM
adele123
post Feb 24 2016, 06:50 PM

Look at all my stars!!
*******
Senior Member
4,413 posts

Joined: Jul 2013


QUOTE(xuzen @ Feb 24 2016, 02:51 PM)
» Click to show Spoiler - click again to hide... «

Xuzen
*
Actually this HLA EverGain Plus is an investment-linked insurance policy. Hence the point I) and II) doesn't apply in this case. not that i disagree, just wrong situation.
TSsuns8630
post Feb 24 2016, 07:01 PM

Regular
******
Senior Member
1,104 posts

Joined: Jan 2003
From: Kuala Lumpur


QUOTE(adele123 @ Feb 24 2016, 06:50 PM)
Actually this HLA EverGain Plus is an investment-linked insurance policy. Hence the point I) and II) doesn't apply in this case. not that i disagree, just wrong situation.
*
Hi adele123 ..

I had clearly stated that pay six years .. On the opening of my posting ..


I am asking your recommendation .. Bcos you seems like wanting to compare this EVERGAIN plus .. With other similar product ..


What I want you to recommend is a similar product .. For me to compare the pro and con ..

Thanks cheers
adele123
post Feb 24 2016, 07:29 PM

Look at all my stars!!
*******
Senior Member
4,413 posts

Joined: Jul 2013


QUOTE(suns8630 @ Feb 24 2016, 07:01 PM)
Hi adele123 ..

I had clearly stated that pay six years .. On the opening of my posting ..
I am asking your recommendation .. Bcos you seems like wanting to compare this EVERGAIN plus .. With other similar product ..
What I want you to recommend is a  similar product .. For me to compare the pro and con ..

Thanks cheers
*
actually hor, you customer or agent? feels a bit fishy now.

HLA EverGain Plus is designed to be a policy whereby you pay 20 years or 25 years. because the coverage is 20 years or 25 years.

SO, when you said 6 years... 6 years is an option offered by HLA to reduce the premium payment term. BUT by choosing the options, the coverage enjoyed by the customer is lesser.

YES, you have clearly stated 6 years. i'm trying to help you by letting you know that what you see is NOT what you get if you pay for 6 years only. WHAT you see is provided you keep paying even after 6 years.

similar product? any other insurance company out there can offer a similar product. it's just an investment-linked insurance product. compare pros and cons, other companies might be slightly cheaper, project that you get more money after 20 years.


TSsuns8630
post Feb 24 2016, 07:41 PM

Regular
******
Senior Member
1,104 posts

Joined: Jan 2003
From: Kuala Lumpur


QUOTE(adele123 @ Feb 24 2016, 07:29 PM)
actually hor, you customer or agent? feels a bit fishy now.

HLA EverGain Plus is designed to be a policy whereby you pay 20 years or 25 years. because the coverage is 20 years or 25 years.

SO, when you said 6 years... 6 years is an option offered by HLA to reduce the premium payment term. BUT by choosing the options, the coverage enjoyed by the customer is lesser.

YES, you have clearly stated 6 years. i'm trying to help you by letting you know that what you see is NOT what you get if you pay for 6 years only. WHAT you see is provided you keep paying even after 6 years.

similar product? any other insurance company out there can offer a similar product. it's just an investment-linked insurance product. compare pros and cons, other companies might be slightly cheaper, project that you get more money after 20 years.
*
Thank you very much for your advice adele123

Tomorrow I am going to fire ( question ) the banca staffs at Hong leong branch ...

To see that as whether you are right or the banca staffs is right ..


Thank you once again In posting on this topic ..


cherroy
post Feb 24 2016, 09:23 PM

20k VIP Club
Group Icon
Staff
25,759 posts

Joined: Jan 2003
From: Penang


QUOTE(suns8630 @ Feb 24 2016, 05:00 PM)
Thank you Adele123 for reply posting

Do you have a better remmendation other then HLA  EVERGAIN ..

Please refer to the chart photo .. It is clearly show .. Only payup by six years .. Then let it invest on long terms ..
*
Pay up six year or not actually is not a main point of consideration at all.

Six year big sum
vs
smaller sum every year for 20 years.

The latter may have more advantage if look from cashflow perspective.


3 Pages  1 2 3 >Top
 

Change to:
| Lo-Fi Version
0.0238sec    0.09    6 queries    GZIP Disabled
Time is now: 29th March 2024 - 05:27 AM