no wonder so many wanna be agents nowadays
can take 6 years

but it's a total scam for some
they want the agent to push investment and savings...instead of medical card, medical insurance or life insurance
i say no straight to his face since he wants me to sell investment plan

but I think you misunderstand.

This is before my time, but it used to be that we get 100% of the 1-year premium paid, payable in 3 years. Now we get 125% of the 1-year premium payable in 6 years.

So now we have to service the clients for longer than 3 years, and there are possibilities that the clients will not continue with the plan for the 6 years, which means our commission would be cut short too

Nothing much we can do about any of this, we dont decide them

And you are right. DOn't buy insurance products if you want to make investments. They are just a combination of investment and insurances, with the insurance portion having a cost attached to it. If you are properly insured, you are just wasting your money by being over-insured.

#YOLO

Ask Jho Low to donate. I'm not rich enough.

same with those pipu collect tabung for masjid or tahfiz wat.

few % goto their pocket.

that's why i don't even start selling
because for my agency, they don't allow us to sell "insurance" at all
all they let us newbie sell is investment/savings plan only
and keep brainwash us how good it is....no customer base?...start with your parents/relative
i'm not falling for it

those insurance ones are only for higher level ones

Yes it is

That's why those pay monthly by credit card kesian lol

What do u mean by service the client longer? Issit after 3 years u will block his numbers?

No one said that. BNM chaged the rules so agents have to service the clients for longer periods of time. Take that however you will

need to email unicef to stop the payment. then they will tell bank to stop the auto deduction.

im one of those moron who did that.

the idea of donating to help the children is not moronic. but having halved the payment just to pay these sales agent is (and outright taking advantage to those who really need the money), so upon finding out about this, i quickly stop the payment.

but then again, those payment i made, i claim it back during my tax filing.

how about budimas, issit same scam or real charity?

But now all the insurance and medical cards comes with investment link. Can find without investment? They said because BNM said have to be able to sustain for more than 40 years or something. So investment then only can.

1. My knowledge on this is admittedly limited, there are too many products so most agents would focus on only a few while knowing others based on cursory. As such, I am not too familiar of any availability of stand-alone medical cards, most cards are admittedly riders of a "mother-policy", which means you can only get those cards if you also subscribe to the mother policy, and all terms and conditions are also tied to the mother policy

2. It is not that "investment only can" per se, but investment product provide longevity in the policy. Premium paid for investment-linked-policies (ILP) are inclusive of the investment portion and the cost-of-insurance (COI) portion. this means you are expecting that the cost-of-insurance will go up, so you pay extra today so in the future you the COI increment would have been factored in your premiums today.

in the example below, the COI starts at RM80/m but the client is paying RM200 a month. If we ignore company cut and agent commission, RM120/m is paid into his investment account which will be further invested. In 20 years time, when the COI has increased that it is higher than the monthly premium, the difference will be taken from the investment account. This is why ILP can last longer, to some extent, as long as the agent is not a lying little weasel

3. Agents and companies sometimes never explain that the ILP is not an investment product, it is an investment product that invests your upfront payment (the investment portion) in unit trust accounts. During quotation, some companies put 9 or even 10% as the yearly return for these investments, making their monthly premium cheaper. This is obviously not sustainable.



This post has been edited by wild_card_my: Dec 11 2019, 10:10 PM

Err that's not how income tax works. U get tax deduction only bukannya u donate 100 u get back 100 pun

We talk about unicef donation drive (used to be one of them)
What about those direct debit through their website (my family do that, direct via website)

😅

really ah? but then again, i never count pun how much i got during tax refund..janji duit masuk..

Same as your other tax rebates la. Takkan buy 100 they give u 100 lol

ahhh..now i know..

Dear Sifu,

How to print UNICEF tax receipt online? Any way to do so? Kindly advice. Urgent as kena audit by LHDN and 2017 receipt hilang.