just ask your parents, if they say no idea/not sure just declare 'no'.

This post has been edited by ckdenion: Feb 20 2019, 10:06 PM

Anyone heard about Maybank Smart wealth? Got a banker promote to me, but got no time to listen. Now wonder about in, google abit cant find it (wrong name?)
Any web where I can read that in details.

this?

Smart Wealth, Etiqa’s life insurance solution for Maybank’s high net worth and affluent individuals, ......

http://www.theedgemarkets.com/content/adve...ransfer-vehicle

basically it is a life insurance that gives you high amount of coverage starting from half a million.

Yeah read this, looking for the brochure type of thing, weird that not in any of maybank or etiqa web

Banker mention about investment linked things also, so I’m curious to know more.
Will go back and ask la if got time if no one here got details

Just declare what is known to your knowledge. That is suffice enough.

Yeah just make sure you establish the purpose of you buying such plans for yourself before signing up

yeap it is an investment linked life insurance then.

found this brochure like thing....

Smart wealth flyer....
https://www.maybank2u.com.my/iwov-resources...ealth_flyer.pdf

Thanks, but still clueless on what the heck it is. And where the “investment thing” the banker mention.
Will just ask the banker later on

This post has been edited by shahrul09: Feb 20 2019, 11:55 PM

wow thanks for the flyer!

the flyer wont mention it is an investment link. dont subscribe to plan like this just because of the word "investment".
the example in the flyer is RM160k/year premium (payment term 5 years) for a 40 years old uncle. only thing not stated clearly is the amount reflected for retirement age is how many years old.

What 10mil insufficient, how do u know? Like that might as well wait to die without treatment cos how many can afford that. What type of insurance can cover 50 million?

Bro, relax.

I was playing on a person's natural fear of mortality, serious illness. The higher the better for me to close ma.

#sarcarstic

This post has been edited by basSist: Feb 21 2019, 09:05 AM

You are interested in what kind of product?
Maybe we can recommend other options for your.

Seems to me that you don’t have any proper planning at the moment or a road map on where you want to head to when you mention no clue about such investment. I would suggest you meet a proper guru if you are serious about your own personal finances.

My 2 cents

Just to clarify, now I know it is a investment linked life insurance. “No clue on the investment linked things” means the details of which fund they gonna go for. There are lot funds etiqa go for such as -Premier Global Equity Fund, Dana Pendapatan Prima, Dana Equity Prima etc.
I need the deeper things. So I can at least check their Fund fact sheet.
Hence I asked here if anyone know better with the sales illustration etc, would love to give it a read on my own time whenever I can instead of spend my fixed limited time waiting and que in the bank. (Which I can, but not prefer to go,
I think everyone understand )
If no one got that, yes I will go to that guy and listen there.

okie update us again once you listened to the sales person

Hi shahrul09,

Great to know that you are taking the initiative to do your homework.

SmartWealth is basically an investment linked life insurance plan. Based on the brochure, they are selling the concept of legacy planning with life insurance as a tool. Let's break it down what the brochure is trying to convey.

1) You have RM3,000,000 in total assets = networth

2) You wish to leave RM2,000,000 to his kids and set aside RM1,000,000 for his retirement.

Simple, but the brochure suggest that you do this instead

1) Set aside RM800,360 for life insurance premium payable over 5 years. This will provide you with a life insurance coverage of RM2,000,000 hence freeing up RM2,199,640 (RM3,000,000 - RM800,360) as your retirement fund instead of RM1,000,000

2) Your new networth is as follow:

Life Insurance Coverage: RM2,000,000
Retirement Fund: RM2,199,640
Total Networth: RM4,199,640

As to which fund they go for, it is an option that you can choose and your banker should be able to generate the Sales illustration accordingly. However do take note that Sales illustration projections are merely that, projections. It does not take into account their actual past performance and the projection rates are fixed between 2 - 3% (low scenario) to 8 - 9% (high scenario).

If you are concerned about time, you can always let us know the total sum assured you would like, follow with your Date of Birth, Sex, Occupation, Smoker/nonsmoker and we can all easily provide you with the detailed SI. These kind of investment linked insurance plan is not special to Etiqa

P/S: Here's the link to their fund fact sheet if you're wondering: https://etiqa.com.my/v2/investment-linked-funds

Best,
Jiansheng

This post has been edited by Holocene: Feb 21 2019, 01:20 PM

That is partially true, it really depends on the type of plan too.

For example:

Life Insurance: RM1,000,000

Full pay: Premium RM1,907/year = total commision RM1,716.30 over 6 years

6 pay: Premium RM5,573/year = total commision RM1,504.71 over 6 years.

As you can see the difference in commission is only RM211.59.

If you are savvy with your finances/money then the question of Time Value of Money comes into play and lets just say chances are you will opt for the Full pay option.

Best,
Jiansheng

Does it even matters if their parents (my great grandparents) had those disease after 60 yrs old or 65 yrs old?

When I signed up for my own medical insurance, the questionnaire specifically asked : below 60/65 yrs old.... (cant remember which already)