Pruwealth is a long term endowment plan. It works differently from the traditional endowment plan.
My feel is that you should not surrender your flexicash. You have paid about $5400 till now. If you surrender it, you will not get much back or even nothing.
If you can afford it, you may want to buy another Pruwealth. The lowest premium for Pruwealth is $200 per month.
That is why I say most insurance are a mixture of savings and investment.
When there is an investment, there will be risk and with that, bonuses and capital will not be guaranteed.
Noob like us is not investment savvy.
Give you a scenario.
I want to eat mee pok and the net cost of a bowl of mee pok is maybe $1.50. However I do not know how to cook mee pok.
So no choice but to fork out $3.50 for a bowl of mee pok that is cook by an expert.
So this is similar. If you know how to invest by yourself, please do so by all means as it cut out the middle man and you can enjoy 100% of the profit.
For people like me, lan lan loh.
Don't need to made investment sounds difficult when it's not. Buying a ETF regularly is exactly for the newbies investor.
It does not require one to have much if any financial knowledge, no timing involved, no skill involved, no studies involved. Heck, it's even less complex than most insurance plan.
That is why I say most insurance are a mixture of savings and investment.
When there is an investment, there will be risk and with that, bonuses and capital will not be guaranteed.
Noob like us is not investment savvy.
Give you a scenario.
I want to eat mee pok and the net cost of a bowl of mee pok is maybe $1.50. However I do not know how to cook mee pok.
So no choice but to fork out $3.50 for a bowl of mee pok that is cook by an expert but still, this does not guarantee that the mee pok will suit your taste!
So this is similar. If you know how to invest by yourself, please do so by all means as it cut out the middle man and you can enjoy 100% of the profit.
For people like me, lan lan loh.
3.50 pee bowl for mee pok, 3 meals daily is 10.50, 1 month is 315
If you learn to cook it yourself, you can save how much ? 180.
Why not learn instead of pushing everything to a 3rd party ? Why let a 3rd party do the decisions and controls when you have the choice to do it yourself ?