anyone with PruWealth and what are your thoughts?

tangent314

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Why buy a savings plan through an insurance company in the first place? You lose about a year and a half worth of premiums on the distribution cost.
 

wl_ling

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What is the different buying a saving plan from insurance agent and bank?


A savings plan is a financial product that you buy in order to grow your savings over a fixed period of time. A savings account, on the other hand, is a bank account where you keep excess money that you have.

Unlike a savings account, where you can withdraw at your discretion, a savings plan is more structured and requires you to commit to the plan that you bought for a fixed timeframe.
 

StealthShadow

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actually no need to tag with the bank. you can go and compare other companies' plans before committing.

i think what he is referring to, is that pruwealth counts towards the spending amount for the UOB one account and One card.

So if you put in $500 monthly towards pruwealth, it counts as $500 spending on credit card, so you get your 3.33% cashback.

But ultimately, i think still not worth it.
 

twinbaby

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Capture.png


This is my plan, looks like it will take at least 20 years to breakeven (guaranteed) and 13 years (non-guaranteed) to breakeven
 
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