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> Bijak Malaysia, insuarance plan

saimatkong
post Sep 5 2007, 11:40 AM


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What do you all think about this plan ?

user posted image
It's most certainly not just another whole life insurance plan.

Indeed, Bijak Malaysia is a bancassurance product engineered to meet your growing life protection needs, whatever your age and station in life may be.

Choose to insure your life and that of your loved ones from as young as 30 days right up to the age of 53, all at the convenience of affordably priced premiums.

A non-participating whole life plan with limited premium payment (up until 55 years old, the typical retirement age in Malaysia), it provides comprehensive coverage against death as well as Total and Permanent Disability (TPD) due to natural and accidental causes.

Unique Features
. Whole life superior protection coverage
. Affordable monthly premiums (RM100, RM200, RM300 & RM500)
. Extra protection coverage during productive/working years
. Guaranteed Triennial Cash Payment for life @ 5% of Sum Assured until age 88
. Guaranteed Maturity Benefit (Full Sum Assured is payable)
. Pre-packaged, easy enrollment & hassle free (only requires a simple health declaration to get started)
. Initiated by the National Insurance Association of Malaysia (NIAM)

What looks like a perfect life today may not remain that way forever, especially if you don't plan your whole life insurance needs well. So get the protection coverage you need with Bijak Malaysia. With Maybank.

more details
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HMMaster
post Mar 7 2008, 02:14 PM


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saw this at cimb. it said will have cash payment every 3 years... (and some commision stuff) anyone know more details about it? not quite clear about the cash payment part... it mean the bank will give me back cash every 3 years?
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NaMyzarC
post Mar 7 2008, 02:17 PM


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can explain the term "only requires a simple health declaration to get started" ?
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HMMaster
post Mar 7 2008, 02:25 PM


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QUOTE(NaMyzarC @ Mar 7 2008, 02:17 PM)
can explain the term "only requires a simple health declaration to get started" ?
*
maybe no need medical check up.

protection:
death - 400% of sum assured (natural causes)
total permanent disability - 200% of sum assured (natural causes)

min monthly premium - 100 (200,300,500)
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bluffy83
post Nov 6 2008, 04:08 PM


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BUMP!

i need to know more about this.. let discuss more guys! better then any common insuran plan meh?
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darkknight81
post Nov 6 2008, 05:09 PM


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36 illness cover?
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bluffy83
post Nov 6 2008, 07:11 PM


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government support? how come?
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vicng
post Nov 9 2008, 11:21 PM


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this plan is designed by BNM & selling by most the local banks same as Teras Malaysia. U only need to declare ur height & weight, no health condistion questionaires to be answered, tht means no need underwriting. No loading, just got cover or not cover the proposal.

Premium paid untill age of 55 y.o. & u can enjoy the coverage until 88 y.o., tht means after 55 y.o., u no need to pay the premium but u can enjoy free insurance coverage on Natural death (2x Sum Insured) & Accidental death (4x Sum Insured) till 88 y.o.. Upon maturity at 88 y.o., u can get back a sum insured tht cover u during ur entry age.

Actually u have 2 options on the cash payout every 3 years (around 30%-40% (It's stated Guaranteed payout in the policy) of ur premium paid in 3 years). U can opt for cash out the money every 3 years or let it roll over in the policy & get back upon maturity at 88 y.o..

Anyone who interested can pm me for an appointment to discuss further. This plan is more tends to savings plan rather than protection plan.

This post has been edited by vicng: Nov 9 2008, 11:25 PM
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kumarr
post Nov 10 2008, 06:32 AM


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QUOTE(vicng @ Nov 9 2008, 11:21 PM)
this plan is designed by BNM & selling by most the local banks same as Teras Malaysia. U only need to declare ur height & weight, no health condistion questionaires to be answered, tht means no need underwriting. No loading, just got cover or not cover the proposal.

Premium paid untill age of 55 y.o. & u can enjoy the coverage until 88 y.o., tht means after 55 y.o., u no need to pay the premium but u can enjoy free insurance coverage on Natural death (2x Sum Insured) & Accidental death (4x Sum Insured) till 88 y.o.. Upon maturity at 88 y.o., u can get back a sum insured tht cover u during ur entry age.

Actually u have 2 options on the cash payout every 3 years (around 30%-40% (It's stated Guaranteed payout in the policy) of ur premium paid in 3 years). U can opt for cash out the money every 3 years or let it roll over in the policy & get back upon maturity at 88 y.o..

Anyone who interested can pm me for an appointment to discuss further. This plan is more tends to savings plan rather than protection plan.
*
If take option 1 cash payout every 3 years than u'll be left less money payout in the end.
And if go for option 2 still a bit loss also as the policy runs from age 55 to 88 by the balance of premium paid with interest, so from age 55 onwards it will be getting lesser but unseen as add up by interest.
Correct me if i'm wrong!
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vicng
post Nov 10 2008, 11:57 PM


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QUOTE(kumarr @ Nov 10 2008, 06:32 AM)
If take option 1 cash payout every 3 years than u'll be left less money payout in the end.
And if go for option 2 still a bit loss also as the policy runs from age 55 to 88 by the balance of premium paid with interest, so from age 55 onwards it will be getting lesser but unseen as add up by interest.
Correct me if i'm wrong!
*
Then u can take out the money from policy after 55 y.o. dun let the insurance company eaten ur $$. There is no free lunch under the sun. U get what u paid. thumbup.gif
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bluffy83
post Nov 12 2008, 08:48 AM


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QUOTE(vicng @ Nov 10 2008, 11:57 PM)
Then u can take out the money from policy after 55 y.o. dun let the insurance company eaten ur $$. There is no free lunch under the sun. U get what u paid.  thumbup.gif
*
is it mean when i reach 55 i already can take all the premium meh? no need to wait till 88? i dont think i can live that long uoh sweat.gif

This post has been edited by bluffy83: Nov 12 2008, 08:50 AM
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vicng
post Nov 12 2008, 09:45 PM


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yes, u r rite. but once u cash out every single cents. Policy will be terminated.
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sissonne
post May 20 2009, 12:15 AM


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QUOTE(vicng @ Nov 10 2008, 11:57 PM)
Then u can take out the money from policy after 55 y.o. dun let the insurance company eaten ur $$. There is no free lunch under the sun. U get what u paid.  thumbup.gif
*
careful here...i don't think this is a savings plan whereby you can withdraw whatever money you've put in.
from the brochure that i see, it clearly looks like its a protection plan with premium of 1200 - 6000 annually.
i went to the bank and the sales girl seems pretty blur trying to sell this off like a saving + protection plan. the strange part is the entire brochure did not state it as a saving at all...

for e.g. my age now 26,

paying 1200/annum will get me 30,100 sum assured
paying 6000/annum will get me 162,300 sum assured

in terms of sum assured, i think there are better and higher package out there for this price...
for instance, i'm paying 1700/annum for my ing life protection and i get about 75,000 sum insured.

i think most of the people were confused with the saving terms kuaaaa...
correct me if i'm wrong ya wink.gif
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yeezai
post May 20 2009, 12:59 PM


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QUOTE(sissonne @ May 20 2009, 12:15 AM)
careful here...i don't think this is a savings plan whereby you can withdraw whatever money you've put in.
from the brochure that i see, it clearly looks like its a protection plan with premium of 1200 - 6000 annually.
i went to the bank and the sales girl seems pretty blur trying to sell this off like a saving + protection plan. the strange part is the entire brochure did not state it as a saving at all...

for e.g. my age now 26,

paying 1200/annum will get me 30,100 sum assured
paying 6000/annum will get me 162,300 sum assured

in terms of sum assured, i think there are better and higher package out there for this price...
for instance, i'm paying 1700/annum for my ing life protection and i get about 75,000 sum insured.

i think most of the people were confused with the saving terms kuaaaa...
correct me if i'm wrong ya wink.gif
*
sometimes they like to confuse consumers ...if its insurance policy then go for insurance not for saving...
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omniknight86
post May 20 2009, 01:03 PM


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QUOTE(yeezai @ May 20 2009, 12:59 PM)
sometimes they like to confuse consumers ...if its insurance policy then go for insurance not for saving...
*
many people get confused and being "cheated" by the companies. which is very common now, also make sure the agent is a good agent, if that agent is not good in servicing then it is hard to get support whenever we need it. and make sure you understand every terms of it before signing it
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yeezai
post May 20 2009, 01:31 PM


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QUOTE(omniknight86 @ May 20 2009, 01:03 PM)
many people get confused and being "cheated" by the companies. which is very common now, also make sure the agent is a good agent, if that agent is not good in servicing then it is hard to get support whenever we need it. and make sure you understand every terms of it before signing it
*
i dont think most ppl bother to read the terms and agent wont bother to explain it to them either...all consumers know is those figure they will get in the future which is quite blurry coz this things needs time to be proven a fact...
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omniknight86
post May 20 2009, 02:21 PM


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QUOTE(yeezai @ May 20 2009, 01:31 PM)
i dont think most ppl bother to read the terms and agent wont bother to explain it to them either...all consumers know is those figure they will get in the future which is quite blurry coz this things needs time to be proven a fact...
*
make that agent explained to you all the thing you need to know about insurance such as

1. premium paid- how much i paid monthly? do premium rate change?
2. Area that are insured- what kind of thing that are insured by the company? make sure it is clear and not vague. take a look at it and see if which one you do not understand. insurance involved many money take the trouble to read it
3. what kind of plan is it- sometimes it is a saving plan, asked the agent how much return u get if it is a saving plan? does the plan interest rate changed?
4. how many year i need to paid the premium- i am sure you do not want to paid it until you died? so asked it


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sissonne
post May 22 2009, 01:03 PM


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exactly. especially nowadays with those investment link insurance.
whereby they tell u that whatever u pay in, they will invest out and interest rate return can be like 4-6% average.

but this is not guranteed return plus the fact most of the time they only show u 20 yrs projection whereby the figures still look nice and u can see ur return keep increasing. u can ask them for a 30 yrs projection and u can see that your return is decreasing downwards. its a bell curve.

what they don't tell u is that the insurance cost increases every year and whatever profit gained will be used to pay off this cost. the cut off point is 20 years.
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kenzichi
post Jul 25 2009, 08:51 PM


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wanna ask..how if i would like to withdraw or terminated the policy befor 3years? all my money will get burn argh??

hmm.gif
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lala01
post Jul 25 2009, 09:37 PM


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I actually asked the maybank service counter about this plan. Bijak Malaysia is a plan supported by the government

Policy term: whole life up to 88 y.o.
Payment range: 100/200/300/500 per month
Payment term: Up to 55 y.o.
Coverage: Death and TPD
Guaranteed cash payment: 5% of sum assured payable every 3 years until maturity

There are certain percentages for Death and TPD benefits where you can check from maybank website
EG: First 2 years of policy - 400% from Sum Assured and etc...

The Sum Assured and Guaranteed Cash Payment (every 3 years) depends on the entry age and is fixed.. GCP will be paid if you DID NOT terminate your policy until 55 y.o. every 3 years until you reach 88 y.o. Maybank will pay to you the cash payout every 3 years into your maybank saving acc/via cheque.. but it is advisable for you to have a maybank saving account (easier)..
You can get the table from www.maybank2u.com.my (too many to be listed here) blush.gif

The Sum Assured and Guaranteed Cash Payment (every 3 years) is different between male and female.. Check the table in the website wink.gif

Example:

I am 23 this year, Female.. Payment range rm200/month

If I take payment range of rm200/month = rm2400/year, Sum Assured = rm66300 GCP = rm3315 (every 3 years)
Based on long term calculation; (assuming you live till 88) icon_rolleyes.gif

Basic Calculation:

Age 23 - 55 = 33 years x rm2400 = rm79200
GCP = rm3315 x **22 times = rm72930 (*66 years)
*66 years is calculated from Age 23-88 (because they will still pay you the GCP eventho you stop paying for the monthly payment)
** 22 times = 66 years/3years

At the age of 88, you will get back all your saving which is eq to rm79200 + rm72930 (accumulated from GCP every 3 years)

So, you will actually get back what you pay with extra money if you stay till 88 y.o and at the same time, you enjoy the insurance policy~ In case if anything happened within these 66 years (if I sign up now), my next of kin will get the Sum Assured.. Think of Your Loved Ones.. This is good for people who doesn't have any Life Insurance.. I am sure there are lots of policies out there for insurance.. Just understand it, think of what insurance you need actually and make some comparisons.. Saving / Protections depends on how an individual interprets it..

P/S: If you TERMINATE the policy before you reach 55 y.o., you can only get back partially from what you have paid. The percentage depends on which year you terminate... 25% up to 99% (not very sure of the percentage but this is actually very very common for every single long term saving/insurance policy).. So, sign up if only you understand the term "LONG TERM"

Hope this will help. For more info, go to maybank website and check it out! icon_idea.gif

This post has been edited by lala01: Jul 25 2009, 09:41 PM
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ahpoh
post Jul 26 2009, 03:16 PM


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i bought it after 3 month i terminate it, because is total a waste if you look at the long term. sorry i do not know how to explain it, in the long term you will make a loss calculated by my relative
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loafer
post Jul 27 2009, 08:16 PM


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QUOTE(lala01 @ Jul 25 2009, 09:37 PM)
I actually asked the maybank service counter about this plan. Bijak Malaysia is a plan supported by the government

Policy term: whole life up to 88 y.o.
Payment range: 100/200/300/500 per month
Payment term: Up to 55 y.o.
Coverage: Death and TPD
Guaranteed cash payment: 5% of sum assured payable every 3 years until maturity

There are certain percentages for Death and TPD benefits where you can check from maybank website
EG: First 2 years of policy - 400% from Sum Assured and etc...

The Sum Assured and Guaranteed Cash Payment (every 3 years) depends on the entry age and is fixed.. GCP will be paid if you DID NOT terminate your policy until 55 y.o. every 3 years until you reach 88 y.o. Maybank will pay to you the cash payout every 3 years into your maybank saving acc/via cheque.. but it is advisable for you to have a maybank saving account (easier)..
You can get the table from www.maybank2u.com.my (too many to be listed here)  blush.gif

The Sum Assured and Guaranteed Cash Payment (every 3 years) is different between male and female.. Check the table in the website  wink.gif

Example:

I am 23 this year, Female.. Payment range rm200/month

If I take payment range of rm200/month = rm2400/year, Sum Assured = rm66300 GCP = rm3315 (every 3 years)
Based on long term calculation; (assuming you live till 88icon_rolleyes.gif

Basic Calculation:

Age 23 - 55 = 33 years x rm2400 = rm79200
GCP = rm3315 x **22 times = rm72930 (*66 years)
*66 years is calculated from Age 23-88 (because they will still pay you the GCP eventho you stop paying for the monthly payment)
** 22 times = 66 years/3years

At the age of 88, you will get back all your saving which is eq to rm79200 + rm72930 (accumulated from GCP every 3 years)

So, you will actually get back what you pay with extra money if you stay till 88 y.o and at the same time, you enjoy the insurance policy~ In case if anything happened within these 66 years (if I sign up now), my next of kin will get the Sum Assured.. Think of Your Loved Ones.. This is good for people who doesn't have any Life Insurance.. I am sure there are lots of policies out there for insurance.. Just understand it, think of what insurance you need actually and make some comparisons.. Saving / Protections depends on how an individual interprets it..

P/S: If you TERMINATE the policy before you reach 55 y.o., you can only get back partially from what you have paid. The percentage depends on which year you terminate... 25% up to 99% (not very sure of the percentage but this is actually very very common for every single long term saving/insurance policy).. So, sign up if only you understand the term "LONG TERM"

Hope this will help. For more info, go to maybank website and check it out!  icon_idea.gif
*
Hmmm from my understanding you only receive the SA upon maturity (age:88) and not the amount of money you've paid up to age 55.

This is just like any other endowment plans available right now but packaged differently.

IMHO the maturity age of 88 is way too long.
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c.o.o.l
post Jul 27 2009, 11:48 PM


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This is a kind of whole life endownment policy which offer by many insurance company. With a little bit of difference.
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kob3bryant
post Oct 21 2009, 06:35 PM


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a lot of insurance agent talks here!!!
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DYNS
post Mar 30 2010, 01:28 AM


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QUOTE(lala01 @ Jul 25 2009, 09:37 PM)
I actually asked the maybank service counter about this plan. Bijak Malaysia is a plan supported by the government

Policy term: whole life up to 88 y.o.
Payment range: 100/200/300/500 per month
Payment term: Up to 55 y.o.
Coverage: Death and TPD
Guaranteed cash payment: 5% of sum assured payable every 3 years until maturity

There are certain percentages for Death and TPD benefits where you can check from maybank website
EG: First 2 years of policy - 400% from Sum Assured and etc...

The Sum Assured and Guaranteed Cash Payment (every 3 years) depends on the entry age and is fixed.. GCP will be paid if you DID NOT terminate your policy until 55 y.o. every 3 years until you reach 88 y.o. Maybank will pay to you the cash payout every 3 years into your maybank saving acc/via cheque.. but it is advisable for you to have a maybank saving account (easier)..
You can get the table from www.maybank2u.com.my (too many to be listed here)  blush.gif

The Sum Assured and Guaranteed Cash Payment (every 3 years) is different between male and female.. Check the table in the website  wink.gif

Example:

I am 23 this year, Female.. Payment range rm200/month

If I take payment range of rm200/month = rm2400/year, Sum Assured = rm66300 GCP = rm3315 (every 3 years)
Based on long term calculation; (assuming you live till 88icon_rolleyes.gif

Basic Calculation:

Age 23 - 55 = 33 years x rm2400 = rm79200
GCP = rm3315 x **22 times = rm72930 (*66 years)
*66 years is calculated from Age 23-88 (because they will still pay you the GCP eventho you stop paying for the monthly payment)
** 22 times = 66 years/3years

At the age of 88, you will get back all your saving which is eq to rm79200 + rm72930 (accumulated from GCP every 3 years)

So, you will actually get back what you pay with extra money if you stay till 88 y.o and at the same time, you enjoy the insurance policy~ In case if anything happened within these 66 years (if I sign up now), my next of kin will get the Sum Assured.. Think of Your Loved Ones.. This is good for people who doesn't have any Life Insurance.. I am sure there are lots of policies out there for insurance.. Just understand it, think of what insurance you need actually and make some comparisons.. Saving / Protections depends on how an individual interprets it..

P/S: If you TERMINATE the policy before you reach 55 y.o., you can only get back partially from what you have paid. The percentage depends on which year you terminate... 25% up to 99% (not very sure of the percentage but this is actually very very common for every single long term saving/insurance policy).. So, sign up if only you understand the term "LONG TERM"

Hope this will help. For more info, go to maybank website and check it out!  icon_idea.gif
*
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DYNS
post Mar 30 2010, 01:36 AM


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QUOTE(ahpoh @ Jul 26 2009, 03:16 PM)
i bought it after 3 month i terminate it, because is total a waste if you look at the long term. sorry i do not know how to explain it, in the long term you will make a loss calculated by my relative
*
Dear all,

This is a merely protection plan, nothing to do with savings. When you see the word Non-par, that means this policy will not give you any profit from the company. (non -participating policy)

This plan only suit those who has tight budget at the beginning of their days (fresh graduates). At least you have certain coverage.

When consider a plan, duun look at the brochures alone, ask around. Btw, I work with insurance company marketing arm. Things are always beautiful externally but you need to understand what you want at different stages.

Insurance Companies will not cheat, the one who cheat is agent (even thoughthey are your friends).

Let me know if you need any advice. I am not agent. no worry... thumbup.gif

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soonlee33
post Apr 7 2011, 05:50 PM


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QUOTE(ahpoh @ Jul 26 2009, 03:16 PM)
i bought it after 3 month i terminate it, because is total a waste if you look at the long term. sorry i do not know how to explain it, in the long term you will make a loss calculated by my relative
*
How to terminate?
Today I went to cimb to open a savimg account
Den 1 of the staff promote this plan to me by claiming this a saving plan! Zzz
He said pay hundred monthly for 3years and u wwill get the 5% interest return
So I signed the agreement and now I felt regret sad.gif
Pls advice

This post has been edited by soonlee33: Apr 7 2011, 05:52 PM
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pingubabe
post Apr 7 2011, 09:11 PM


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Yea, went to CIMB yesterday. The staff also tries to promote d same plan to me. haih.. insisting that this is a good plan. But i dun see the reason for having a saving with protection. I'd rather go for solely protection.

Dude, you got the policy with you? i'm sure there is a cooling of period of x numbers of days. read the t&c.. you can cancel the policy. Or call the customer service .. they shld b able to advice you icon_rolleyes.gif

Good luck!! wink.gif

This post has been edited by pingubabe: Apr 7 2011, 09:12 PM
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comme_play
post May 30 2011, 06:25 PM


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haih... bought this from maybank and has been charged first month installment.

i dun even have the t&c with me and it has already charged me. really would appreciate any advice whether to continue with this or cancel the earlier the better.

am thinking maybe will be into this when i'm working already since i can get tax relief. i'm not foreseeing myself to die before i start working.
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tsunamiboy
post Jun 8 2011, 12:25 AM


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If you all see the 5% widely is actually based on sum assured and not based on our premium.This is more to like insurance protection rather than saving plans after 55yrs of maturity as we loss the money for protection.

This is similar like takaful concept that i have joined and based on the list i saw and explained by my agent for the takaful,proven that the my takaful plans have higher protection of sum assured and not only that additional cash payment alsoadded into it.

Many will think that it is like or better than FD savings but its totally not as we pay more for protections in the end.

So basically the elderly age is recommended to join this plan. For the young one join takaful.My advise

For govenrment investment .All insurance ,takaful and bank are controlled by Bank Negara Malaysia and is use for government investment also.
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ckyned
post Jun 23 2011, 06:00 PM


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luckily found this thread, just sign up today. will terminate it tomorrow. bwahahahaha....
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shahruls
post Jun 24 2011, 10:20 PM


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me also lucky, agent said this plan is good for newborn.so confuse... i'm still searching the right plan for my third son.Both my daughter under siswa takaful.still not sure for my 2 month son
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almeizer
post Jun 25 2011, 03:16 AM


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QUOTE(shahruls @ Jun 24 2011, 10:20 PM)
me also lucky, agent said this plan is good for newborn.so confuse... i'm still searching the right plan for my third son.Both my daughter under siswa takaful.still not sure for my 2 month son
*
If you plan to save for your child's education, can try SSPN by PTPTN. Purely saving with annual interest (not guarantee), you can deposit any amount you want but with minimum amount (very little). PTPTN website down now, I cant get the info. Tax relief up to RM6k. I think got some protection also, but not much.

SSPN by PTPTN

The cons is that only can withdraw when your child further study or not planning to further study, so roughly about age 18 (your child) only can withdraw.

This post has been edited by almeizer: Jun 25 2011, 03:17 AM
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shahruls
post Jun 25 2011, 03:21 PM


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tq for info,i'll read about it.any other suggestion?
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rayla_
post Jul 22 2011, 01:14 PM


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Sorry, I'm facing some problems with this plan. Wishing for somebody to guide me cancel off this plan.
Last month, when I went to CIMB bank, a guy who claimed himself a financial consultant who working in the bank introduced this plan to me. But he cheated me that this 'plan' is a saving account instead of telling me it is an insurance plan in fact. Yet he still said that the different btwn this account with normal saving account is no interest will be given but dividen will be given to us every 3 yrs. He lied to me there is no t&c applied & wanted me to sign a form but without letting me read through the form. Stupidly, I thought it is really a saving account & signed for it. When I did some researches at home, I found that I had been cheated & wanted to cancel off the plan. I returned to him the next day but he told me he already signed up the plan for me, & if I wished to cancel, I had to wait till the policy letter coming. According to my research, suppose he cannot sign up for me coz my personal details will be needed to fill in the form, but then I just realized that he simply filled in the details for me in order to sign me up by that day. Then he wanted me to wait for the policy letter to come in 2 weeks time. When I argued with him why he cheated me to sign the form, he still dare to told me that it is NOT an insurance, but saving (& he plus the words 'protection' which he didn't mention yesterday). After 2 weeks, I still didn't see any letter coming & came back to him, found that he did nthg at all to help me cancel off the plan. Now it had been almost 2 months since the incident & yet I still unable to cancel the plan. Just like what my mum said, he was trying to delay the time purposely. I wonder should I get a lawyer to sue him. I wonder how many have become victims before me. I really really regret for trusting ppl easily...... I really reallly need help to cancel off this plan as soon as possible..... if I know it is an insurance plan, I will never sign for it.......how stupid I am....
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jphlau
post Jul 22 2011, 01:58 PM


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QUOTE(rayla_ @ Jul 22 2011, 01:14 PM)
Sorry, I'm facing some problems with this plan. Wishing for somebody to guide me cancel off this plan.
Last month, when I went to CIMB bank, a guy who claimed himself a financial consultant who working in the bank introduced this plan to me. But he cheated me that this 'plan' is a saving account instead of telling me it is an insurance plan in fact. Yet he still said that the different btwn this account with normal saving account is no interest will be given but dividen will be given to us every 3 yrs. He lied to me there is no t&c applied & wanted me to sign a form but without letting me read through the form. Stupidly, I thought it is really a saving account & signed for it. When I did some researches at home, I found that I had been cheated & wanted to cancel off the plan. I returned to him the next day but he told me he already signed up the plan for me, & if I wished to cancel, I had to wait till the policy letter coming. According to my research, suppose he cannot sign up for me coz my personal details will be needed to fill in the form, but then I just realized that he simply filled in the details for me in order to sign me up by that day. Then he wanted me to wait for the policy letter to come in 2 weeks time. When I argued with him why he cheated me to sign the form, he still dare to told me that it is NOT an insurance, but saving (& he plus the words 'protection' which he didn't mention yesterday). After 2 weeks, I still didn't see any letter coming & came back to him, found that he did nthg at all to help me cancel off the plan. Now it had been almost 2 months since the incident & yet I still unable to cancel the plan. Just like what my mum said, he was trying to delay the time purposely. I wonder should I get a lawyer to sue him. I wonder how many have become victims before me. I really really regret for trusting ppl easily...... I really reallly need help to cancel off this plan as soon as possible..... if I know it is an insurance plan, I will never sign for it.......how stupid I am....
*
just call cimb on the phone and tell them you want to cancel the policy... i believe it can be done on the phone... do not have to go through him.. the reason i think for his delay tactics is to ensure his commission is not withdrawn by the bank...
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rayla_
post Jul 22 2011, 02:04 PM


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QUOTE(jphlau @ Jul 22 2011, 01:58 PM)
just call cimb on the phone and tell them you want to cancel the policy... i believe it can be done on the phone... do not have to go through him.. the reason i think for his delay tactics is to ensure his commission is not withdrawn by the bank...
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thanks for ur fast reply T-T
anyway, i tried before, but they told me to come back to him at the end...
T-T
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lucky8six
post Jul 22 2011, 04:05 PM


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QUOTE(rayla_ @ Jul 22 2011, 02:04 PM)
thanks for ur fast reply T-T
anyway, i tried before, but they told me to come back to him at the end...
T-T
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Why dont u make a complaint to the CIMB branch manager there? Get the person in charge in the bank and tell him that you wish to cancel it.
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cherroy
post Jul 22 2011, 04:36 PM


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QUOTE(rayla_ @ Jul 22 2011, 01:14 PM)
Sorry, I'm facing some problems with this plan. Wishing for somebody to guide me cancel off this plan.
Last month, when I went to CIMB bank, a guy who claimed himself a financial consultant who working in the bank introduced this plan to me. But he cheated me that this 'plan' is a saving account instead of telling me it is an insurance plan in fact. Yet he still said that the different btwn this account with normal saving account is no interest will be given but dividen will be given to us every 3 yrs. He lied to me there is no t&c applied & wanted me to sign a form but without letting me read through the form. Stupidly, I thought it is really a saving account & signed for it. When I did some researches at home, I found that I had been cheated & wanted to cancel off the plan. I returned to him the next day but he told me he already signed up the plan for me, & if I wished to cancel, I had to wait till the policy letter coming. According to my research, suppose he cannot sign up for me coz my personal details will be needed to fill in the form, but then I just realized that he simply filled in the details for me in order to sign me up by that day. Then he wanted me to wait for the policy letter to come in 2 weeks time. When I argued with him why he cheated me to sign the form, he still dare to told me that it is NOT an insurance, but saving (& he plus the words 'protection' which he didn't mention yesterday). After 2 weeks, I still didn't see any letter coming & came back to him, found that he did nthg at all to help me cancel off the plan. Now it had been almost 2 months since the incident & yet I still unable to cancel the plan. Just like what my mum said, he was trying to delay the time purposely. I wonder should I get a lawyer to sue him. I wonder how many have become victims before me. I really really regret for trusting ppl easily...... I really reallly need help to cancel off this plan as soon as possible..... if I know it is an insurance plan, I will never sign for it.......how stupid I am....
*
You should contact the bank, or bank manager, or any relevant complaint bureau department, BNM, not contact the "guy" anymore.
This is serious issue, do not take light on this (misleading), as it could mean you hard earn money in stake, be it small sum or not.

Do not wait. (although this is irrelevant now)
There is 14 days cooling off period for any sign up to cancel without incur any cost/loss.
The delay mean you have passed the 14 days cooling off period.

A general advise to all,
Do not sign any document if do not understand, or the agent/sales/in charge person, cannot/fail explain to you or seem to have something to hide.
There is no hurry to sign up any product.
If not understand, take back all the brochure, document, and seek for info from others, even in this forum, there are many source of info can get.

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MaxWealth
post Jul 23 2011, 04:08 PM


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Please be fast. I am worried that he sign the letter of acknowledgement/delivery and there goes your cooling off period.
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fast&furious
post Jul 25 2011, 01:49 PM


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QUOTE(shahruls @ Jun 25 2011, 03:21 PM)
tq for info,i'll read about it.any other suggestion?
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Well, alternatively u can survey others saving plans offer in the market...
I'm from ING & if you wish to know more, kindly PM at kflai5@hotmail.com
Wish to share more info with u as I'm not active here!!!
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xshiro
post Aug 15 2011, 04:50 PM


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QUOTE(rayla_ @ Jul 22 2011, 01:14 PM)
Sorry, I'm facing some problems with this plan. Wishing for somebody to guide me cancel off this plan.
Last month, when I went to CIMB bank, a guy who claimed himself a financial consultant who working in the bank introduced this plan to me. But he cheated me that this 'plan' is a saving account instead of telling me it is an insurance plan in fact. Yet he still said that the different btwn this account with normal saving account is no interest will be given but dividen will be given to us every 3 yrs. He lied to me there is no t&c applied & wanted me to sign a form but without letting me read through the form. Stupidly, I thought it is really a saving account & signed for it. When I did some researches at home, I found that I had been cheated & wanted to cancel off the plan. I returned to him the next day but he told me he already signed up the plan for me, & if I wished to cancel, I had to wait till the policy letter coming. According to my research, suppose he cannot sign up for me coz my personal details will be needed to fill in the form, but then I just realized that he simply filled in the details for me in order to sign me up by that day. Then he wanted me to wait for the policy letter to come in 2 weeks time. When I argued with him why he cheated me to sign the form, he still dare to told me that it is NOT an insurance, but saving (& he plus the words 'protection' which he didn't mention yesterday). After 2 weeks, I still didn't see any letter coming & came back to him, found that he did nthg at all to help me cancel off the plan. Now it had been almost 2 months since the incident & yet I still unable to cancel the plan. Just like what my mum said, he was trying to delay the time purposely. I wonder should I get a lawyer to sue him. I wonder how many have become victims before me. I really really regret for trusting ppl easily...... I really reallly need help to cancel off this plan as soon as possible..... if I know it is an insurance plan, I will never sign for it.......how stupid I am....
*
stop paying, then send an email to cancel the insurance. state policy number and your name /ic in the email.
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apagranpa10
post Mar 22 2012, 01:09 PM


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QUOTE(rayla_ @ Jul 22 2011, 01:14 PM)
Sorry, I'm facing some problems with this plan. Wishing for somebody to guide me cancel off this plan.
Last month, when I went to CIMB bank, a guy who claimed himself a financial consultant who working in the bank introduced this plan to me. But he cheated me that this 'plan' is a saving account instead of telling me it is an insurance plan in fact. Yet he still said that the different btwn this account with normal saving account is no interest will be given but dividen will be given to us every 3 yrs. He lied to me there is no t&c applied & wanted me to sign a form but without letting me read through the form. Stupidly, I thought it is really a saving account & signed for it. When I did some researches at home, I found that I had been cheated & wanted to cancel off the plan. I returned to him the next day but he told me he already signed up the plan for me, & if I wished to cancel, I had to wait till the policy letter coming. According to my research, suppose he cannot sign up for me coz my personal details will be needed to fill in the form, but then I just realized that he simply filled in the details for me in order to sign me up by that day. Then he wanted me to wait for the policy letter to come in 2 weeks time. When I argued with him why he cheated me to sign the form, he still dare to told me that it is NOT an insurance, but saving (& he plus the words 'protection' which he didn't mention yesterday). After 2 weeks, I still didn't see any letter coming & came back to him, found that he did nthg at all to help me cancel off the plan. Now it had been almost 2 months since the incident & yet I still unable to cancel the plan. Just like what my mum said, he was trying to delay the time purposely. I wonder should I get a lawyer to sue him. I wonder how many have become victims before me. I really really regret for trusting ppl easily...... I really reallly need help to cancel off this plan as soon as possible..... if I know it is an insurance plan, I will never sign for it.......how stupid I am....
*
Surprisingly this is how they sell "Bijak" Malaysia doh.gif
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zentq
post Mar 26 2012, 08:41 PM


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I'm just sign for bijak malaysia... but I'm yet not paying first payment..... I want to cancel it..... do I need to terminate or just don't pay
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MNet
post Mar 27 2012, 01:53 AM


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bank will auto deduct $ from ur bank acc
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zentq
post Mar 27 2012, 09:26 AM


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My account bank is RM 17 ringgit no money.. I will terminate that account also....bahaha....


Added on March 27, 2012, 9:36 amactually I don't make any payment.... if this effect my other account bank....or just account bank that I have register with bijak malaysia..... waa they told to me it saving plan.... I will not follow any insurance plan....

This post has been edited by zentq: Mar 27 2012, 09:36 AM
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wtwdavid
post Apr 1 2012, 04:33 PM


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I been cheat by RHB on this plan. What can I do? Go to Bank Negara then divert to NIAM, after that divert to MAA, useless and hopeless now. Lost all the money.
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roystevenung
post May 21 2012, 05:30 PM


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QUOTE(wtwdavid @ Apr 1 2012, 04:33 PM)
I been cheat by RHB on this plan. What can I do? Go to Bank Negara then divert to NIAM, after that divert to MAA, useless and hopeless now. Lost all the money.
*
It is always sad that banks nowadays are trying to sell you 'savings' plans that are indeed 'insurance' plans. My mum in law was one of the victims a year ago and the bank officer told her that her FD is no good returns, so she withdraw all of her FD and put it to the insurance plan.

Now after a year I followed her to the bank. Guess what the bank officer said? "Maam, I already told you this is insurance plan, not savings plan"

I'm an insurance agent myself and I'm shy to say my own mum in law got cheated by irresponsible Maybank officer.

I've been telling people that if they are looking for pure savings plans, go to banks and if investments go to people who only do pure investments and not insurance.

If you want to look for protection, yes, come to us people who sells insurance.

I guess I had had thrown my own mum in law into the lions den and watching her get mauled by those irresponsible agents is no fun.

This post has been edited by roystevenung: May 21 2012, 05:36 PM
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Repture
post May 31 2012, 10:56 AM


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if i lose the policy, what can i do?
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roystevenung
post May 31 2012, 11:11 AM


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QUOTE(Repture @ May 31 2012, 10:56 AM)
if i lose the policy, what can i do?
*
If you're a Prudential Customer then you'll need to submit the Statutory Declaration Form with a RM10 stamp duty to our nearest branch. Reprinting fees of RM 30 will be charged.

I can email the Statutory Declaration Form to if you're a Prudential Customer. Pm to me your email address.
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Repture
post May 31 2012, 11:31 AM


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haha, sorry, i mean that bijak plan...

btw, thanks for you info
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roystevenung
post May 31 2012, 11:47 AM


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QUOTE(Repture @ May 31 2012, 11:31 AM)
haha, sorry, i mean that bijak plan...

btw, thanks for you info
*
In that case you'll need to walk in or call the concern parties from where you got that Bijak Malaysia plan.

http://www.niam.org.my/bijakmalaysia.html
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xeonn
post May 31 2012, 11:49 AM


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QUOTE(Repture @ May 31 2012, 11:31 AM)
haha, sorry, i mean that bijak plan...

btw, thanks for you info
*
Just refer back to the branch where u purchase the plan .. they will help u to fill up the declaration of lost policy:)
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deejay220989
post Jun 14 2012, 04:48 PM


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Can someone enlighten me..I dun see what is not good about this plan..

I'm 23 years old (male). If I pay RM200 every month, every 3 years I will get RM1445.

From age 23-55 (33 years), I pay RM200 x 12 x 33 = RM79,200

Then, I will get from age 23-88 (66 years), (RM3,035 x 22) + RM60,700 = RM127,470


Besides, if you die due to natural causes from age 56 onwards, you get 100% of SA.

Why people think that this plan is cheating or whatsoever?
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haur
post Jun 14 2012, 06:07 PM


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deejay220989, if you are in Penang, I can go through with you the pros and cons of this Bijak Malaysia. I will share with you what i've searched from the market that is suitable for our savings. Drop me a PM if anybody needs a sharing on this kind of savings as I almost sign up for this Bijak Malaysia from a CIMB officer! Thank God!
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roystevenung
post Jun 14 2012, 07:23 PM


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QUOTE(deejay220989 @ Jun 14 2012, 04:48 PM)
Can someone enlighten me..I dun see what is not good about this plan..

I'm 23 years old (male). If I pay RM200 every month, every 3 years I will get RM1445.

From age 23-55 (33 years), I pay RM200 x 12 x 33 = RM79,200

Then, I will get from age 23-88 (66 years), (RM3,035 x 22) + RM60,700 = RM127,470
Besides, if you die due to natural causes from age 56 onwards, you get 100% of SA.

Why people think that this plan is cheating or whatsoever?
*
At 55, what is the projection that you get?
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Aurora chanusha
post Jun 25 2012, 09:51 PM


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Hey, I have few doubts about the Bijak Malaysia scheme..
For example, if i pay RM 100 per month so after 3 years total will sum up to RM 3600..
And after 3 years, bank will give the RM 1500 as the payout..
So if i want to terminate the account, would i get my RM3600 back with the RM1500? Or my RM 3600 will be burnt..
Cz i was been told as saving..
Pls clear my doubt..
Thank you
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cherroy
post Jun 25 2012, 10:00 PM


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QUOTE(Aurora chanusha @ Jun 25 2012, 09:51 PM)
Hey, I have few doubts about the Bijak Malaysia scheme..
For example, if i pay RM 100 per month so after 3 years total will sum up to RM 3600..
And after 3 years, bank will give the RM 1500 as the payout..
So if i want to terminate the account, would i get my RM3600 back with the RM1500? Or my RM 3600 will be burnt..
Cz i was been told as saving..
Pls clear my doubt..
Thank you
*
Please scroll through the earlier page, it had been explained before.

You won't get back the premium paid if it is an early or premature cancellation.
The amount that can be recouped back depended on the how many years the policy has been running.

It is not a saving account, do not treat it as same as saving account.

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roystevenung
post Jun 26 2012, 08:23 AM


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QUOTE(Aurora chanusha @ Jun 25 2012, 09:51 PM)
Hey, I have few doubts about the Bijak Malaysia scheme..
For example, if i pay RM 100 per month so after 3 years total will sum up to RM 3600..
And after 3 years, bank will give the RM 1500 as the payout..
So if i want to terminate the account, would i get my RM3600 back with the RM1500? Or my RM 3600 will be burnt..
Cz i was been told as saving..
Pls clear my doubt..
Thank you
*
Okay, lets dissect this product, shall we? :-)

http://www.maybank2u.com.my/WebBank/eINS_BijakMsia_bch.pdf

I'm using the RM 200/mth for Mr. A, Male age 30. Sum Insured = RM51,100
Payment term is up till age 55 (pay for 25 years), RM 2400/year = RM 60,000 premium paid

If Mr. A terminate the plan prematurely at age 55, he'll not get the maturity benefit of the sum insured hence, no choice, Mr. A will still needs to eat Kenny Rogers everyday till age 88. The brochure however did not mention how much would Mr. A get if he choose to terminate the plan at 55. (Con)

However, if he kicks the bucket earlier, his nominees would get up to 200% for Natural death, up to 400% if the death was accidental. (policy in force for 3 years~55). This means if Mr. A dies of natural death the plan would pay RM 51100 x 2 = RM 102,200 plus whatever guaranteed payout that has been given (Pro)

If the death was accidental, his nominees would get RM204,400 (Pro). *Juvenile lien still applies if it was under child policy.
(Pro +2)

There is a guaranteed cash payout of 5% every 3 years. 5% / 3 = 1.67% per annum. The interest rate is slightly higher than the interest rate of a bank savings account. (Con)

Lets say Mr. A leads a healthy life and manage to complete the term till age 88 years old (although Mr. A might burn a big hole in his pocket for eating healthier food).

Total Premium Paid (age 31~age 55): Rm 60,000
Term (age 31~age 88): 58 years

Sum Insured: RM 51,100
Guaranteed Cash Payout (for triennial for 58 years): Rm 48,545

Total Cash Received at age 88: RM 51,100 + RM 48,545 = RM 99,645

Total Returns of Investment = RM 39,645
Returns of Investment = 66.08%
Simple Annualized ROI = 1.14%
Compounded Annualized ROI (per annum) = 0.88%

Jokes aside, and in summary, this plan is geared towards insurance & protection and it is stated in the brochure clearly. In all seriousness there is not a single phrase that states that it is geared for savings that gives you exorbitant interest.

Buy it for the protection values, not savings... HTH

Excerpt from the brochure...

"2. The policy shall not have a guaranteed minimum cash value on termination until after you have paid premiums for three (3) full years."

Based on the above example, at year 3, Mr. A will get RM2,555 after paying RM 7,200 (RM 2,400 x 3). But if he terminates the plan at year 3, he won't get back RM 7,200+RM2,555, but rather RM 2,555 + guaranteed minimum cash value.

This post has been edited by roystevenung: Jun 26 2012, 09:32 AM
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Netto Hikari
post Jun 26 2012, 10:48 AM


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QUOTE(roystevenung @ Jun 26 2012, 08:23 AM)
Okay, lets dissect this product, shall we? :-)

http://www.maybank2u.com.my/WebBank/eINS_BijakMsia_bch.pdf

I'm using the RM 200/mth for Mr. A, Male age 30. Sum Insured = RM51,100
Payment term is up till age 55 (pay for 25 years), RM 2400/year = RM 60,000 premium paid

If Mr. A terminate the plan prematurely at age 55, he'll not get the maturity benefit of the sum insured hence, no choice, Mr. A will still needs to eat Kenny Rogers everyday till age 88. The brochure however did not mention how much would Mr. A get if he choose to terminate the plan at 55. (Con)

However, if he kicks the bucket earlier, his nominees would get up to 200% for Natural death, up to 400% if the death was accidental. (policy in force for 3 years~55). This means if Mr. A dies of natural death the plan would pay RM 51100 x 2 = RM 102,200 plus whatever guaranteed payout that has been given (Pro)

If the death was accidental, his nominees would get RM204,400 (Pro). *Juvenile lien still applies if it was under child policy.
(Pro +2)

There is a guaranteed cash payout of 5% every 3 years. 5% / 3 = 1.67% per annum. The interest rate is slightly higher than the interest rate of a bank savings account. (Con)

Lets say Mr. A leads a healthy life and manage to complete the term till age 88 years old (although Mr. A might burn a big hole in his pocket for eating healthier food).

Total Premium Paid (age 31~age 55): Rm 60,000
Term (age 31~age 88): 58 years

Sum Insured: RM 51,100
Guaranteed Cash Payout (for triennial for 58 years): Rm 48,545

Total Cash Received at age 88: RM 51,100 + RM 48,545 = RM 99,645

Total Returns of Investment = RM 39,645
Returns of Investment = 66.08%
Simple Annualized ROI = 1.14%
Compounded Annualized ROI (per annum) = 0.88%

Jokes aside, and in summary, this plan is geared towards insurance & protection and it is stated in the brochure clearly. In all seriousness there is not a single phrase that states that it is geared for savings that gives you exorbitant interest.

Buy it for the protection values, not savings... HTH

Excerpt from the brochure...

"2. The policy shall not have a guaranteed minimum cash value on termination until after you have paid premiums for three (3) full years."

Based on the above example, at year 3, Mr. A will get RM2,555 after paying RM 7,200 (RM 2,400 x 3). But if he terminates the plan at year 3, he won't get back RM 7,200+RM2,555, but rather RM 2,555 + guaranteed minimum cash value.
*
hi, could u enlighten me about the sum assured and 5% GCP? from the brochure, the sum assured is reducing annually, so which lead to the GCP reduce every 3 yrs.

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roystevenung
post Jun 26 2012, 11:07 AM


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QUOTE(Netto Hikari @ Jun 26 2012, 10:48 AM)
hi, could u enlighten me about the sum assured and 5% GCP? from the brochure, the sum assured is reducing annually, so which lead to the GCP reduce every 3 yrs.
*
The sum insured is reducing annually for a good reason. Insurance charges is based on the risk ratio vs the claim ratio. In short, the older we get the more prone are we to sickness.

Hence if you were to take up the plan at later years, the payout will not be as attractive as the insurance charge for older age is higher.

By the way, I don't sell Bijak Malaysia plan. I'm just trying to help people understand the plan. To save till age 55 and to maintain the plan up to 88 years is after all a very long time.

This post has been edited by roystevenung: Jun 26 2012, 11:12 AM
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Netto Hikari
post Jun 26 2012, 11:54 AM


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QUOTE(roystevenung @ Jun 26 2012, 11:07 AM)
The sum insured is reducing annually for a good reason. Insurance charges is based on the risk ratio vs the claim ratio. In short, the older we get the more prone are we to sickness.

Hence if you were to take up the plan at later years, the payout will not be as attractive as the insurance charge for older age is higher.

By the way, I don't sell Bijak Malaysia plan. I'm just trying to help people understand the plan. To save till age 55 and to maintain the plan up to 88 years is after all a very long time.
*
this plan sux, annual ROI is less than 1% and assume that we can live that long! the only good point is when u died, the money goes to the surviving ppl is double. means, in the end, u cant enjoy the money unless u r a zombie. but hack, zombie will only think of eating brains and gut out of living thing, they dont even think of how to enjoy the money dry.gif

This post has been edited by Netto Hikari: Jun 26 2012, 11:55 AM
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roystevenung
post Jun 26 2012, 05:35 PM


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QUOTE(Netto Hikari @ Jun 26 2012, 11:54 AM)
this plan sux, annual ROI is less than 1% and assume that we can live that long! the only good point is when u died, the money goes to the surviving ppl is double. means, in the end, u cant enjoy the money unless u r a zombie. but hack, zombie will only think of eating brains and gut out of living thing, they dont even think of how to enjoy the money dry.gif
*
I don't sell this plan sweat.gif

Since there were so many confusions and questions on this plan, I'm merely providing an in depth review on the plan. Please don't flame whistling.gif


Added on June 26, 2012, 7:36 pm
QUOTE(deejay220989 @ Jun 14 2012, 04:48 PM)
Can someone enlighten me..I dun see what is not good about this plan..

I'm 23 years old (male). If I pay RM200 every month, every 3 years I will get RM1445.

From age 23-55 (33 years), I pay RM200 x 12 x 33 = RM79,200

Then, I will get from age 23-88 (66 years), (RM3,035 x 22) + RM60,700 = RM127,470
Besides, if you die due to natural causes from age 56 onwards, you get 100% of SA.

Why people think that this plan is cheating or whatsoever?
*
Total Premium Paid (age 23~age 55): Rm 79,200
Term (age 23~age 88): 66 years

Sum Insured: RM 60,700
Guaranteed Cash Payout (for triennial for 66 years): Rm 66,770

Total Cash Received at age 88: RM 60,700 + RM 66,770 = RM 127,470

Total Returns of Investment = RM 48,270
Returns of Investment = 60.95%
Simple Annualized ROI = 0.92%
Compounded Annualized ROI (per annum) = 0.72%

This post has been edited by roystevenung: Jun 26 2012, 07:36 PM
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nightzstar
post Jun 27 2012, 03:53 PM


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i can get back the money provided it is within 14 days after purchasing it?
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roystevenung
post Jun 27 2012, 04:20 PM


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QUOTE(nightzstar @ Jun 27 2012, 03:53 PM)
i can get back the money provided it is within 14 days after purchasing it?
*
Excerpt from the brochure...

8. You are given a “Free-Look Period” of fifteen (15) days to review the suitability of your newly purchased insurance plan after delivery of the policy contract. If you return the policy contract to the Insurer during this period, all premiums paid (less any medical examination fees) will be refunded to you and this policy contract shall be cancelled

Take note it mention "after delivery of the policy contract". This means that if the policy was done in Jan 2012 and you've only received the policy contract in Jun 2012, the 15 days free look period is calculated starting from Jun 2012.

Hence whenever you receive the policy document, put a signature with date stamp as proof :-)

HTH

This post has been edited by roystevenung: Jun 27 2012, 04:23 PM
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nightzstar
post Jun 27 2012, 04:41 PM


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QUOTE(soonlee33 @ Apr 7 2011, 05:50 PM)
How to terminate?
Today I went to cimb to open a savimg account
Den 1 of the staff promote this plan to me by claiming this a saving plan!  Zzz
He said pay hundred monthly for 3years and u wwill get the 5% interest return
So I signed the agreement and now I felt regret  sad.gif
Pls advice
*
QUOTE(roystevenung @ Jun 27 2012, 04:20 PM)
Excerpt from the brochure...

8. You are given a “Free-Look Period” of fifteen (15) days to review the suitability of your newly purchased insurance plan after delivery of the policy contract. If you return the policy contract to the Insurer during this period, all premiums paid (less any medical examination fees) will be refunded to you and this policy contract shall be cancelled

Take note it mention "after delivery of the policy contract". This means that if the policy was done in Jan 2012 and you've only received the policy contract in Jun 2012, the 15 days free look period is calculated starting from Jun 2012.

Hence whenever you receive the policy document, put a signature with date stamp as proof :-)

HTH
*
ok thks, i been to cimb and she said the policy not yet done, so after i received the policy then only i can proceed for refund right?
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roystevenung
post Jun 27 2012, 05:01 PM


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QUOTE(nightzstar @ Jun 27 2012, 04:41 PM)
ok thks, i been to cimb and she said the policy not yet done, so after i received the policy then only i can proceed for refund right?
*
I'm not sure how the bank's operate but if its under the proposal stage, and if client ask to cancel, I'd honor the client's request and withdraw the proposal because not only it saves on the policy document printing, it also saves everyone's time.

No point for deliver the policy and let the client exercise cooling off period.

The insurance policy is a long term commitment hence, getting your doubts cleared before you inked on the proposal form is vital.
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nightzstar
post Jun 27 2012, 09:43 PM


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QUOTE(roystevenung @ Jun 27 2012, 05:01 PM)
I'm not sure how the bank's operate but if its under the proposal stage, and if client ask to cancel, I'd honor the client's request and withdraw the proposal because not only it saves on the policy document printing, it also saves everyone's time.

No point for deliver the policy and let the client exercise cooling off period.

The insurance policy is a long term commitment hence, getting your doubts cleared before you inked on the proposal form is vital.
*
i see, cant la i have too much edi. 1 is enuf.
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jasonchg86
post Nov 24 2012, 11:09 AM


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QUOTE(saimatkong @ Sep 5 2007, 12:40 PM)
What do you all think about this plan ?

user posted image
It's most certainly not just another whole life insurance plan.

Indeed, Bijak Malaysia is a bancassurance product engineered to meet your growing life protection needs, whatever your age and station in life may be.

Choose to insure your life and that of your loved ones from as young as 30 days right up to the age of 53, all at the convenience of affordably priced premiums.

A non-participating whole life plan with limited premium payment (up until 55 years old, the typical retirement age in Malaysia), it provides comprehensive coverage against death as well as Total and Permanent Disability (TPD) due to natural and accidental causes.

Unique Features
.  Whole life superior protection coverage
.  Affordable monthly premiums (RM100, RM200, RM300 & RM500)
.  Extra protection coverage during productive/working years
.  Guaranteed Triennial Cash Payment for life @ 5% of Sum Assured until age 88
.  Guaranteed Maturity Benefit (Full Sum Assured is payable)
.  Pre-packaged, easy enrollment & hassle free (only requires a simple health declaration to get started)
.  Initiated by the National Insurance Association of Malaysia (NIAM)

What looks like a perfect life today may not remain that way forever, especially if you don't plan your whole life insurance needs well. So get the protection coverage you need with Bijak Malaysia. With Maybank.

more details
*
May i know what is the different between Bijak Malaysia and
National Union of Bank Employees collaboration with Great Eastern Life Insurance (Malaysia) Berhad
- They offer premium RM 1.83 per day or (RM33 per month)
- The agent is psmaniampsm@yahoo.com
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SamyYap
post Mar 4 2013, 09:40 PM


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If I wanna terminate the plan, how much is the penalty?
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SamyYap
post Mar 4 2013, 10:00 PM


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QUOTE(ahpoh @ Jul 26 2009, 03:16 PM)
i bought it after 3 month i terminate it, because is total a waste if you look at the long term. sorry i do not know how to explain it, in the long term you will make a loss calculated by my relative
*
sorry, how much you paid for the termination? I fell for it and i dunno tat, now after 1 week i oredi wanna terminate it
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MaxWealth
post Mar 4 2013, 11:44 PM


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QUOTE(SamyYap @ Mar 4 2013, 10:00 PM)
sorry, how much you paid for the termination? I fell for it and i dunno tat, now after 1 week i oredi wanna terminate it
*
You can terminate and get full refund less medical examination fees ( if available) within 15 days you get ur policy. But before terminate, consult with your agent and make sure you know the pro and cons doing so. thanks!
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klthor
post Mar 5 2013, 01:43 AM


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1 word, force yourself to put rm100 into ur bank and transfer in to FD when it reaches Rm1k. this plan sux max.
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SamyYap
post Mar 5 2013, 09:15 AM


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QUOTE(MaxWealth @ Mar 4 2013, 11:44 PM)
You can terminate and get full refund less medical examination fees ( if available) within 15 days you get ur policy. But before terminate, consult with your agent and make sure you know the pro and cons doing so. thanks!
*
But if i wanna terminate it, just go to the branch will do right?
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SamyYap
post Mar 5 2013, 09:30 AM


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QUOTE(MaxWealth @ Mar 4 2013, 11:44 PM)
You can terminate and get full refund less medical examination fees ( if available) within 15 days you get ur policy. But before terminate, consult with your agent and make sure you know the pro and cons doing so. thanks!
*
when will I got my policy? he didn't give me any policy then charge me RM200
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MaxWealth
post Mar 5 2013, 01:31 PM


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QUOTE(SamyYap @ Mar 5 2013, 09:30 AM)
when will I got my policy? he didn't give me any policy then charge me RM200
*
When you sign the plan? 1-2months time to get the policy is normal.
Yes. go branch will do.
For application purpose, they will charge first. Normal procedure, dont worry.

But before that, do analyze on why you want to terminate it etc. What is the pro and cons of this plan. does it really not suit u etc.
thanks
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SamyYap
post Mar 5 2013, 02:34 PM


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QUOTE(MaxWealth @ Mar 5 2013, 01:31 PM)
When you sign the plan? 1-2months time to get the policy is normal.
Yes. go branch will do.
For application purpose, they will charge first. Normal procedure, dont worry.

But before that, do analyze on why you want to terminate it etc. What is the pro and cons of this plan. does it really not suit u etc.
thanks
*
I signed it last week, just now I went to the Maybank branch, in the counter stated Bijak Malaysia, the lady asked me fill up the etiqa surrender form. and she asked me to take out all my money from the account, and wait for 14 working days, and I will got informed. anything I left out? or anything wrong here?
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MaxWealth
post Mar 5 2013, 03:37 PM


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QUOTE(SamyYap @ Mar 5 2013, 02:34 PM)
I signed it last week, just now I went to the Maybank branch, in the counter stated Bijak Malaysia, the lady asked me fill up the etiqa surrender form. and she asked me to take out all my money from the account, and wait for 14 working days, and I will got informed. anything I left out? or anything wrong here?
*
You can get your proposal/policy number via that counter? If can after fill in and submit should be ok. They will refund the debited RM 200 to you once they have process everything.
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SamyYap
post Mar 28 2013, 11:15 AM


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Hey guys, i cancelled it, they send me a letter which is good, and saying refund RM200, but the problem is, they said they enclosed with a check number:xxxxxxx, but there's no check inside the envelope ==..... wat m i gonna do?
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SamyYap
post Mar 28 2013, 11:17 AM


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QUOTE(MaxWealth @ Mar 5 2013, 03:37 PM)
You can get your proposal/policy number via that counter? If can after fill in and submit should be ok. They will refund the debited RM 200 to you once they have process everything.
*
They said they enclosed with a check(with number), but no check inside, mean they will debit the money to me kan?
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MaxWealth
post Mar 28 2013, 11:36 AM


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QUOTE(SamyYap @ Mar 28 2013, 11:17 AM)
They said they enclosed with a check(with number), but no check inside, mean they will debit the money to me kan?
*
hmm, suppose if they say cheque, then you should receive a cheque. How about try searching any number in the letter so that you can ask them to clarify for u?
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SamyYap
post Mar 28 2013, 12:24 PM


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QUOTE(MaxWealth @ Mar 28 2013, 11:36 AM)
hmm, suppose if they say cheque, then you should receive a cheque. How about try searching any number in the letter so that you can ask them to clarify for u?
*
n yes, there's a cheque number, but wat can i do about it? shakehead.gif
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MaxWealth
post Mar 28 2013, 12:30 PM


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QUOTE(SamyYap @ Mar 28 2013, 12:24 PM)
n yes, there's a cheque number, but wat can i do about it?  shakehead.gif
*
call them and ask lo. i mean search for a contact number in the letter.
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SamyYap
post Mar 29 2013, 02:21 PM


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QUOTE(MaxWealth @ Mar 28 2013, 12:30 PM)
call them and ask lo. i mean search for a contact number in the letter.
*
called.... asked alot of questions, den pass to another 1, den ask question again ==... same question, phone bo credit liao, wat kind of CS is tat!!! vmad.gif
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MaxWealth
post Mar 29 2013, 02:27 PM


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QUOTE(SamyYap @ Mar 29 2013, 02:21 PM)
called.... asked alot of questions, den pass to another 1, den ask question again ==... same question, phone bo credit liao, wat kind of CS is tat!!! vmad.gif
*
Hmm, what you ask?

You just tell them you cancel the policy, and they send you a mail. In the letter, it stated there will be a cheque attached. But you didn't receive the cheque lo. Ask them what happen and how can they assist you.
Then i think you will get the answer you want.hehe
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SamyYap
post Mar 29 2013, 04:02 PM


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QUOTE(MaxWealth @ Mar 29 2013, 02:27 PM)
Hmm, what you ask?

You just tell them you cancel the policy, and they send you a mail. In the letter, it stated there will be a cheque attached. But you didn't receive the cheque lo. Ask them what happen and how can they assist you.
Then i think you will get the answer you want.hehe
*
yea exactly wat u told.... , 2nd time i called they transfer my call to maybank, due to work, i cant hold long so i close and i go to Maybank via facebook, if still not solved i might go to the maybank branch again..
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MaxWealth
post Mar 29 2013, 04:51 PM


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QUOTE(SamyYap @ Mar 29 2013, 04:02 PM)
yea exactly wat u told.... , 2nd time i called they transfer my call to maybank, due to work, i cant hold long so i close and i go to Maybank via facebook, if still not solved i might go to the maybank branch again..
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all the best to u!!
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saimatkong
post Apr 10 2013, 01:16 PM


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thinking to cancel now, it's 6th year and will be getting my 3k back by end of the year but if I cancel now will get back the amount?
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oonchuankah
post Jul 14 2013, 07:29 PM


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Hi, Last year 26 June I signed up this plan and I would like to terminate it now. WIll I get back the money if I terminate now? Cause the policy showing 1st, 2nd and 3rd year has 0 cash value and Paid up value?? Need your advise badly. sad.gif
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saimatkong
post Jul 15 2013, 07:50 AM


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QUOTE(oonchuankah @ Jul 14 2013, 07:29 PM)
Hi, Last year 26 June I signed up this plan and I would like to terminate it now. WIll I get back the money if I terminate now? Cause the policy showing 1st, 2nd and 3rd year has 0 cash value and Paid up value?? Need your advise badly. sad.gif
*
call n check with the bank.
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nightzstar
post Jul 16 2013, 07:41 AM


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QUOTE(saimatkong @ Jul 15 2013, 07:50 AM)
call n check with the bank.
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you already cancelled?
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roystevenung
post Jul 17 2013, 06:42 PM


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QUOTE(nightzstar @ Jul 16 2013, 07:41 AM)
you already cancelled?
*
http://www.maybank2u.com.my/mbb_info/m2u/p.../INV-Investment

Sadly this plan appears under the "Investment" subsection .... Bijak punya Bank, trying to sell insurance plan as investment.
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nightzstar
post Jul 18 2013, 07:50 AM


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QUOTE(roystevenung @ Jul 17 2013, 06:42 PM)
http://www.maybank2u.com.my/mbb_info/m2u/p.../INV-Investment

Sadly this plan appears under the "Investment" subsection .... Bijak punya Bank, trying to sell insurance plan as investment.
*
haih, really not worth it, after 55 year old, what is the value of the money given after considering the effect of inflation. shakehead.gif
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roystevenung
post Jul 18 2013, 08:02 AM


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QUOTE(nightzstar @ Jul 18 2013, 07:50 AM)
haih, really not worth it, after 55 year old, what is the value of the money given after considering the effect of inflation.  shakehead.gif
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thumbup.gif
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XeLLisCompleX
post Jul 23 2013, 09:11 AM


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anyone know how to terminate this plan? i also want to terminate this.. seem not worth it. and can i get my money back?
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roystevenung
post Jul 24 2013, 07:54 PM


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QUOTE(XeLLisCompleX @ Jul 23 2013, 09:11 AM)
anyone know how to terminate this plan? i also want to terminate this.. seem not worth it. and can i get my money back?
*
When you buy insurance, you are actually buying the associated cover based on the plan being proposed. It is NOT FREE, and if you cancel it, you may get back some money, but not all of it.

To know how much you can get back, you need to bring the policy book to counter and enquire.
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DarReNz
post Jul 30 2013, 03:11 PM


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my friend just terminate this after 2 years get nothing back !
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roystevenung
post Aug 1 2013, 12:21 PM


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QUOTE(DarReNz @ Jul 30 2013, 03:11 PM)
my friend just terminate this after 2 years get nothing back !
*
Not even a single cent?
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DarReNz
post Aug 2 2013, 10:26 AM


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QUOTE(roystevenung @ Aug 1 2013, 12:21 PM)
Not even a single cent?
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yeah called up and they inform zilch
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dumb1
post Apr 2 2014, 03:53 AM


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Sorry to dig up this old thread. I was at CIMB yesterday 1st Apr and was introduced Bijak Malaysia. I thought it is a good policy but there is so much negative views in this thread that I am thinking twice about signing up.

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dumb1
post Apr 4 2014, 03:38 AM


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QUOTE(dumb1 @ Apr 2 2014, 04:53 AM)
Sorry to dig up this old thread. I was at CIMB yesterday 1st Apr and was introduced Bijak Malaysia. I thought it is a good policy but there is so much negative views in this thread that I am thinking twice about signing up.
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After studying the plan, I think it's a lousy plan after age 54. You get what you pay and nothing more and worst the longer you live if you factor interest in your premium.
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BleSSer90
post Yesterday, 12:29 AM


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Err.. if i wan terminate this plan i just will get the 5% of the sum assured? It stated that guaranteed of 5% of the sum assured is payable to the policy owner every 3 year..

My sum assured is Rm 32.100.00
so 5%= Rm 1.605
how about rest of my money..? will i get back my Rm3.6k?
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ExpZero
post Yesterday, 09:52 PM


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QUOTE(BleSSer90 @ Apr 15 2014, 12:29 AM)
Err.. if i wan terminate this plan i just will get the 5% of the sum assured? It stated that guaranteed  of 5% of the sum assured is payable to the policy owner every 3 year..

My sum assured is Rm 32.100.00
so 5%= Rm 1.605
how about rest of my money..? will i get back my Rm3.6k?
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Look at the surrender value in your policy.
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MNet
post Yesterday, 09:56 PM


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how much u pay per years?
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