Haha, ur example on the "MAY" & "MUST"is cute! but again, it reflect the similarity of the incident I faced too. Do u think the agent who translate wil admit he said "MUST"? Do u think the insurance comp wil stand with & take auntie uncle words or strictly stil insist on tgeir written policy "MAY"?
At the end, u think we can sue the agent til underwear oso lose? or we ourselves r the one with underwear lose actually? ><"

anyhow, my inner decision oso lead me to termination, just that u know... tak patah hati & fire up...

ur insurance agent so good?

can recomend to me?

ego vs $$$

u decide

sometimes u just have to eat your ego and admit u were wrong, take the loss and move on. u MIGHT/MAY end up better than if u were to persevere with a decision that was wrong in the first place. This applies to other life decisions too.

i dun wanna do that. later ppl think I'm dupe for that agent or u ppl think I help hard sell my agent here.

i believe u no dupe

u share it out consider can help many ppl

wat insurance company?

that guy sells no savings plans...in fact, he is ANTI savings plans and/or use of insurance as savings/investment. So, no need name him here

i wan buy other insurance

can he do free review of my insruance?

u post at insurance thread.

many many many agents will volunteer

I want ur agent coz u say will explain in dept of policy

for all insurance policy, normally the full plan proposal wil not be shown, the client can only rely on the talk 1st, then if overall ok, to sign on few pieces of papers (mostly medical background check, norminees confirmation, some personal information verification, payment mode - autopay by credit card or cash pay etc). Full skrip only come weeks later.
honest speaking, the full policy alwiz in medium thick book version, with all the specific insurance terms & wordings, wil anyone really read through in details & thoroughly?
sorry i didn't, u r right... is my mistake. sigh.

that why i ask him to intro his agent to me

thanks bro (or sis? since u r pink ;p).
I understand wat u r trying to say & get the point.
initially the claim was on bank FD kind, similar flexi in withdrawal, but get higher interest return, & known to b a 10 yrs plan (claimed can withdraw after 3 yrs), thus I think ok to giv it a try.
but if ended up is a min 20yrs to break even or up to 82 yrs bounding kind, it was totally a koyak plan to me ady! (other protection may sounds ok to other ppl, but am not interested at all. Said is add on product for free then I don mind, but in fact it is not). Add to the worst, even after 10 yrs choose a conversion on fully pay up, it wil stil at a loss of rm10k-20k (depends on AIA interested pay by then whether 7% - 5% or lesser).
As shared earlier, it was totally a diff plan as the agent verbally claimed.

This post has been edited by FireUp: Aug 26 2014, 10:42 PM

aiyo, so fast forget already?

u have a 15 days "free-look period" AFTER you receive your policy to review your policy (which u will only get after u sign up for the plan). If u not satisfy or don't like the policy, u can cancel and get back 100% of your money. No need give insurance company any reason. They are obliged to comply with your cancellation request by law.

It is NEVER comparable to FD in the first place.

FD interest is calculated as % on the amount u place.
Savings plan "interest" is calculated as % on the SUM ASSURED'

They are 2 different things.

20 years is a long commitment. Now u just passed 3 years. If I were u, I'd cancel.

Pink spider, I rmb ur statement on this lar, in the same page ma
I dy said I trust the agent & her professionalism ma, from head to toe (beginning verbal claim til the plan book itself), so didnt check, so 15 days free-look-period oso nothing lor. as the result, let agent fool me from head to toe lor :'(

FireUp, write in officially what you shared here to the insurance company. In the letter make sure you describe how the agent has misrepresented to you and clearly state what is your intention/demand. Although 15 days free look up period is over, you have the right to get your premium refunded as this is a case of agent mis-selling.

Yes, no harm trying.

Thanks Chigme.
Will write in officially better or directly go to their HQ office better?

actually, prior to signing up, they are suppose to show you something called sales illustration and product disclosure sheet. that's when you see the figures, premium for your age. these 2 documents, will be relatively easier to understand, AND at the same time, give you a brief overview of the important T&C. what i was quite surprised with, many agents skip this part. only use pencil, paper, draw draw. sometimes don't even send the full quotation.

actually, there's a 3rd option. you may look inside your policy, and search for something that says non-forfeiture option. with NF option, usually there's an option to continue your policy without paying extra premium. this will be known as reduced paid up, and etc... so it won't be exactly a total waste, you know, instead of terminating it.

(a 3rd) Actually, if you can bring your policy to menara aia, 99 jln ampang, that would be great la. but i don't know, maybe big company like AIA is used to receiving this kind of complain.

i've heard of successful cases from a compliance manager, of a smaller insurance company, that there are customers who managed to get FULL refund, after 1-2 years of buying into those stupid endowment plan. but maybe cause that company takut so just paid it off and let it be.

OH BTW... since my guess is, your policy is the pay 10 years for 20 years type, your loss will be greater. cause you pay more premium upfront.

This post has been edited by adele123: Aug 24 2014, 09:45 PM