I'd rather a legit AIA to provide their own insights into this.

As for you, just another typical keyboard warrior.

i remember one saying, if buy insurance juz opt for sole protection purpose, don bother those saving plan, investment plan etc. if not mistaken, it was said by mr.chong the tax consultant who always appear on 988 and tv shows.

let say a PA per annum premium cost u RM1xx can cover rm120000 death + disable, then got medical expenses few thousands, dental benefits, ambulance, hospital incomes , etc

then juz add 1 medical card

Learnt my lesson I guess. Thanks!

Keyboard warrior lol!

You dunno who i am.

Nvm, U slowly wait other "certified" professionals to come tembak u

Hi

From the look of it, you've purchased into an investment-linked policy, the first year commission is charged at 20% for distribution fee, this is written upfront in the policy and also in the proposal form before you accepted it. If the agent didn't explain this part, then blame on the agent that you bought from.

As for the product, it is across all insurance company, this model is run by all the insurance company, be it you want to jump to other insurance company, same foul cry you're going to make. It's not going to be any greener on the other side.

And if you're buying the investment-link policy for "CAPITAL Appreciation" purpose, then you're on the wrong boat son. Insurance is for protection, if you're looking for 8% - 35% return, forget about it.

The problem here is not AIA, the problem is you buying the policy for wrong intention which was "capital appreciation".

Hi.

You're right. I was not informed about this 20% part.
And it's over one year, the deduction fee is still the same.
And no I don't receive any hard copy policy. Website wise it's not written.
Just as I suspected the agent's fault.
I'll just cancel the policy then thanks.

This post has been edited by ykit_88: Jul 11 2016, 06:53 PM

How long was ur policy ago ?

Why haven't the agent deliver you the policy ?

1.5 years.
And it's still deducting the same 16% fee, not just 1st year.
The agent's my school Friend. He hope to get me sign up proper insurance but I wish to observe what kind of service he deliver so support him a ILP first instead.
Looks like I made a right choice.

Well you have your answer now. All the best

Thanks

+1, Very very true, a lot of people have the perception of using Insurance as investment. I would say if you want to invest, you can always invest on better things. The sole purpose of Insurance is for protection..

The whole idea of Investment-Linked Policy is BUY TERM, INVEST THE REST, but managed by the insurance company.

Managed by the Insurance to cover up for the cost of insurance and at the same time for investment. Of course, a person can always opt for term insurance but the COI will increase.

This post has been edited by Kilohertz: Jul 12 2016, 09:53 AM

Question - I've been telling people to pay attention to the investment linked funds as part of the selection criteria when selecting insurer. And people think I'm nuts

Last I checked, 3 years annualised returns for Msia equity inv linked funds for AIA is 8+% and Prudential is 2+%
In the long run this is going to make a lot of difference

Now tell me, am I really wrong to think the inv linked funds returns do matter when it comes to deciding which insurer to go with? Inv linked funds are not premium guaranteed, if the funds don't perform we may need to top up premium later on to cover the insurance charges

There are a list of funds to choose from when you buy an IL, are you comparing an apple to apple between AIA and Prudential funds? For example, the agent who sold AIA might chose an aggressive funds and coincidentally for that particular year, the market was good whereas the agent from Prudential chose a low risk fund. Just an example.. well if both funds are identical and AIA performed better, I would guess their fund managers are better at investment

Cost of insurance with ILP DOES increase, just that u do not see it.

E.g.
U pay RM200 every month
Your COI for Year 1 is RM50 a month
RM150 goes toward investments, RM50 used up for COI

Your COI for Year 2 is RM60 a month
RM140 goes toward investments, RM60 used up for COI

... ... ...

Your COI for Year 20 is RM150 a month
RM50 goes toward investments, RM150 used up for COI

And so on and on...

This post has been edited by Pink Spider: Jul 12 2016, 10:06 AM

True at this. When u buy ILP, u need to look for the insurance company with a solid fund management team.

Yes it does, but mostly people don't see it hence this is where the management of the Insurer comes in. You can just buy and let it run, providing it is quoted correctly for a long term sustainability.

Oh, I did it myself. I'm experienced enough in funds to be able to do that
Some of my old postings
https://forum.lowyat.net/index.php?showtopi...&#entry79452016

So it's an apple to apple comparison then I guess AIA is better off on their investment. Btw, which fund did you chose? Mind sharing? hehe