Ya, use the IRR calculator to estimate the cash inflow and outflow (add in the additional compound interest), then you can compare whether the plan suits you

You have already made investment in shares, commodity, properties. You already have some higher risk stuff in your portfolio. If I were you, I will put in FD/bonds for saver investment to balance the risk

Because this type of investment tie you in for years. It is not as flexible as FD or bond funds.

But at the end of the day, it is your pick.

Hmm... I'm currently balancing commodities (main portion), a sprinkling of shares (only blue chips/low risk dividen stuff), and properties (long term not flipper).

Ofcourse part of the $$ would be in FD, for emergency, THIS is the part of the money that is not working...

at least the emergency funds is in FD (it's working, of course works lesser than whatever other investment you have). oh and btw, the excel table is created by you or your agent? i will say that best is to refer to the projected figure table from the official plan presentation.

TS, 812k "was your calculation" and not the amount she told you right? Yes, she can say bonus and dividend is guaranteed but confirmed the surrender value on 9th year is not RM812k, get her to show it to you in black and white (official quotation).

Yes, on the 9th year you can withdraw but confirm you won't get RM812k. Ask her.

At best you can only get back your principal on 9th year provided you don't take out the bonus and dividend.

Point noted, pretty sure it was implied I can take everything out by 9th year. But its a good idea to ask point blank

This post has been edited by MeToo: Sep 7 2016, 11:19 PM

yes...thats y refer to the table provided in the official quotation/plan presentation

yes can take everything out after 9th year completion, question is what is the amount? supposedly agent should show you the projected figure

Yes, the "everything" means the "Surrender Value" of the policy, and it won't be RM812k.

Hope this info helps you to ask the right questions to the agent.

This post has been edited by weissPC: Sep 7 2016, 11:26 PM

Was hopping this would be the 2nd layer after my FD/Emergency fund. Not going to dump 100k la.. probably 40/50 annual more than sufficient..

i agree with weissPC. since MeToo only need to commit to save 6 years (principal of 600k), highly likely by the 7th year, if surrender the plan and take everything, the value will be slightly more than breaking even only, if will like to take out on the 9th year, i guess it will be around 720k or so... (if my calculation is correct)

hope bro MeToo can tell us more after asking the agent more details and after getting the plan quotation

Why do you even need to ask whether have to ask point blank?

What about the points you forgot to ask?

I'm pretty sure you misread the post.

Nope.

Just put your emergency funds into FD, instead of introducing it into a pointless thread.

Like HLA is good or not? Everyone have already told you it's not good, so what the heck are you trying to prove?

Bro @ckdenion, your assumption that 7th year will get slightly above break-even is unlikely to be accurate because a portion of the premium paid will be used to pay for agent's commission, the boss's overriding, HLA's expenses and profits, etc. The policy holder will be having negative returns if they decide to surrender less than 10 years into the plan.

Knowing HLA's endowment plans, if you decide to take the bonus and dividend out yearly, at maturity, you'll get less than what you saved. Part of the principal amount is also included in the so called bonus and dividend.

The best possible return will usually happen at maturity when you keep the bonus and dividend with the insurer.

It's not that HLA is not good, if it's not good Bank Negara won't allow it to be sold.

It's just that this endowment plan (a type of long term and forced savings plan) is being misrepresented by the agent or misunderstood by TS as a high-return, short term savings or investment.

Gee... your assumptions is kinda getting out of hand, for awhile there I thougth it was /k

When did I ask if HLA is good or not, its the plan not the company.

I dont recall everyone telling me its "bad". I saw points/suggestion/clarification, perhaps you should look beyond your negative self?

Edit : Oh if you think its a pointless thread, then arent you being pointless to continue posting here?

This post has been edited by MeToo: Sep 7 2016, 11:52 PM

Endowment are meant for long term savings for your retirement / children education whereby you've set aside an amount for it to grow steadily without high risk of losing the money.

It's not your skim cepat kaya as portrayed by insurance agents.

Well 9 years aint exactly skim cepat kaya la...

And yes, the way she sells it was like hitting the lotto.... hence why i took some of the points to sit down and look thru it..

Anyway, its good to look thru everythign that's not instantly a ponzi...

We shouldnt be totally biased like some ppl who thinks "HLA must be crap crap crap"

This thread is about the plan, so, yes, I'm referring to the plan. No, no one actually said it's bad, yes.

Assuming you are not an agent in disguise, this is my point -- what people have been questioning is what guarantees are there, and with the restrictions, do you end up better than FD?

I can't conclude for you of course, but I am pointing out the points for other readers. You, you do what you like with your money, thanks.

Yes, it is crap.

What have you posted in this thread that provides evidence that's it's not?

that's basically just my assumption, since the payment term mentioned by MeToo is 6 years, it is very good enough to breakeven at 7th or 8th year. Anyway, like what I said I'm just assuming. same like what you suggest, i think we can only give ideas only after we saw the official plan presentation quote from the agent