Should be HLA plan,

https://www.hla.com.my/CMS/Product-Services...uct=73&Sub=1022

Since you had already decided to buy before you even write this thread, so what you want now?

if i am not mistaken,...many months/years back...almost similar product from HLA...
can check from previous LYN threads for some valuable threads and posts....
https://www.google.com/search?q=hla+wealth+...iw=1366&bih=657

where they gives 20% pa.....
from only after 1st year after deposit
sort of like...
July 2020 you deposit RM10000
July 2021 you deposit RM10000, you get RM2000, thus 20% of your current deposit money, but your total deposit is RM20000, (2k of 18k is 11.1%)
July 2022 you deposit RM10000, you get RM2000, thus 20% of your current deposit money, but your total deposit is RM30000, (2k of 26k is 7.69%)
July 2023 you deposit RM10000, you get RM2000, thus 20% of your current deposit money, but your total deposit is RM40000, (2k of 34k is 5.88%)
July 2024 you deposit RM10000, you get RM2000, thus 20% of your current deposit money, but your total deposit is RM50000, (2k of 42k is 4.76%)
July 2025 you deposit RM10000, you get RM2000, thus 20% of your current deposit money, but your total deposit is RM60000, (2k of 50k is 4%)
and so on....
do take note....if you take that $$ out...your total cash value will be much affected later on

I don't know what plan you are posting.

But based on above limited info, it is more like a saving plan or endowment plan. It is not a fixed deposit with 30% or whatever % dividend/interest.

Saving plan guaranteed cash back is not your earned interest or dividend. It is not like you placed 100K with 30% cash back, then you you have 100K + 30K. It doesn't work that way.
Once you get the 30%, then surrender value drops.

A portion of cash back came from your own capital.

Normally saving plan return rate or IRR is more and less comparable to FD rate if held until maturity.
You need to count entire amount guaranteed cash back you are getting + maturity amount you are getting to determine the "real" dividend you are getting.
It is not like every year you get guaranteed 30% or 20%, then you still get back your own origin principal amount.

Saving plan is long term commitment, any premature withdraw may affect the principal amount, it is not a fixed deposit.

It is irresponsible for anyone to promote saving plan as fixed deposit.
It is also irresponsible to say guaranteed cash back is an interest or dividend earned.

I calculated the IRR thereafter and it's somewhat like 4-5%. Even worse than your EPF return and can easily be on par with the current ASNB FP fund returns.

Not yet boss. Asking opinion in Lowyat.NET not unwise for most of the aspect.

Yes, they only highlighting the return for the first year, and not the overall return.

Bro pls refer to my reply above, 30% only for first year (60k/200k premium paid). After that as you put 200k each year, the guaranteed income percentage will drop. At the end you are only getting 5% interest on 1.2 million premium paid.

I’ll advise you not to take the offer and lock yourself for 20 years. Investment return are not guaranteed and it’s extremely illiquid that you will confirm lose out if you withdraw before 20 years.

Dont rush. Wait first.

It's HLA product, it wont end at 12pm. It's an insurance savings plan typically (non guarantee) give you 4% to 6% per annum return over the long term.

Keep in mind 20 years is a long time. But insurance savings plan has it benefits as well. Just make sure you can accept the cons as well.

It's not fixed deposit and it's not for short term return.

6 years, rather than 20 years you guys mentioned.

6 years, rather than 20 years you guys mentioned.

But you pay 6 years cant withdraw for 20 years. That's why 20 years lo. Fixed deposit normally 1 year ma.

you just don't get it.

the payment is for 6 years, if you take out anywhere before 20 years, you'll lose money. Simple as that.

Ahhh. Just clarified, you guys are right. I misunderstood.

Just got the reply from agent regarding surrender value at 7th year is only RM 59,210 lol if 10k was initial capital.

topkek

As pic attached above.

Sorry for the late reply. Was super busy during Covid phase.

Yes. I do agree with your points. But anyway lock for 6 years, not 20 years as you put it.

Spent hour and half going through link that yklooi provide. Lucky stumbled upon you guys before commenting.

Just DIY invest in S&P 500 or stashaway. All these bancassurance plans have plenty of hidden fees to benefit the bank.

Ahhh. Just clarified, you guys are right. I misunderstood.

Just got the reply from agent regarding surrender value at 7th year is only RM 59,210 lol if 10k was initial capital.

topkek