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Things you should read before buying an endowment plan

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Old 06-08-2016, 07:29 AM   #751
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Alot of people asking about buying plans and savings, being duped by agents. Take a look at this before deciding.
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Old 06-08-2016, 01:47 PM   #752
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ManuLife - Premier Saver 55


TM - TM Nest Egg (GIO Cashback)
Below is illustration for no cashbacks withdrawal
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Old 06-08-2016, 02:08 PM   #753
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TM - TM Nest Egg (GIO Cashback)
Below is illustration for no cashbacks withdrawal
are these plans good?

i glance through and doesnt find them appealing.

just my opinion though
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Old 06-08-2016, 02:18 PM   #754
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side track a bit,

does anyone know whether it is legal for an agent to pay the premiums first?
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Old 09-08-2016, 05:23 PM   #755
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Aviva MyEduPlan
Monthly Premiums: $208.60 (Pay for 10 years) but run for 18years, so keep another 8 years.
Total Premiums Paid:$25,032
Payout Age: Age 19 to 22 (4 years) + 2 special year
Guaranteed Benefits:$27,500

Age 17: $1,250
Age 18: $1,250
Age 19: $10,000
Age 20: $5,000
Age 21: $5,000
Age 22: $5,000

Non-Guaranteed Maturity Payout Benefits (Proj.@4.75% p.a): $8,277
Total Benefits $35,777

--------------------------------

ok dont talk about guaranteed, the interests is $2,468. So this type of eduPlan or endowment is it worth?
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Old 09-08-2016, 05:24 PM   #756
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assuming $208.60 monthly, i cant possible buy SSB monthly, i have to save & accumulate like at least 3 month to get a $500 SSB monthly worth meh?
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Old 09-08-2016, 05:31 PM   #757
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are these plans good?

i glance through and doesnt find them appealing.

just my opinion though
They are not meant to be appealing. Just capital guaranteed.
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Old 22-08-2016, 04:26 PM   #758
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Just surrendered my 6 years endownment plan to Repholding. Getting 5% more than surrendering it to Prudential. Heart pain about the many losses suffered through IPL and endownment but lucky I have time on my side though I am 36 already. Gonna invest the saving into STI ETF or IWDA.
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Last edited by Earnasyougrow; 22-08-2016 at 04:29 PM..
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Old 22-08-2016, 05:38 PM   #759
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Just surrendered my 6 years endownment plan to Repholding. Getting 5% more than surrendering it to Prudential. Heart pain about the many losses suffered through IPL and endownment but lucky I have time on my side though I am 36 already. Gonna invest the saving into STI ETF or IWDA.
Ahhh.glad to know that brother.
Now spend $8 to buy shiny things book!
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Old 22-08-2016, 06:19 PM   #760
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Ahhh.glad to know that brother.
Now spend $8 to buy shiny things book!
Yup. Already did and am now spreading the gospel to my younger colleagues. Better late than never. AK21 is also a good blog for me to learn more about passive investment as I am quite lazy in nature. Hahha.
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Old 22-08-2016, 06:32 PM   #761
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Yup. Already did and am now spreading the gospel to my younger colleagues. Better late than never. AK21 is also a good blog for me to learn more about passive investment as I am quite lazy in nature. Hahha.
You mean assi?
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Old 22-08-2016, 06:36 PM   #762
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You mean assi?
Yup. Been picking up bits and pieces from his blog and Money Mind. Glad that there are actually a few good men out there like AK21 and Shiny Things and many others in here.
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Old 24-08-2016, 05:30 PM   #763
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There's always segments of gullible people in every community which needs protection. Just like we need protection by police from criminals (because we're weak and can't defend ourselves from those monsters with weapons), these gullible people are also weak and needs protection from the insurance monsters. I'd say it's high time the government steps on on new laws to punish and jail these monsters
Yes! Based on the policies I have surrendered like 2 ILPs, 2 CPF Investment and 1 Endownment easily 20-30k loss. I am not a high earner and not financially smart when I am younger but I am a good prey for these jackals. SORRY if I have insulted jackals. I have learned to treat these $30k as my degree to financial freedom and buy the $8 book from Shiny Thing. Thank God for letting me open my eyes at 36 and not 56 years old!
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Old 29-08-2016, 06:52 PM   #764
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As promised, here is the latest BI of my one and only participating policy (endowment) from an insurance company. It is an 18-year policy so I am halfway there.

At that time, this was the only plan that can offer a guaranteed value higher than the premiums paid based on my affordability. The other one was from TM but I need to pay higher monthly premiums.

Guaranteed yield of policy upon maturity = 0.72%
Non-guaranteed yield of policy upon maturity = 1.62%

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Old 29-08-2016, 07:33 PM   #765
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Didn't read the thread but i wonder why no one mentioned STI ETF? Is a supposed 8.4% annualised return. I was surprised to see the guaranteed return is only 0.72% for a 10+++ year endowment plan. That's actually worse than bank fixed D now.

STI ETF is super easy to buy now. You can buy through banks or online if you don't know how to on trading platforms. If you know how, share them with your younger friends and how it may help them generate more returns in future than ilps or endowments.

Coming to the hate part. I always wonder where the money from the many many incentive trips that my agent friends get to enjoy every few months. Wait. Its your hardearned money used to fund someone else's travel! Sounds great!
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