anyone with PruWealth and what are your thoughts?

Bigoya

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PruWealth is ILP?

As far as I can remember the details in the BI, PruWealth is an endowment.
Something like an endowment which you can save as long as you like and even pass down to your kids, comes with flexibility of withdrawal etc etc.. can't remember the exact rate of returns projected.

Based on last impression, I'm not a fan of it compared to other products available.
 

Bigoya

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Projected values are non-guaranteed, do check on how much is the guaranteed portion.
 
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akwl88

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If the guranteed irr is more than 5%, you can consider

I stress the word "guranteed"
 

akwl88

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:s22:
U could have just stress the word guaranteed. Your 1st statement is totally irrelevant.

how come irrelevant?

i am standing on the side of the consumer, of course i would want high returns for my money being locked up and used by insurers to invest
 

Trazora

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Should emphasize on the agent fees also.
 
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zwen88

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Endowment with technically no maturity, your age 100 to be exact.

The 5 years limited pay option will double your money at year 20 which will give you a yield of about 3.43% (you can use rule 72 to estimate)

(assumption 4.75% investment return of Pru Par fund, i.e. to say you receive 20 years of "bonus letter" every year with this statement: "investment outlook for 201X is as such, and we are not making any changes to your bonus this year"

Example total investment $10k a year X 5 = $50,000
20 years cash value/ surrender value = approx $100,000
30 years cash value/ surrender value = approve $150,000

so on and so forth.

Basically to really breakeven and earn is anytime from the 20 years onwards.
Anytime before that you wanna cash out, is not worth it.

Might make sense if you are saving purely for your child education when they are 1 years old and if you do not need any insurance coverage.

Or after you have completed your planning for the next 19 years, and want to plan for the 20th years and beyond.
 
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