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 PruEzy Saver

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xander2k8
post May 25 2023, 05:32 AM

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QUOTE(Angelpoli @ May 24 2023, 10:58 PM)
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.
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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 🤦‍♀️
xander2k8
post May 25 2023, 02:21 PM

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QUOTE(Angelpoli @ May 25 2023, 10:11 AM)
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.
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Check what is the underlying product under this endowment and if it is bonds beware another CS might happens because underlying asset disclosure
xander2k8
post May 25 2023, 05:18 PM

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QUOTE(Angelpoli @ May 25 2023, 03:33 PM)
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.
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No such thing as capital guaranteed in the 1st place as the fund manager or insurer can go bust anytime 🤦‍♀️

Only those with PIDM insured members can claim that their capital is guaranteed for savings and FD however subject to certain minimum level

Don’t just be blinded by the words of capital guaranteed and slightly higher than FD rate when things can go south easily if you don’t understand on what you are buying 🤦‍♀️ as there are no such thing as capital guaranteed in the 1st place other than actual cash in your bank account 🤦‍♀️

QUOTE(sirius2017 @ May 25 2023, 04:08 PM)
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.

hmm.gif meaning the 1.8% campaign payout may or may not be in cash?
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Definitely won’t be in cash and most likely would be payout in form of reinvested units being distributed
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