You said calculate on Sep 1 and Oct 1.. then reopen 2 days later... but if pro rated.. can sell anytime right? Why wait for Sep 1?

Hi RigerZ, you can actually check the details in policy contract document. Definitely when you stop paying premium after 20th year (for C), there will be insurance charges that will be deducted from your cash value because you are still insured with the benefits.

For B, the minimum sum assured is RM10,000. So you can calculate based on the sum assured and premium you are paying now.

For C, it is kinda impossible to make is 100/month due to the minimum needed 500k sum assured. So you might wanna tell your agent how much coverage you actually want (so he can reduce based on sum assured then give you the minimum premium needed for the revised sum assured)

Hi kbandito. Thanks for mentioning that. For me I will always focus on buying insurance because of the protection. Yea i'm aware of many agents selling it as a return in the future. I guess this needs to be corrected to gain market's trust and confidence again.

Hi Tsukasa. I'm eager to know what your friend bought. 100k instalment for how many years? 50k maturity benefit is unacceptable (or maybe the protection is super high?).

Becoz they wanna maximize the return

The pro rated from asnb is as such
1st May balance - 20k
31st May balance - 10k

It will take your May investment value as 10k only. Hope this clarifies.

N the previous post is not by me but by a more experienced asnb investor than me haha.

This post has been edited by neverfap: Aug 27 2019, 10:28 AM

Oh ok, thx

Its for his child education fee. As he buy with AIA and when recession time and USA need to bail out aia. His investment mature. Its for the child saving investment scheme. lolx.. He told me the agent say can get back 50k is consider miracle. As in USA that time AIA is at brink of closing down.

From that day onwards. I hold my own future. Invest my own in share, gold, silver, currency fd with banks and etc.

Do buy from reputable sources such as bank and do note the PIDM RM250k insurance. Don't put all money in one bank

Reopen 2 days later because it's a holiday and replacement holiday this year. normally they reopen on the first day itself.

from an article at that time in 2008....for those interested

To be fair, the financial loss is an AIG problem, but unfortunately its operations around the world, including Malaysia, Singapore, Taiwan and Hong Kong to name a few, have been dragged into the picture.
In Malaysia, AIA is a locally incorporated insurer with 60 years’ market presence, a 23-branch network and over 1,000 full-time employees and 8,000 agents.
In the statement, AIA chief executive officer Khor Hock Seng said the company was well capitalised and maintained “separate reserves” in Malaysia in line with the regulations to meet obligations to policyholders and that over 96% of its assets were invested locally.

A Sept 17 statement issued by American International Assurance Bhd’s (AIA) corporate communications department saying that it was “business as usual” for AIA and that it would not be impacted by the financial losses incurred by parent American International Group (AIG),....
Read more at https://www.thestar.com.my/business/busines...1MKpvR7D3BRX.99

American International Group Ltd (AIG)’s decision to have a public share sale exercise for American International Assurance Co Ltd (AIA) should not affect policyholders in Malaysia.
Analysts covering insurance companies say this is because AIA Malaysia is incorporated here and its operations are governed by Bank Negara Malaysia.
“Even when the parent first had problems in the US, AIA’s operations here were not affected,” an analyst with a local brokerage says.
Since the US government’s bailout exercise last September, the number of customers pulling out of its insurance schemes in Malaysia has not been significantly higher than usual.

https://www.theedgemarkets.com/article/aia-...n-policyholders

"From that day onwards. I hold my own future. Invest my own in share, gold, silver, currency fd with banks and etc. "

unknown to how long that days onwards had passed.......i wish you had passed the asset accumulation stage and had accumulated enough to say no need to risk mitigation.....


This post has been edited by yklooi: Aug 27 2019, 01:27 PM

Thank you for your reply.

If 26 year old till 65 year old is total 39 years
so if 26 year old in 2015 then 65 year old in 2053.
I do again the calculation still not same answer.
Year 2015 start balance is zero, then contribution RM 3600 and get 6%pa in same year.
repeat above till 2053 year.
The results is
In year 2052 RM 485655.14 or RM 459925.03
In year 2053 RM 518610.45 or RM 491120.54
In year 2054 RM 553543.08 or RM 524187.77

You not like count for hobby?
When you free time not want find above answer?
If I wrong count then maybe what I count before all wrong.
Now, we still here, if you like, we can online discuss learning together.
But I just wrote only, no interesting above also never mind.
Thank you.

Use this. Follow his criteria. For A, B, C.
http://www.moneychimp.com/calculator/compo..._calculator.htm

This post has been edited by Ramjade: Aug 27 2019, 02:39 PM

Thank you for your reply and link.
Now, my standard only know count A.
B,C don't understand what happen, so just like that.

I use the conditions mentioned by TS in A, B, C. Start contributing, stop contributing and how much money at xx age

A I know how you filled.
Current Principal: $3,600.00
Annual Addition: $3,600.00
Years to grow: 39
Interest Rate: 6 %
Compound interest 1
time(s) annually Make additions at (yes) start end of each compounding period
Calculate Results Future Value: $ 588,475.70

B I'll like below.
If 26 year old - 65 year old = 39 - 1 = 38 years, then use you A count way + what I thought.
Current Principal: $12,000.00
Annual Addition: $12,000.00
Years to grow: 19
Interest Rate: 6 %
Compound interest 1
time(s) annually Make additions at (yes) start end of each compounding period
Calculate Results Future Value: $ 465,734.29

Then
Current Principal: $465,734.29
Annual Addition: $0
Years to grow: 18
Interest Rate: 6 %
Compound interest 1
time(s) annually Make additions at (yes) start end of each compounding period
Calculate Results Future Value: $ 1,329,363.62

Then
$465,734.29 + $1,329,363.62 = $1795097.91

My English very bad, so I can understand is like above, I mistake or not?
I can't get your B and C answers.
EPF will give you 1,532,158.60 at 65 years old
EPF will give you 1,915,198.22 at 65 years old

This is really not for exam and not what of you, instead thank you of your link.
Just refer your way and my way, then if I know I count wrong, I can feeling like that.
If you still ok, any please feel free argue me.

Good morning everyone.

My agent has informed that the minimum premium for plan B and C is RM2400 per year.

Will find time after work to re-study and see if it's worth continuing. Sifus and tuk gurus boleh masuk in the meantime

Add: I will be meeting him next week. I would want to sharpen my knives and throw the hard questions at him. What kind of questions can I prepare?

Add add: He's also in charge of my medical insurance so I dont want to burn bridges

ckdenion Ramjade yklooi kbandito Holocene

This post has been edited by RigerZ: Aug 28 2019, 02:30 PM

amanah saham is for BUMI only right? if non-bumi can buy, how to buy ya?

plz advice...

There is fund that limited to bumi but there's also fund that open to non bumi too

U can research more on the specific asnb topic in this forum

Got only 3 funds for non bumi. Kindly refer to that specific thread.

You paid his commission and he should answer any queries you have and assist you.

If you ever admit to hospital you will find out that most paper work are done by the hospital staff. Even if your agent is there, it won't make any difference. Sorry to say, they are there to show face only.

Instead of asking him, why don't you ask yourself what's the initial purpose of all these plans? protection or saving?

If is for savings then you can just cancel the plan, the money that you "burn" just take it as a lesson. There's no guarantees you will break-even/profit at the end of the insurance term. You are so young, as long as you are still working you can always earn back the money that you have loss.

Assuming you have no dependents, all the cost of insurance that you are paying for is just a waste of money.

In your new overall planning, there is a need to really understand the differences of this three:
1) Medical - ILP is cheaper than standalone medical over the long run, somemore you have already paid his commission, there is little motivation to switch, so this one can most likely keep.
2) Life protection - the premium (actual cost of life premium, not total contribution) that you have is likely to be low as you are young. Only consideration is that you have already paid your agent’s commission, do you want to forgo/write-off that cost?
3) Investment/ savings- you need to lookout to the market for highest yielding product that fits your risk appetite. I don’t believe in fund managers so I will not consider things that require me to pay 1.0-1.5% of my portfolio as fees to them, every year. To you, again can you forgo the commission that your have paid.

Second this RigerZ

Those are not saving plan
The money u put in is not guaranteed to grow and might be lesser when you wanna withdraw it.

Just keep a medical card and drop others. As for the burn bridge thing, you can always change agent by keeping the existing plan. Plus I believe the agent sold you the plan by providing you with some misleading information (eg stating its a retirement/saving plan even though its a life/medical insurance). If its me, I will transfer the plan to another agent.

Glad to hear that RigerZ. at least things are working out. honestly, i have no hard questions for you to throw. i guess the best is you judge whether he stands at your best interest or not. you yourself can feel it within his conversation with you. so yea... im also not in the best place to ask you to cancel everything off because i don't know your financial position and don't know your financial needs and goals.