PruCash losing money?

VanquishShadow

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around 2.3% return assuming all the non-guaranteed materialises...
versus -2% return if i surrender now.
gosh these ILPs really trap you in...
 
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mummy1234

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My PruSmart Lady also very poor returns compared to my NTUC Idealplan. The former have not break even after many years and projected returns is less than what I will put in though some years I did not pay premiums. NTUC already have S$33k though I paid only S$25k via S$180 mthly premiums.

The only good thing is it covers lady's illnesses like SLE and RA and early carcinoma in situ of breast and cervix. I will either redeem it or let it self pay to maintain coverage.
 

tangent314

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Trying to find a reason not to cancel it, but there seems to be none.


Based on the non-guaranteed surrender value:



qvEcwKV.png



The thing about these plans is that they eat most of the commissions in the first few years and backload the bonuses into the last few years before maturity. This way it is always to their benefit if you surrender early.
 

VanquishShadow

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Based on the non-guaranteed surrender value:



qvEcwKV.png



The thing about these plans is that they eat most of the commissions in the first few years and backload the bonuses into the last few years before maturity. This way it is always to their benefit if you surrender early.

I think in my case I should use 9 periods, which roughly gives ~5% over each of the 9 periods.
In the scenario where the maturity falls to $40,000, the same calculation falls to less than 1.5%...
 

tangent314

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8 periods is correct, since you are looking at the difference between year 13 and 21 of the policy. If you want to count 9 periods you have to set PV as the surrender value at the start of the premium year.
 

thekang

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My PruSmart Lady also very poor returns compared to my NTUC Idealplan. The former have not break even after many years and projected returns is less than what I will put in though some years I did not pay premiums. NTUC already have S$33k though I paid only S$25k via S$180 mthly premiums.

The only good thing is it covers lady's illnesses like SLE and RA and early carcinoma in situ of breast and cervix. I will either redeem it or let it self pay to maintain coverage.

You shouldn't compare the returns on savings products against protection products. Of course savings will win, but they barely offer any coverage.
 

hwmook

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You shouldn't compare the returns on savings products against protection products. Of course savings will win, but they barely offer any coverage.

The protection is like crap and basically worthless. Don't use that to justify the crap returns.
 

yoongmy

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Just did the calculations for my Pru flexi cash saving plan. Best scenario 2.41% return, worse scenario 0.8%.
 

Shion

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Just did the calculations for my Pru flexi cash saving plan. Best scenario 2.41% return, worse scenario 0.8%.

PruFlexicash is a very horrible product

Very significant portion in death benefit
 

hwmook

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Just did the calculations for my Pru flexi cash saving plan. Best scenario 2.41% return, worse scenario 0.8%.

I already try to cut loss by taking out all the money I can. Now wait for it to mature and get back the remaining. Luckily I bought minimum amount that time.
 

yoongmy

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I already try to cut loss by taking out all the money I can. Now wait for it to mature and get back the remaining. Luckily I bought minimum amount that time.

I try to think positively, pay premium monthly and use it to fulfill card spend for those high interest accounts.
 

SBC

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My PruCash bought 6 years ago has yet to breakeven too.

Surprisingly again, my TM Life has broken even after about 7 years.
 

WWH123

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me got PruCash. Only withdraw the 1st 2 years of the Cashback. looking at BI, the exponential is the last 3 years. need to hang on for a few more years i guess
 

SBC

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me got PruCash. Only withdraw the 1st 2 years of the Cashback. looking at BI, the exponential is the last 3 years. need to hang on for a few more years i guess

How long have you been holding this policy?
 

Eternit

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When you complain about poor returns, Pru says it's not purely savings/investment as it also offers coverage.

When you complain about poor coverage, Pru says it's not purely insurance as it also offers savings/investments.

End of the day, is both cmi but they will market it as best of both worlds and one stone kill two birds kind of product.
 
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