Anyone do any research on this product by Prudential under UOB? I tried reading the tnc and could not find any suspicious part. Capital guaranteed. Annual income of 4.8%. Short term 2 years. Better than any fixed deposit return. Please enlighten me. Thank you.

https://www.uob.com.my/personal/insure/digi...uezy-saver.page


Not trying to sell this product but more like trying to find out what is the catchy part of this product before making any decision. Seems too good to be true as Prudential themselve also do not offer such good product.

This post has been edited by Angelpoli: May 24 2023, 10:59 PM

Go read disclaimer

*This consists of Guaranteed Annual Income of 3.00% of Total Premium Paid and campaign payout of 1.80% of Total Premium Paid. It is payable until death/ Total and Permanent Disability (TPD), surrender or maturity of the policy, whichever is earlier and subject to campaign terms and conditions.

The actual payout is only 3% while the 1.8% it is under the campaign top up but I doubt about it as well 🤦‍♀️

Yes. Provided u buy it during the campaign period. Then u entitled for it. Meaning guaranteed 4.8% as per they advertised. I could not find any loopholes they trying to play. Hopefully someone experts at here can enlighten me.

the most suspicious part is where i could not locate the PDS or T&C

is there if you look properly

you plan to find out more? looks good actually...

they untung if rate go sky high as they already lock you in for 4.8%... is a secured cost of finance to them...

Yea. I plan to ask the uob too. 4.8% is quite high at this moment and only lock in period for 2 years. It's from uob. So unlikely is a scam. Just worry there's a catch on it.

Remember to ask and confirm the
"100% capital guarantee at maturity"

thanks...

over at the fd thread... some banks giving 4.35-4.5% fd now... and also some foreign fd even higher... so 4.8% is ok, but max 20k a bit low

I asked. It's confirmed.

Yes. I plan to ask in the fd thread as there are more people replying at that thread. Currently at this moment 4.8% is the highest i think. Previously highest is 4.8% by public bank too and that is last year promo.

The confirmed 100% capital guaranteed upon matury is when the plan continued till maturity... what about half way?
The plan could be for 25 yrs?


The extra 1.8%pa is for 2 yrs only

This post has been edited by MUM: May 25 2023, 01:07 PM

it's a savings endownment plan which typically not worth the time.

Check what is the underlying product under this endowment and if it is bonds beware another CS might happens because underlying asset disclosure

No, the plan is 2 years. Policy and payment terms both 2 years. After 2 years matured u take out all the money.

Yes. It's saving plan. But the return and capital guarantee is similar like fixed deposit which caught my attention and makes it worth the time to understand it.


But it's capital guaranteed. So it's like u put inside fixed deposit. Then they invest in where should be wont affect your guarantee terms unless u void the tnc first or the company or bank bankrupt which then fixed deposit more than 250k also not under insured.

This post has been edited by Angelpoli: May 25 2023, 03:34 PM

Do you have to pay a monthly premium for 2 years ?

It's a yearly premium if not wrong. Minimum 1k, max 20k. U pay 10k this year, then u need prepare another 10k for 2nd year. Anyone please help enlighten me any catchy stuff before i proceed.

I think the catch is your commitment to keep paying up until the term ends. Feels like its slightly better than the 4.5% 24 months FD
Insurance companies sometimes offer these short promos, like AIA did it as well. I think it is for liquidity boost

Do note that they stated the payment method is only limited to Malaysia Debit/Credit Cards, while the payment frequency is charge annually.

I was searching information about this as well, it's not stated in the product disclosure sheet.

High chance the maturity date will takes more than 2 years.

It was mentioned in their T&C, point 6
PAMB shall have the discretion to decide in respect of all matters and disputes concerning this
Campaign in accordance with treating you and other Eligible Customers fairly, including
substituting the campaign payout with other forms of gifts/payouts of equivalent value.

meaning the 1.8% campaign payout may or may not be in cash?