hi guys,

i'm not sure if this is the right place to post this so please move it where appropriate.

ok, around 1 year back, i opened a Maybank Premiervalue Savers and opted for a stable fund.
Link to stable fund

the thing is i was pretty sure i asked about service charges and nothing besides the one printed on the brochure (same as link) was mentioned to me.
also, there is a supposedly 'free' 50k life insurance if i went with this fund

i've just received my annual statement from them. the summary is
total premium received 1200
total establishment charge paid -360 (RM30 a month, 30% a month)
total risk premium paid -76.92
total adminstration charge -72.00
which makes it to a balance of 691.08
and RM676.20 after a 100% fund splitting (whatever that means)

so i just check the website and there was this
Policy Year Allocation Rate
1 70%
2 85%
3 100%

some questions i wanna ask is,
1.with this allocation rate, where does the balance 30% go?
2.i feel like i got conned, it's totally different from what the sweet lady in the bank told me, should i terminate this pronto(can i even)?


p.s: pls don't bash me for not reading the fine print. it was really thick. i tried to skim through. obviously i missed out on alot.

ya my gf encountered this as well.
1st year, they will take 30% of the money as something like service charge (for handling your fund). 2nd year they will take 15% of the money as service charge and starting from 3rd year all your money (RM100/month) will goto the fund. Meaning starting from 3rd year onwards, your money will go fully to your investment and there will be no monthly charge after 3years. however for those yearly charges, it will still be there. in short this is a long term investment. basically, this product can only be sold by some certified personnel in Maybank. but it seems like those who got no knowledge on this also selling this to customer.
of coz u can withdraw from this product, but you'll lose half of your money for no reason. i think you should go to the lady who intro you this product and ask if she is certified to sell you this.
PS: did you get any document/insurance policy for the insurance? they should have sent you this, else you should report this to maybank and ask for one. the insurance only covers death/ permanent disability.

This post has been edited by heuristic: Sep 8 2008, 10:41 PM

i also pay on this Policy.I start paid from 19/6/08,just 4month ago.But i face financial problem,so want to terminate it.Anybody know how to terminate it?And how much can get back?how to get back this money?Is it just go to Maybank Branch to terminate it?

This post has been edited by chishen: Oct 27 2008, 10:05 PM