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Old 29-11-2015, 11:04 PM   #1
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pruflexicash vs pruwealth

Hi All

i'm currently into pruflexicash for near to 1.5yrs. Monthly premium is 300. Came to know pruwealth and feel that pruwealth is better. Can someone advise me if i should surrender pruflexicash?
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Old 30-11-2015, 04:29 AM   #2
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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.
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Old 30-11-2015, 05:00 AM   #3
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Is pruwealth or pruflexicash an ILP or endowment?
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Old 30-11-2015, 06:04 AM   #4
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Pruwealth is a long term endowment plan. It works differently from the traditional endowment plan.
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Old 30-11-2015, 06:26 AM   #5
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Pruwealth is a long term endowment plan. It works differently from the traditional endowment plan.
So pruflexicash is ilp? If so, can avoid.

As for pruwealth, is it a mixture of investment/insurance with some of the investment going into bonds/stocks mix and some commission into the agent/company?

How is it different from traditional endowment?
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Old 30-11-2015, 06:40 AM   #6
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PruFlexiCash is that dumb endowment which is not capital guaranteed and has a high term insurance portion
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Old 30-11-2015, 06:41 AM   #7
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PruFlexicash is also an endowment plan but with a shorter tenure date like 15/20/25 years.

Pruwealth policy will continue till the sum assured age till 99 years old. Yes, even is the sum assured person has pass away, the policy will be in force because there is a secondary life assured.

I do not know did I use the terms correctly. That is why Pruwealth is for wealth accumulation for the future generations and not for the current sum assured person. But the policy owner can choose to cash out the bonuses anytime it wants as long as the policy allows to.

To me all insurance policy is a mixture of savings and investments. Idiots like me know nothing about investment like stocks or commodity, so I can only depend on other people to do it for me. Of course by doing so, the company will take a large chuck of the profit.
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Old 30-11-2015, 06:43 AM   #8
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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.
How many endowments you want to buy ? You throw your money inside the bank or into STI ETF is better

Dont anyhow buy endowments. Its not worth it.
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Old 30-11-2015, 06:48 AM   #9
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PruFlexiCash is an endowment with high term insurance portion. Your premiums paid are to finance this part. That is why this plan can never be capital guaranteed.

Why do you even want something that is not even capital guaranteed ?

Its like you put $ in fixed deposit but the bank tells you capital guaranteed only 50%. Logic ?

Dont come and tell me about those bonuses and non-guaranteed portion. I have no interest.

So many Pru agents have sold this product as pure savings which is wrong. Dont believe ? Go ask any of them during their roadshows. Most will tell you it is a savings plan which is obviously not.
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Old 30-11-2015, 06:53 AM   #10
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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.
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Old 30-11-2015, 06:55 AM   #11
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http://forums.hardwarezone.com.sg/mo...m-5127007.html
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Old 30-11-2015, 06:55 AM   #12
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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.
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Old 30-11-2015, 06:57 AM   #13
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If I were TS, I will terminate the PruFlexiCash. No point. That is my view.

Check out the history of PruFlexiCash in this forum. Notorious, every year confirm will have a few threads on concerns and complaints.
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Old 30-11-2015, 07:11 AM   #14
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I think the bottom line is the TS needs and decision.

If he can afford to lose the money on his Flexicash, then by all means.

No single insurance policy can fulfill everyone needs. Also it is also depends on the integrity and honesty of the agent.

Different products is targeted at selected group of people.

So everyone will really need to understand the plan offered to him.

I can honestly told you I have bought Pruwealth from someone I know but this policy is not for me but for my kids.

I do not want to leave cash only for my kids but something and really hopefully will increase in value over the years.
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Old 30-11-2015, 07:15 AM   #15
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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.
Some rather let insurance earn I guess ?

Insurance = protection, and not savings or investment
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