Axa Pulsar

[blurpandasg2014]

I have spoken to my agent however she wasn't able to give me a satisfactory reply on the fee structureu and calculations . She claimed that it was payable at 4%+1.5%/annum only for first 18mths + $120. Thereafter it is 1.5% + 120 / annum (abt 5.5%)

Dont find it a good deal as the fund has to perform >5.5% before i make any profits. I may look at posb invedt savers instead.

Thank you for all your help. Really appreciate it

 

[stoneblackdragon]

You're welcome! Good to see another person escape the clutches of ILP.
Remember to get a good basic insurance for your NEEDS.

Be it disability income,
hospital and surgical (integrated shield plans),
term (some money for your family if the unfortunate happens).

Whichever suits your needs. Insurance is insurance, investment is investment.

Some good reads to get you started based on a local context.
These are just info about the Straits Times Index, ETF. straits times index is the thing we see on the news daily, the exact points 33?? now.. You know exactly what you are getting, and the stocks are with the 30 biggest companies in Singapore.

Invest only if you believe Singapore will still be a rich country and will keep growing for the next 30 years (barring some ups and downs).

Why you should build wealth passively with POSB Invest-Saver | Investment Moats - Stock Market Investing
turtleinvestor.net

A Lump Sum investment in STI ETF near the top of the Great Financial Crisis | Investment Moats - Stock Market Investing
http://www.investmentmoats.com/stoc...ca-investing-at-the-top-of-the-bear-market-2/
Will you lose money on a bond ETF in a rising interest rate environment? | Investment Moats - Stock Market Investing

I'm not from POSB hor, OCBC BCIP does the same if u are putting it more.
The costs are 1% for POSB. so if you invest $250 a month, it is $2.50 each time. $30 a year. compared to AXA $10 a month in maintainence fees alone, not counting their 4% charge +++

You can also check out how the STI-ETF performed.. comparable to the schroder asian growth they recommended. You even get dividends in cash back to your bank account. compared to it being factored into a fund NAV which seems dubious

You can even buy cheaper from Stanchart..

If you really wanna buy funds out of Singapore, because you dont like singapore companies or whatever reason.

You can buy ETFS or index funds.. or you can use fundsupermart or dollardex to buy unit trusts. Heck, u can even log in now to your POSB online to buy unit trusts, I'm sure the schroder fund is there and a similar healthcare fund, (although I dont know enough about those).
POSB charges 1.5% sales charge if i remember correctly.

U can also log in now to check out the STI ETF and set up a regular saving plans, pause it or terminate it anytime you want too.. with no surrender value... unlike insurance

 

[Rmondo]

Always good to read about all the new "innovative" products from people.

Seems like the insurance firms have began to move to the baiting model. Dangle a nice carrot upfront (174% start up bonus)and then once you snap it up the butcher knife swings in from behind with the ludicrous fees (4%?! not even counting the actual fund's fees.)

Jesus Christ, I mean seriously how do these products even get onto the streets? Its bloody criminal.

MAS should take a page out of HKMA's book and start regulating this class of products seriously.

 

[stoneblackdragon]

Always good to read about all the new "innovative" products from people.

Seems like the insurance firms have began to move to the baiting model. Dangle a nice carrot upfront (174% start up bonus)and then once you snap it up the butcher knife swings in from behind with the ludicrous fees (4%?! not even counting the actual fund's fees.)

Jesus Christ, I mean seriously how do these products even get onto the streets? Its bloody criminal.

MAS should take a page out of HKMA's book and start regulating this class of products seriously.

Scary right, one of my friend is paying $700 a month in premiums alone for an ILP, when he told me about it and I look at the surrender value, he will lose almost 7k , just after his first year.. dunno how he gonna tahan till breakeven point

 

[Rmondo]

If I put in $12000, I will get $32,880 because of the bonus. On the 10th year I will get an additional 4% of total premium paid. Policy maintenance fee will be refunded at end of payment term. With all these included, the fees is less than 2%.

As always, cost. If today a fund that has a track record of getting a growth of 15% for past 10 years. I won't mind giving the fund manager 2%. You dare charge high, the returns must be there. Want low charges? Go for bonds then. 2-3% returns with only 0.5.0.6% management fee. And such funds already have their fund management fee included in their fund growth.

Why the private banking clients don't look at cost as their #1 priority but rather how much potential growth they are able to get from the money invested? But retail investors will always look at cost first.

But of cos, most investors in HWZ are smart and good investors.

How desperate you must be to bring in "private banking" clients to highlight how "smart" we are.

You do realise you're comparing apples and oranges? Yes they belong to the same family called fruits but they're significantly different. Rich people aren't stupid, and they do know what they're paying for. Cost does matter, the only difference is that they also factor in the intangibles, on what the RM can offer in addition to the same products offered across banks aside from other factors such as systems used in discretionary portfolio management.

This is the only reason why RMs are still around, aside from the usual things like arranging for air plane tickets, giving them event tickets to things like arranging networking sessions, opening up potential business opportunities based on the RM's contacts, so on and so forth. The list of stuff, shady or not goes on but you get my point. They're not paying exorbitant fees over alternative strategies for "potential growth", that term is overrated.

For the man on the street, the agents sell you the policy and poof, once the premium is paid and policy delivered. That's it. Don't give us the BS about potential growth when you're looking at terms of 20 years and more. The statistically proven strategy which a typical man on the street should adopt when looking at investing for the long term especially if you're talking about funds is simply buying into something that offers as little fees as possible and the very product you're defending is the opposite of that.

 

[ironbird]

First of all, why are u interested in this plan? Dont buy because of the promo. Ok?
Second, does it suit your financial objective. A professional planner should plan comprehensively and allow you to see your situation appropriately instead of product selling.

Pulsar is both good only if the term is long and the amount is high enough. As it is a certain percentage plus fixed admin fee, the monthly amount shld be $500 and above to make it at least more cost effective. $10 is a bigger percentage for $250 compared to $1000. Got it?

The people here bombed the plan as they do not fully understand this. There are refund of policy fee and bonus allocation. In a way, all these are to offset the charges. If you just save the money long enough, the plan is actually okay. The charges are offset by the allocation and the refund eventually. You realized the plan's charges dropped when you are in the 2nd phase, as the pot gets bigger, the charges proportionately becomes smaller. So if it is long term, the charges is actually okay.

The good point is, it force u to keep the plan so you maintain to reach your goals. Plus this plan is give flexibility to draw anytime but it remind you to always save for your long term goal.
Compared to a RSP plan, of coz it is of lower charges. But what I see is because the plan is too flexible, people eventually do not stick to their original objective and go off course and stop the plan, take the money out to dabble into other stuff.
It's more of your needs than your agent's needs. Ask more questions about the plan.

 

[FP_IFA]

First of all, why are u interested in this plan? Dont buy because of the promo. Ok?
Second, does it suit your financial objective. A professional planner should plan comprehensively and allow you to see your situation appropriately instead of product selling.

Pulsar is both good only if the term is long and the amount is high enough. As it is a certain percentage plus fixed admin fee, the monthly amount shld be $500 and above to make it at least more cost effective. $10 is a bigger percentage for $250 compared to $1000. Got it?

The people here bombed the plan as they do not fully understand this. There are refund of policy fee and bonus allocation. In a way, all these are to offset the charges. If you just save the money long enough, the plan is actually okay. The charges are offset by the allocation and the refund eventually. You realized the plan's charges dropped when you are in the 2nd phase, as the pot gets bigger, the charges proportionately becomes smaller. So if it is long term, the charges is actually okay.

The good point is, it force u to keep the plan so you maintain to reach your goals. Plus this plan is give flexibility to draw anytime but it remind you to always save for your long term goal.
Compared to a RSP plan, of coz it is of lower charges. But what I see is because the plan is too flexible, people eventually do not stick to their original objective and go off course and stop the plan, take the money out to dabble into other stuff.
It's more of your needs than your agent's needs. Ask more questions about the plan.

Give me $10,000 now. I will return back to you the exact amount 10 years later.

 

[jc_snowy]

Give me $10,000 now. I will return back to you the exact amount 10 years later.

Hi hi FP_IFA, your PM mailbox is full..

 

[FP_IFA]

Hi hi FP_IFA, your PM mailbox is full..

I am sorry. Its fixed...

 

[Mr_potatoe]

sorry to bump on old thread.
Advice needed from lao jiao.
I bought this pulsar for almost 3 years now.
I already have the initial unit account and now is accumulating funds for my flexible account. Now after thinking back I kinda regret of my old decision and wanted to pull out. If I close my account now I would lose around 5400 and only get back 3000+ from my flexible account.
Do you think I should close my account or withdraw all the money from my flexible to pay for my monthly premium until it mature to get back the initial account sum?
Thanks in advance

 

[Arrows -> Hearts]

don't mean to dig.. buuuuut whats your opinion on this Axa Pulsar?

 

[The Accountant]

don't mean to dig.. buuuuut whats your opinion on this Axa Pulsar?

Two folks almost fainted in this tread. I read the details I also -_-"

It's too complicated and there are too much layer to the costs involve.

My opinion: you should keep your investment simple. Run away from this one.

 

[Perisher]

don't mean to dig.. buuuuut whats your opinion on this Axa Pulsar?

Seriously think you are digging on purpose. There are only 3 pages and you can't be bothered to read?

 

[Shiny Things]

don't mean to dig.. buuuuut whats your opinion on this Axa Pulsar?

It's an awful product. The fees are high, the investment options are awful; you'd be better off buying term life insurance and investing through ETFs. Avoid it.

 

[Arrows -> Hearts]

It's an awful product. The fees are high, the investment options are awful; you'd be better off buying term life insurance and investing through ETFs. Avoid it.

tks mate..

Seriously think you are digging on purpose. There are only 3 pages and you can't be bothered to read?

don't be silly. only 3 pages of info

just thought, whether anyone else has anything else to add...

 

[Perisher]

don't be silly. only 3 pages of info

just thought, whether anyone else has anything else to add...

3 pages of useful information which should already tell you how bad it is?

And if you really bother to...

Threads on this product is not hard to find.
http://forums.hardwarezone.com.sg/money-mind-210/pulsar-start-up-bonus-174%-5028121.html
http://forums.hardwarezone.com.sg/money-mind-210/urgent-advice-needed-axa-pulsar-ilp-3644326.html

That's 10 pages on 1 product if you bother to search on google.
10 pages on 1 bad product is plenty. The amount of ILPs on the market would result in over 100 pages worth of bad product discussion.

 

[archcherub]

3 pages of useful information which should already tell you how bad it is?

And if you really bother to...

Threads on this product is not hard to find.
http://forums.hardwarezone.com.sg/money-mind-210/pulsar-start-up-bonus-174%-5028121.html
http://forums.hardwarezone.com.sg/money-mind-210/urgent-advice-needed-axa-pulsar-ilp-3644326.html

That's 10 pages on 1 product if you bother to search on google.
10 pages on 1 bad product is plenty. The amount of ILPs on the market would result in over 100 pages worth of bad product discussion.

honestly there are tons of wealthy information on ILP here.
and specific threads on specific ILP products from specific insurer.

almost every single thread points to a conclusive answer (based on maths and facts, not "opinions" as usually portrayed by someone who would insist he is not an insurance agent)

I wish every one who comes in here is made to SEARCH or GOOGLE first.

no wonder Singaporeans lose so much money to scams every year!

 

[reinphd]

Many have contributed to facts and figures as to why ILP is not the way to go if you're looking for investment and insurance. Separate them.

Sent from Samsung SM-G900F using GAGT

 

[Perisher]

We'd love to help you understand Pulsar better, perhaps you could call us at

AXA people are getting so desperate. Please talk above board right here.
This product is bad.

 

[af7680]

its not related question but would like to gather opinon on AXA as i am considering buying term life from AXA.
they provide one of the cheapest.. is it ok company to buy from ?
what is your thought. TIA