Things you should read before buying an endowment plan

[ochazuke]

Like you say, the guaranteed portion is ONLY equals to the total premiums paid.

If you are that risk adverse, why not largely get SG government bonds that will expire around when your child is going for uni, then allocate a small portion to sti etf?

Thanks, I will look into this. Did not consider SG Gov bonds before.

 

[bibu00]

Not all endownment guarenteed value is equal to premium paid.

Mine isnt. Check my op post.

 

[w1rbelw1nd]

Not all endownment guarenteed value is equal to premium paid.

Mine isnt. Check my op post.

Yup, but how much can they guarantee then? If its comparable to long dated SG government bond OK, if not I am not interested at all.

 

[w1rbelw1nd]

According to your table, total premium paid is more than guaranteed portion of payout.... :/

 

[Tornesoul]

whats the diff between an endowment and a whole life?

endowment expires upon maturity?

 

[Shion]

http://forums.hardwarezone.com.sg/money-mind-210/rate-return-endowments-5244136.html

 

[w1rbelw1nd]

whats the diff between an endowment and a whole life?

endowment expires upon maturity?

Generally speaking:

Endowment - greater portion of premium allocated to investment, small premium allocated to insurance part (death benefit)

Whole life - greater portion of premium dedicated to insurance. Can even have riders such as CI, personal accident etc. Less premium allocated to investment.

 

[blurpandasg2014]

I wish.. your agent gets $2851 over 6 years, or about 4% of your total premiums.

Care to share what is the commission structure for endowment

 

[bibu00]

Isnt that what i said. Premium paid > guarenteed value?

 

[w1rbelw1nd]

Isnt that what i said. Premium paid > guarenteed value?

Haha misread! Psps

 

[Shion]

PruFlexiCash Protection Plus

PruFlexiCash Protection Plus

PruFlexiCash

 

[bibu00]

Ya. Premium paid 43k, guarenteed 24k. Almost 50% gone liao HAHAHAHAHAHAH

Wait wait wait, my own pruflexicash isnt any better. Sigh.

 

[Shion]

Ya. Premium paid 43k, guarenteed 24k. Almost 50% gone liao HAHAHAHAHAHAH

Wait wait wait, my own pruflexicash isnt any better. Sigh.

Yeah...Coz of the high insurance portion...

 

[sgboy85]

Hi all

Mine is OCBC max growth plus endowmen with great eastern insurance

Payment of $12k a year for next 6 years (total $72) let it roll for another 6 years.

Total payable: $72k

Sum assured : $63k

Projected bonus 3.1% plus payout : $82k

Projected bonus 4.6% plus payout : $93k

Anyone have experience on the bonus payout? Will it be lesser den 3% or even 0% growths?

What you think of my endowment?

 

[Shion]

Hi all

Mine is OCBC max growth plus endowmen with great eastern insurance

Payment of $12k a year for next 6 years (total $72) let it roll for another 6 years.

Total payable: $72k

Sum assured : $63k

Projected bonus 3.1% plus payout : $82k

Projected bonus 4.6% plus payout : $93k

Anyone have experience on the bonus payout? Will it be lesser den 3% or even 0% growths?

What you think of my endowment?

Total payable $72000
Sum assured $63000
Shortfall $9000
$9000 / 6 non-paying years = $1500

3.1% -- $82000 received, $72000 paid, earnings $10000
$10000 = 13.88%
6 years = 2.31%
12 years = 1.15%

4.6% -- $93000 received, $72000 paid, earnings $21000
$21000 = 29.16%
6 years = 4.86 %
12 years = 2.43%

 

[mcylo]

Mrclubbie very good at numbers

 

[Shion]

Mrclubbie very good at numbers

nah...my calculation should be flawed...

but one thing is clear...the other member already incurred a $9000 "loss" when he signed the policy

it is best if he can upload his policy benefit illustration, cashback and surrender value details

maxgrowth plus has a yearly cash payout portion (cashback)

 

[sgboy85]

nah...my calculation should be flawed...

but one thing is clear...the other member already incurred a $9000 "loss" when he signed the policy

it is best if he can upload his policy benefit illustration, cashback and surrender value details

maxgrowth plus has a yearly cash payout portion (cashback)

Hi i am.new here. How can i upload images here? Thanks

 

[sgboy85]

 

[sgboy85]