A HLA agent met up with me and she was pitching this Prime Wealth plan from HLA LINKY for more info.

Ofcourse it was not a 100% super honest presentation, I had to cut thru a lot of marketing gimmick to get to the nitty gritty.

Actually it doesnt look so bad... as long as you can withdraw the money out FAST and not leave it lingering for 30 years getting stupidly low returns.

She presented that the payment is only 6 years, by 9th years we can withdraw everything.

A quick calculation I did shows that the returns outstrip the FD for sure... but I wish to double check if I missed anything... if confimr can withdraw everything WITHOUT penalty by the 9th years.. I might go for it.... 40~50k forced savings per annum sounds decent..

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.

 

can I say something about this?

First thing first, the agent giving the piece of paper as u uploaded to show us is already a mistake. It can be terminated her code if u complaint to HLA HQ at pj city 0376501818. This is fxxking serious misleading issue.

Secondly, no doubt u all are very "kin yao" to calculate the return, ROI, irr, etc... But don't forget insurance is not investment. U just named it as insurance. That is no any above mentioned terms in insurance plan. But "surrender value" or cash value always the key of myth. (This is not ur fault, u will thinking in this way is because the presentation of the agent. And the material she give u. It's just a marketing tactic)

Insurance company can be insert fancy, fantastic, fabulous features. But end of the day. When u surrender the policy. Company will only pay u according to the surrender value. Of course it will be higher or lesser. It is depending to the performance of their invested fund.

When come to this. U can always have the alternative way to check where insurance company parking their fund. Which fund, what fund, through which assets management which channel. When u can do it yourself. Why u rely to the insurance company do it for u? And charge u a service fees, allocation fees, policy fees blablabla

U all at the previous 3 pages discussed about commodity, futures, options, stocks etc etc.. I believe u are alrdy expert to handle ur own money into market and speculate it.

If u want to diversify ur risk. U want a back up plan. Yes. U can go for this saving policy. If u still aggressive mode to Korek money. Go learn forex trading.

Remember insurance company origin business is to take care ur risk. Janji u will to pay the premium. They will take ur risk. But conclusion HLA prime wealth is a good saving plan among so many insurance company.

AiA have one more plan pay 5 years only. 3rd year break even. 5th year surrender alrdy making money. Pro rated like 3.++ % per annum. (Same to fd? But don't forgot the protection as well) banks FD don't give u protection.  No agent approach this plan because commission is only 3.9%

What a joke