Any prudential agent/experienced here?

[platopus]

Thanks man, total tenor is 25 years...
$90 a mth...
Yea i will talk it over with my agent, ironically i am buying an integrated shield plan from him as well.

 

[bibu00]

Agent not interested in meeting me. Even on maturity my guarenteed value is less than premium paid. Need to rely on non guarenteed to not make a loss.
As mentioned my premium paid to date is 19k++. Policy value is 12k++

 

[oceanicmanta]

Agent not interested in meeting me. Even on maturity my guarenteed value is less than premium paid. Need to rely on non guarenteed to not make a loss.
As mentioned my premium paid to date is 19k++. Policy value is 12k++

It's expected that Guaranteed Value alone will not be sufficient to cover total premium paid, even at maturity. Shld look at both the GV & NGV & assess whether the projection assumption is reasonable vis a vis fund performance.

Thanks man, total tenor is 25 years...
$90 a mth...
Yea i will talk it over with my agent, ironically i am buying an integrated shield plan from him as well.

For Integrated Shield Plan, you shld read up on the soon-to-be-implemented Medishield Life where everyone will be covered. I expect that there will be some overlap of coverage between MSL & private ISPs, & will not surprise if premiums are hiked again after MSL is implemented ! So caution, u sign up ISP now, the premium may change (read will likely INCREASE) after MSL ! Again, assess if the ISP premium is sustainable over the long term & select the coverage to suit your needs. Assess if MSL for Class B is sufficient. When I was younger, I chosed Class A coverage with all riders ... now older & a bit wiser, I think Class B wld work.

$90 a mth does not seem much but it depends on each person's situation. If looking to save, there are other options eg SG Saving bonds coming up offering around 2.4% pa if kept for 10yrs.

Ultimately, mixing Insurance with Saving is likely to be sub-optimal. It took me many years to realise this but still having to deal with it.

 

[MaoZeDuo]

Agent not interested in meeting me. Even on maturity my guarenteed value is less than premium paid. Need to rely on non guarenteed to not make a loss.
As mentioned my premium paid to date is 19k++. Policy value is 12k++

He tell u not interested? Call service hotline and ask for change of agent. U don't have much choice thou.

 

[MaoZeDuo]

For Integrated Shield Plan, you shld read up on the soon-to-be-implemented Medishield Life where everyone will be covered. I expect that there will be some overlap of coverage between MSL & private ISPs, & will not surprise if premiums are hiked again after MSL is implemented ! So caution, u sign up ISP now, the premium may change (read will likely INCREASE) after MSL ! Again, assess if the ISP premium is sustainable over the long term & select the coverage to suit your needs. Assess if MSL for Class B is sufficient. When I was younger, I chosed Class A coverage with all riders ... now older & a bit wiser, I think Class B wld work.

Should sign up isp now to lock in insurability. Because msl is like a replacement of medishield. Hence the coverage from ISP should still be significant. But as what u say, I think most likely we will see another round of increase in premium for ISP (just had one recently ).

 

[nicholaslee]

Aiyoh surely got loss one. Almost half of the first 3 years premiums went to your agent's commissions already. You won't be able to get the whole figure entirely back.

 

[oceanicmanta]

Should sign up isp now to lock in insurability. Because msl is like a replacement of medishield. Hence the coverage from ISP should still be significant. But as what u say, I think most likely we will see another round of increase in premium for ISP (just had one recently ).

I have different view:
MSL will be implemented by end 2015.
No value to "lock-in' now when coverage, terms & price will eventually change.
Besides, Insurers are required to offer a standard B1 ISP plan which is not out yet.

My personal experience (from last Medishield coverage review & premiums shot up 60% !) is, once u are signed up, its as if the insurer forget about you & leave it to you to figure out how the changes are affecting you.

Of course, insuring yourself now will give you peace of mind for the next 6mths if some unforseen circumstances happen.

 

[AhBui168]

** those agent always earn profit and run road or don't care.

I suggest we all put our hard earn money in bank fixed deposit better.

For me I think that, insurance is just a safe charm to buy a peace of our heart.
And it's not a grow money saving account.

By the way, I'm looking forward regarding about this plan. It's it worth to buy?

http://www.prudential.com.sg/corp/prudential_en_sg/solutions/protect/PRUlife_limited_pay.html

 

[oceanicmanta]

** those agent always earn profit and run road or don't care.

I suggest we all put our hard earn money in bank fixed deposit better.

By the way, I'm looking forward regarding about this plan. It's it worth to buy?

http://www.prudential.com.sg/corp/prudential_en_sg/solutions/protect/PRUlife_limited_pay.html

For savings ? or protection ? or both ?

If savings, since u said FD is better, why look at this ?
If protection, would a Term plan do ?
Just playing devil's advocate.
This is again a long term saving+insurance plan. At this stage of my life, it's not for me.

 

[bibu00]

I been tryibg to meet the agent for months. Every appointment also `something urgent`

 

[MaoZeDuo]

I have different view:
MSL will be implemented by end 2015.
No value to "lock-in' now when coverage, terms & price will eventually change.
Besides, Insurers are required to offer a standard B1 ISP plan which is not out yet.

My personal experience (from last Medishield coverage review & premiums shot up 60% !) is, once u are signed up, its as if the insurer forget about you & leave it to you to figure out how the changes are affecting you.

Of course, insuring yourself now will give you peace of mind for the next 6mths if some unforseen circumstances happen.

I see. U have a point. Things can happen within 6 months thou. Else can go with the lowest plan. Quite affordable rah.

 

[MaoZeDuo]

** those agent always earn profit and run road or don't care.

I suggest we all put our hard earn money in bank fixed deposit better.

For me I think that, insurance is just a safe charm to buy a peace of our heart.
And it's not a grow money saving account.

By the way, I'm looking forward regarding about this plan. It's it worth to buy?

http://www.prudential.com.sg/corp/prudential_en_sg/solutions/protect/PRUlife_limited_pay.html

U just say put money in bank better, then now looking at wholelife plan lol.

 

[MaoZeDuo]

I been tryibg to meet the agent for months. Every appointment also `something urgent`

Here got a few pru agent u can ask them to help u.

 

[oceanicmanta]

I been tryibg to meet the agent for months. Every appointment also `something urgent`

Tell him you are looking for a $20k a year investment linked policy for the next 20 years ... see if he shows up.

 

[bibu00]

Hahaha. But she know what I want alr la. I called pru this morning at 9 plus the CSO say hotline full. Ask for my contact and say will call back in 1 hr.

 

[AhBui168]

U just say put money in bank better, then now looking at wholelife plan lol.

I looking for whole life plan just to protect myself and not grow money...

Any advice regarding this plan?
How its works?

 

[AhBui168]

Hahaha. But she know what I want alr la. I called pru this morning at 9 plus the CSO say hotline full. Ask for my contact and say will call back in 1 hr.

Did they called back to you?

That's why its hard to find a trusted agent to buy insurance...

 

[MaoZeDuo]

I looking for whole life plan just to protect myself and not grow money...

Any advice regarding this plan?
How its works?

wholelife plan is already growing money.
u can choose to ignore the grow money part but u will be exposed to opportunity cost.

long story short.
if only want protect can buy term plan.
if want protect after age 65 then buy wholelife.
how it works: i replied u at http://forums.hardwarezone.com.sg/m...ical-care-advantage-4381598.html#post94541736

 

[MaoZeDuo]

Did they called back to you?

That's why its hard to find a trusted agent to buy insurance...

agent good or bad is very hard to say.
only time can show.
but everywhere is the same.
even a 58 yo good friend can marry your 18 yo daughter: http://forums.hardwarezone.com.sg/e...r-old-gf-not-inviting-her-father-5078472.html
be responsible for yourself.
be very clear of what u buy.
read through every single t&c and understand them, at least at the point of sale.
make sure someone in your family knows what u have bought and where u keep them..
dont lock or throw ur policies away.

 

[AhBui168]

agent good or bad is very hard to say.
only time can show.
but everywhere is the same.
even a 58 yo good friend can marry your 18 yo daughter: http://forums.hardwarezone.com.sg/e...r-old-gf-not-inviting-her-father-5078472.html
be responsible for yourself.
be very clear of what u buy.
read through every single t&c and understand them, at least at the point of sale.
make sure someone in your family knows what u have bought and where u keep them..
dont lock or throw ur policies away.

Bro, there are too many plans s out there.
Sometimes agents tell me about the plan till blur already.
Thanks.