Advice needed for endowment plan purchased

[akwl88]

The bank did tell me that the chance of that is very low as well, and provided me with past figures. Although it makes sense somewhat, but non-guaranteed does mean there is still even a slight chance to not getting my money back..

yup dont be fooloed by the non-guaranteed portion. that is just your money being invested by the insurer. you cant even control it lol

http://www.turtleinvestor.net/surrendering-my-aia-prime-life-policy/

sic for you real life story of pple's policy with decreasing non-guaranteed returns over the years

so scary!

 

[icyboiz]

The bank did tell me that the chance of that is very low as well, and provided me with past figures. Although it makes sense somewhat, but non-guaranteed does mean there is still even a slight chance to not getting my money back..

as i said previously, i don't really like this product. but to just reply what you said in this quote: everything also have risk lah if you want higher returns than savings account. it's just whether low risk or high risk only. but then again: low risk = lower returns. high risk = higher risk.

if i'm you i will just let go of the rider (if that's allow), since you've already paid for 2 years already. the major cost of deduction has mostly been done already.

 

[Joi17988]

Hi! You seem well versed with policies. May I seek your advice? I bought a myflexisaver policy fr Aviva at 60k premium for 10 yrs n gauranteed return is 47500 but bonus acvumulated fir padt 2 years only 570 when quoted non gaurantee is 17700. Have already paid 24k and can only get back 5k if I should surrender. What would you advise me? Thanks!

 

[akwl88]

Hi! You seem well versed with policies. May I seek your advice? I bought a myflexisaver policy fr Aviva at 60k premium for 10 yrs n gauranteed return is 47500 but bonus acvumulated fir padt 2 years only 570 when quoted non gaurantee is 17700. Have already paid 24k and can only get back 5k if I should surrender. What would you advise me? Thanks!

total premiums : 60, 000

total guranteed returns : 47,500

 

[Maeda_Toshiie]

Hi! You seem well versed with policies. May I seek your advice? I bought a myflexisaver policy fr Aviva at 60k premium for 10 yrs n gauranteed return is 47500 but bonus acvumulated fir padt 2 years only 570 when quoted non gaurantee is 17700. Have already paid 24k and can only get back 5k if I should surrender. What would you advise me? Thanks!

Post the benefits illustration of your policy.

For reference: http://www.mas.gov.sg/~/media/Money...se of Your Finances Benefit Illustration.pdf

 

[limster]

total premiums : 60, 000

total guranteed returns : 47,500

I've said before, that the agent that manages to sell people this kind of policy deserves his/her commission.

 

[dendii]

Hi! You seem well versed with policies. May I seek your advice? I bought a myflexisaver policy fr Aviva at 60k premium for 10 yrs n gauranteed return is 47500 but bonus acvumulated fir padt 2 years only 570 when quoted non gaurantee is 17700. Have already paid 24k and can only get back 5k if I should surrender. What would you advise me? Thanks!

Post your benefit illustration here then we can advise you better.

But based on what you say..

Premium Paid: 60k
Returns: 65.2k (Including Non-Guaranteed)

Your return is only about 1.51% assuming the BEST scenario.

Cancel now.. lose 19k and the opportunity cost to do better with your money. (Assuming you know what to do with the money as well)

Otherwise, just keep it for another 6 years. You won't be getting back only 47.5k but it is just how much you would have earned.

You may want to consider changing an agent as well.