HWZ Forums

Login Register FAQ Mark Forums Read

Things you should read before buying an endowment plan

Like Tree144Likes
Reply
 
LinkBack Thread Tools
Old 29-08-2016, 10:52 PM   #781
Master Member
 
Join Date: Jun 2010
Posts: 2,774
To me, it unlikely to get the maturity sum of 16,075 which translate to a 4.1% return per annum. You will be lucky if you get 3% or about 14,142.

From the BI, at end of each year, your cash value is less than the accumulated premium paid and you will lose if you surrender before end of 10 years without taking into account interest loss. If the declared bonus is less than projected, the breakeven point may be 13 or more years.

The NG value is the bonus that it will declare at the end of each year and accumulate. So at each point you look at the guaranteed amount plus the accumulated bonus that has been declared to get your cash value.

Since you are half way through, say end of 10 year, look out for the accumulated bonus that has been declared and compare to the projected NG value and you will have a rough idea whether you will get the projected NG value of 6,075. Quite certainly, it's less. Please let us know the numbers.
hi henry,

thank you for your insight. so just to clarify:

every year there is this bonus that will be declared by NTUC income, which makes up the NG portion, and will accumulate, so am i right to say the bonus every year will fluctuate and won't be consistent, like 3%/annum?

my policy is currently still under my father's account, just checked my ntuc income account. will give a ring to ntuc income tmr regarding the transfer if it's possible directly. will update you guys as soon as i get the numbers!
bjornng is offline   Reply With Quote
Old 29-08-2016, 10:53 PM   #782
Master Member
 
Join Date: Jun 2010
Posts: 2,774
You can log in ntuc online to check your acct.

Yup whole life have non guranteed portions too so the figures will change.
hi akwl,

noted. so i believe i should be able to retrieve the latest BIs for all my policies via my ntuc income account online right? or will ntuc income send me the latest policies via mail?

sorry if i'm asking all these questions..
bjornng is offline   Reply With Quote
Old 29-08-2016, 10:55 PM   #783
Arch-Supremacy Member
 
akwl88's Avatar
 
Join Date: Feb 2016
Posts: 10,685
hi akwl,

noted. so i believe i should be able to retrieve the latest BIs for all my policies via my ntuc income account online right? or will ntuc income send me the latest policies via mail?

sorry if i'm asking all these questions..
U can view the latest BI online and save them too
akwl88 is offline   Reply With Quote
Old 30-08-2016, 03:29 AM   #784
Arch-Supremacy Member
 
Join Date: Mar 2004
Posts: 11,356
My endowment policy that matured in 2011. Non-guaranteed (5.77%) vs Actual (3.72%).



What went wrong?

Illustrated to make you stick to the end?
henrylbh is online now   Reply With Quote
Old 30-08-2016, 07:03 AM   #785
Honorary Member
 
mrclubbie's Avatar
 
Join Date: Oct 2008
Posts: 129,418
hi mrclubbie,

understood. may i know how should i go about getting the latest BI? calling up ntuc and asking them to send it to me?

while i'm on this, i have 2 whole life policies with ntuc income also; will life policies also have changes to its BI?
Yes, the BI will change

You can just email them. They will respond within 3 days.
mrclubbie is online now   Reply With Quote
Old 30-08-2016, 07:55 AM   #786
Arch-Supremacy Member
 
akwl88's Avatar
 
Join Date: Feb 2016
Posts: 10,685
My endowment policy that matured in 2011. Non-guaranteed (5.77%) vs Actual (3.72%).



What went wrong?

Illustrated to make you stick to the end?
Wow projected value decreased by 12k
akwl88 is offline   Reply With Quote
Old 30-08-2016, 08:22 AM   #787
Arch-Supremacy Member
 
Join Date: Mar 2004
Posts: 11,356
Wow projected value decreased by 12k
That's 36.44% off. They screwed the last year.
henrylbh is online now   Reply With Quote
Old 30-08-2016, 08:38 AM   #788
Arch-Supremacy Member
 
akwl88's Avatar
 
Join Date: Feb 2016
Posts: 10,685
That's 36.44% off. They screwed the last year.
Camping for insurance agents to justify their comms now!!!
akwl88 is offline   Reply With Quote
Old 30-08-2016, 09:00 AM   #789
Junior Member
 
Join Date: May 2016
Posts: 47
Phrases like 'forced savings', 'at least you didn't lose money', 'be happy that u made a gain' coming out?
WagnerChun likes this.
blueG77 is offline   Reply With Quote
Old 30-08-2016, 09:07 AM   #790
Master Member
 
Join Date: Apr 2010
Posts: 4,276
What is there to argue.
It's called non guaranteed for a reason. The company has no obligations to pay out this sum. If they give you $0, you have no case against them. You agreed that this sum that was stated was not guaranteed to you, by signing the policy booklet.

They can write as much non guaranteed portion as they like, you agreed that it can be reduced to 0 in the last policy year.

Only if guaranteed sum is not paid out as stated then you have a case to report to the authorities.
mrclubbie likes this.

Last edited by bibu00; 30-08-2016 at 09:13 AM..
bibu00 is offline   Reply With Quote
Old 30-08-2016, 09:26 AM   #791
Senior Member
 
Join Date: Nov 2014
Posts: 1,423
ManuLife - Premier Saver 55


TM - TM Nest Egg (GIO Cashback)
Below is illustration for no cashbacks withdrawal
I feel that if want to get should go for tm nest egg (gio). Cashback guaranteed not so good
mrclubbie likes this.
blurpandasg2014 is offline   Reply With Quote
Old 30-08-2016, 09:32 AM   #792
Senior Member
 
Join Date: Nov 2014
Posts: 1,423


Aia smart growth. $686.50 per yr for 12yrs den mature at 24yrs
mrclubbie likes this.
blurpandasg2014 is offline   Reply With Quote
Old 30-08-2016, 09:44 AM   #793
Member
 
Join Date: Apr 2008
Posts: 481
What is there to argue.
It's called non guaranteed for a reason. The company has no obligations to pay out this sum. If they give you $0, you have no case against them. You agreed that this sum that was stated was not guaranteed to you, by signing the policy booklet.

They can write as much non guaranteed portion as they like, you agreed that it can be reduced to 0 in the last policy year.

Only if guaranteed sum is not paid out as stated then you have a case to report to the authorities.
this quote is an example of not understanding how policy works even after so many explanation.
icyboiz is offline   Reply With Quote
Old 30-08-2016, 10:41 AM   #794
Arch-Supremacy Member
 
akwl88's Avatar
 
Join Date: Feb 2016
Posts: 10,685
this quote is an example of not understanding how policy works even after so many explanation.
this quote by an agent is an example of evading the real question of why they are peddling lousy policies with decreasing NG returns
Witwit84 and mrclubbie like this.
akwl88 is offline   Reply With Quote
Old 30-08-2016, 11:47 AM   #795
Senior Member
 
Join Date: Nov 2014
Posts: 1,423
My endowment policy that matured in 2011. Non-guaranteed (5.77%) vs Actual (3.72%).



What went wrong?

Illustrated to make you stick to the end?
Which company bro
blurpandasg2014 is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On