Welcome Guest ( Log In | Register )

16 Pages < 1 2 3 4 5 > » Bottom

Outline · [ Standard ] · Linear+

 eTiQa saving "8%" interest oo...

views
     
Lawyer1
post May 8 2008, 01:14 PM

Casual
***
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.
*devilelle*
post May 8 2008, 03:17 PM

Im aint Me
*****
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)
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 know this cuz someone approach me to be the agent ...
i mean as agent, you kinda earn a lot of commission too brows.gif brows.gif
heloelaine
post May 9 2008, 09:53 AM

Casual
***
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.
Y_yz
post May 9 2008, 12:53 PM

New Member
*
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..." biggrin.gif

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... smile.gif smile.gif smile.gif
kingzdiamond
post May 11 2008, 12:46 AM

New Member
*
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
tU@n
post May 11 2008, 04:03 AM

Getting Started
**
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.. nod.gif

btw, mind to elaborate more on etiqa?im quite confuse bout da plan.. rclxub.gif
kingzdiamond
post May 15 2008, 09:47 PM

New Member
*
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
Lawyer1
post May 17 2008, 03:15 AM

Casual
***
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.. nod.gif


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 ?

Colaboy
post May 17 2008, 01:10 PM

On my way
****
Senior Member
670 posts

Joined: Aug 2005


QUOTE(kingzdiamond @ May 15 2008, 09:47 PM)
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
*
all investment -link type of products dont charge customer interest when they withdraw their money
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
LYNEnthusiast
post May 18 2008, 03:12 PM

New Member
*
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)
....Your Savings will BREAK EVEN approx at THE 12 Year ONWARDS, So its a usefull Saving TOOL BUT MOST IMPORTANT ITS A WONDERFUL PROTECTION TOOL. WE DO OFFER AMONG THE BEST PREMIUM RATES AROUND WITH STRONG BACKING FROM MAYBANK. Annualised Return for 30 Years is APPROX 3%. ( NON GURANTEED)
*
kingzdiamond
post May 22 2008, 04:53 PM

New Member
*
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 ).
cherroy
post May 22 2008, 09:07 PM

20k VIP Club
Group Icon
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%.
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 ).
*
Sorry for my noobie question (not familiar with it), what if the bank makes a loss then how? Zero return?

Lawyer1
post May 23 2008, 02:51 AM

Casual
***
Validating
338 posts

Joined: May 2008
QUOTE(cherroy @ May 22 2008, 10:07 PM)
Sorry for my noobie question (not familiar with it), what if the bank makes a loss then how? Zero return?
*
Good question. Am keen to know too,..........

kingzdiamond
post May 30 2008, 04:22 AM

New Member
*
Junior Member
10 posts

Joined: May 2008
SO far ( touch wood ) we have NEVER MADE A LOSS.. 1994 to date..
instakaful
post Jun 4 2008, 12:27 PM

New Member
*
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] <<
brp71b
post Jul 25 2008, 10:35 PM

New Member
*
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.

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
*
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....
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.
selenium
post Jul 25 2008, 11:05 PM

RipVanWinkle
******
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

Jordy
post Jul 25 2008, 11:15 PM

Entrepreneur
Group Icon
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....
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.
*
Actually, they attended TOO many trainings to make them all memorise all the exact answers if potential clients ask them the questions tongue.gif
How else do you think they could give exactly the same answers? Haha.
myvi5949
post Jul 26 2008, 08:21 PM

Quiet Determination
******
Senior Member
1,527 posts

Joined: Jan 2008


ASB is a more trusted investment vehicle.. unless off course u want pure halal investment.
bbjslee
post Jul 26 2008, 11:22 PM

Benkyo benkyo benkyo
*******
Senior Member
2,247 posts

Joined: Jan 2003
From: Kuala Lumpur


QUOTE(myvi5949 @ Jul 26 2008, 08:21 PM)
ASB is a more trusted investment vehicle.. unless off course u want pure halal investment.
*
ASB not halal?
What is pure halal?

16 Pages < 1 2 3 4 5 > » Top
 

Change to:
| Lo-Fi Version
0.0227sec    0.28    6 queries    GZIP Disabled
Time is now: 29th March 2024 - 04:24 PM