Hmm., so complicated, better stay away. There are so many investment products out there. Which ever is complicated should be given a miss.
eTiQa saving "8%" interest oo...
eTiQa saving "8%" interest oo...
|
May 8 2008, 01:14 PM
|
Validating
338 posts Joined: May 2008 |
Hmm., so complicated, better stay away. There are so many investment products out there. Which ever is complicated should be given a miss.
|
|
|
|
May 8 2008, 03:17 PM
|
Senior Member
767 posts Joined: Feb 2008 From: Beverly Hills |
QUOTE(yamatehhh @ Apr 25 2008, 07:37 PM) etiqa is a new product which merged by mayban fortis (assurance,insurance,takaful), mni insurance, takaful national (5 companies) i know this cuz someone approach me to be the agent ... 8% interest u can earn every year.. anyone who interested in saving.. u may please to leave me mes here.. i would like to explain more to you.. thnx so much.. i mean as agent, you kinda earn a lot of commission too |
|
May 9 2008, 09:53 AM
|
Junior Member
350 posts Joined: Jun 2005 From: kajang |
given a situation:
someone sign up for EtiQa and paid the rm300 for the 1st 3months. During that 3 months, he/she feels that EtiQa wasn't the plan he/she wants. What procedures that need to go through and will they get refund of rm300? Bcoz currently I have a friend who is facing this problem and the agent kept on asking my friend to make the savings... pls help... and don't flame me for asking noob questions. |
|
May 9 2008, 12:53 PM
|
Junior Member
46 posts Joined: May 2008 |
I met with EtiQa agent last week, "We ask u to save, we're not insurance"!! Be frank, insurance institutes launched such products 5years ago just publics reject them when they been told "We are from ING,AIA,GE and so..."
EtiQa's agent told u will have average 8% return and we invest in halal-field such national projects, petronas... When i ask for details, they said if company performance is 6% then u have 6%,if performance 12%,u get 12%! This is not a pure savings! IS INVESTMENT !! Only investment where investor need to bare the financial risk, earn less if return less, earn more if return more. If savings, no matter how great or how bad the economic and market, u will guarantee enjoyed ur return as promised when u first deposit ur money personal opinion, no offense to any1... |
|
May 11 2008, 12:46 AM
|
Junior Member
10 posts Joined: May 2008 |
"given a situation:
someone sign up for EtiQa and paid the rm300 for the 1st 3months. During that 3 months, he/she feels that EtiQa wasn't the plan he/she wants. What procedures that need to go through and will they get refund of rm300?" if u took a islamic insurance plan with etiqa takaful berhad then NO HOPE of any REFUND because 100% of monies in first 12 months is DONATED to insurance fund ( POOLED RISK FUND ) Added on May 11, 2008, 12:50 amagent MISREPRESENTED THE COMPANY AND PRODUCT. PLEASE COMPLAIN ITS YOUR RIGHT. This post has been edited by kingzdiamond: May 11 2008, 12:50 AM |
|
May 11 2008, 04:03 AM
|
Junior Member
168 posts Joined: Feb 2007 From: kuantan, mmu melaka |
since some of u didnt understand islamic part, i try to explain in simple way..
example: bank A (conventional) fix 4% per year bank B (islamic) random 0-8% per year why bank A consider not islamic? it has fix interest..let say bank A got double income/triple..it still pay u 4%.. while bank B pay depend on da income..more profit = more u get.. hope u can have da idea.. btw, mind to elaborate more on etiqa?im quite confuse bout da plan.. |
|
May 15 2008, 09:47 PM
|
Junior Member
10 posts Joined: May 2008 |
tU@n ,
Thanx for the explanation. Etiqa Takaful is an Islamic insurance plan, with a higher protection than conventional insurance, WHY because our premium rates are determined locally unlike other insurance companies, its fairer in the sense we dont charge u interest for monies taken out sinse its your money.. if u are interested we can arrange a NO OBLIGATION presentation for u and friends in KL ONLY k |
|
May 17 2008, 03:15 AM
|
Validating
338 posts Joined: May 2008 |
QUOTE(tU@n @ May 11 2008, 05:03 AM) since some of u didnt understand islamic part, i try to explain in simple way.. example: bank A (conventional) fix 4% per year bank B (islamic) random 0-8% per year why bank A consider not islamic? it has fix interest..let say bank A got double income/triple..it still pay u 4%.. while bank B pay depend on da income..more profit = more u get.. hope u can have da idea.. In your example above, there is still alower limit that bank B will pay, right ? Meaning though the profit earned by bank B is fluctuating, still bank B needs to pay a minimum of, say, 4%, right ? Rather than 0%,..... Normally, what is the norm % that the bank pays out ? |
|
|
|
May 17 2008, 01:10 PM
|
Senior Member
670 posts Joined: Aug 2005 |
QUOTE(kingzdiamond @ May 15 2008, 09:47 PM) tU@n , all investment -link type of products dont charge customer interest when they withdraw their money Thanx for the explanation. Etiqa Takaful is an Islamic insurance plan, with a higher protection than conventional insurance, WHY because our premium rates are determined locally unlike other insurance companies, its fairer in the sense we dont charge u interest for monies taken out sinse its your money.. if u are interested we can arrange a NO OBLIGATION presentation for u and friends in KL ONLY k because they only sell of their units according to market value compare to traditional endowment or whole life policy, there are some percentage of charges involve range from 2%-8% because when we need to use the cash value, we need to make a POLICY LOAN instead of selling of the units like investment-link |
|
May 18 2008, 03:12 PM
|
Junior Member
4 posts Joined: Feb 2007 |
So based on the past historical return performances, the annualized return is about 3% for 30 years include approx of 12 years to break even. This is really usefully information.
Comparing with existing FD 3.7%, you are buying in for extra "protection" and potential upside if the 80% profit sharing is more than FD returns. Thanks, QUOTE(kingzdiamond @ May 6 2008, 11:15 PM) |
|
May 22 2008, 04:53 PM
|
Junior Member
10 posts Joined: May 2008 |
the 80% : 20% profit sharing works this way ; Just say that the operator makes a return of 10% in a particular year, the operator will give the participant 80% Mudharabah ( Islamic term for profit sharing ) to the participant i.e 8%.
In Islamic investment you work out the profit sharing rate ie 80/20, 70/30, 50/50, BUT u are NOT allowed to FIX a return ie 4% or 10% guranteed return Because it becomes RIBA ( INTEREST ). |
|
May 22 2008, 09:07 PM
|
Staff
25,759 posts Joined: Jan 2003 From: Penang |
QUOTE(kingzdiamond @ May 22 2008, 04:53 PM) the 80% : 20% profit sharing works this way ; Just say that the operator makes a return of 10% in a particular year, the operator will give the participant 80% Mudharabah ( Islamic term for profit sharing ) to the participant i.e 8%. Sorry for my noobie question (not familiar with it), what if the bank makes a loss then how? Zero return? In Islamic investment you work out the profit sharing rate ie 80/20, 70/30, 50/50, BUT u are NOT allowed to FIX a return ie 4% or 10% guranteed return Because it becomes RIBA ( INTEREST ). |
|
May 23 2008, 02:51 AM
|
Validating
338 posts Joined: May 2008 |
|
|
May 30 2008, 04:22 AM
|
Junior Member
10 posts Joined: May 2008 |
SO far ( touch wood ) we have NEVER MADE A LOSS.. 1994 to date..
|
|
|
|
Jun 4 2008, 12:27 PM
|
Newbie
2 posts Joined: Jun 2008 |
Article : How Takaful is Different from Insurance
Islamic finance has developed mainly in two directions namely Islamic banking and Islamic insurance (Takaful). While information about Islamic banking is being increasingly disseminated, features, models and structures of Takaful are little known particularly in Pakistan. Purpose of this brief article is to describe main features and models of Takaful system operating in various parts of the world. >> [Read Full Article Here] << |
|
Jul 25 2008, 10:35 PM
|
Junior Member
7 posts Joined: Dec 2007 |
QUOTE(kingzdiamond @ May 8 2008, 12:06 PM) It is A SHARIAH COMPLIANT PRODUCT and ALL INVESTMENTS & INSURANCE IS ALSO SHARIAH COMPLIANT. ALL TAKAFUL OPERATORS ARE SHARIAH COMPLIANT inline with TAKAFUL ACT 1984. TAKAFUL means Insurance in accordance with Shariah ( Islamic Law ). Tabarru' is what i mentioned as POOLED FUND, it is a Voluntary Donation to a fund that pools money for the Insurance Claims. I met an agent just now who told me exactly the same thing as Yamatteh is telling. Exactly the same thing..and when i ask again and again is it an investment ? etc, the answer given is also exactly the same as what Yamatteh is given. I wonder how many agents out there still promoting the product in this unprofessional way....It is not an INVESTMENT PLAN with ANY GURANTEE of SUPER RETURNS ( 7%-10% or whatever ) But an Islamic Insurance Plan Savings Element. Etiqa is a Brand Name for Maybank Insurance Products, ETIQA INSURANCE for Conventional Insurance & ETIQA TAKAFUL for Shariah Based Insurance. Islamic Insurance IS ANY time better and more CONSUMER friendly COMPARED to Conventional Insurance ( sure kena debate one ) Thanks Did they actually attend a training before selling the product. They should answer like what you do instead of with the sole intention of selling the product. Luckily , i feel sth wrong and do not sign up on the spot. Anyway, i think it has good records and worth considering. |
|
Jul 25 2008, 11:05 PM
|
Senior Member
1,032 posts Joined: Nov 2005 From: kuala lumpur |
etiqa insurance sucks...
my car broke down and i call them for service. they ask me ic no, adress and insurance number and long long stupid insurance company |
|
Jul 25 2008, 11:15 PM
|
Elite
5,626 posts Joined: Nov 2004 From: Klang, Selangor |
QUOTE(brp71b @ Jul 25 2008, 10:35 PM) I met an agent just now who told me exactly the same thing as Yamatteh is telling. Exactly the same thing..and when i ask again and again is it an investment ? etc, the answer given is also exactly the same as what Yamatteh is given. I wonder how many agents out there still promoting the product in this unprofessional way.... Actually, they attended TOO many trainings to make them all memorise all the exact answers if potential clients ask them the questions Did they actually attend a training before selling the product. They should answer like what you do instead of with the sole intention of selling the product. Luckily , i feel sth wrong and do not sign up on the spot. Anyway, i think it has good records and worth considering. How else do you think they could give exactly the same answers? Haha. |
|
Jul 26 2008, 08:21 PM
|
Senior Member
1,527 posts Joined: Jan 2008 |
ASB is a more trusted investment vehicle.. unless off course u want pure halal investment.
|
|
Jul 26 2008, 11:22 PM
|
Senior Member
2,247 posts Joined: Jan 2003 From: Kuala Lumpur |
|
Change to: | 0.0227sec
0.28
6 queries
GZIP Disabled
Time is now: 29th March 2024 - 04:24 PM |