Getting started with insurance

[zeezeex]

Change agent, new agent no commission, but income change of agent got commission which is very very little as main commission is on first year.
Change to another hospital plan, new agent got commission.

I see. Oh man that kinda sucks for the new agent as main commission is on first year. Thanks!

 

[boredboiboi]

I see. Oh man that kinda sucks for the new agent as main commission is on first year. Thanks!

You are welcome

 

[xtwis7]

I see. Oh man that kinda sucks for the new agent as main commission is on first year. Thanks!

Yes so in fact you’re doing the incumbent agent a huge favour and the next one a huge disservice if all you’re thinking of is transferring because the next agent basically earns nothing. Most agents are fine as a goodwill service.

There must be a reason why you are transferring.

 

[GGGGGG]

Is there any best one-time premium of say 20/30k for savings plan? Thinking to plan for my child education for use 18 to 20 years later..

 

[boredboiboi]

Is there any best one-time premium of say 20/30k for savings plan? Thinking to plan for my child education for use 18 to 20 years later..

Yes there is

 

[GGGGGG]

Yes there is

Any recommendation / plan name from the respective insurers

 

[boredboiboi]

Any recommendation / plan name from the respective insurers

From income is gro flexi saver, manulife is readybuilder. This 2 is the Favourite 2 from my list. The rest of the insurer from my side doesnt have. This plan allow u to let the money grow as long as u want, withdraw accordingly when needed at the stages of life. If nv withdraw, it will continue to grow with guranteed and non guaranteed continuing to grow.

 

[Jonlovefood]

hey bro which insurer u from?

 

[boredboiboi]

hey bro which insurer u from?

1 of the FA which allows me to able to sell multiple insurers. Are you looking for any specific insurer?

 

[Nancy Fancy]

Any recommendation / plan name from the respective insurers

GE 's plan GWM: you can surrender the plan when you need it, otherwise can just let $$$ grow.

 

[neanea]

an agent recommended me an endowment plan that I will pay upfront $50K and the policy will deduct $10K every year for first 5 yrs. there is a tiny cash rebate in return. Is there any disadvantage to such payment plan?

 

[reddevil0728]

an agent recommended me an endowment plan that I will pay upfront $50K and the policy will deduct $10K every year for first 5 yrs. there is a tiny cash rebate in return. Is there any disadvantage to such payment plan?

so a total of 100k in outlay? what's the returns like?

 

[boredboiboi]

an agent recommended me an endowment plan that I will pay upfront $50K and the policy will deduct $10K every year for first 5 yrs. there is a tiny cash rebate in return. Is there any disadvantage to such payment plan?

Whats the plan name?

 

[neanea]

Whats the plan name?

From prudential

 

[boredboiboi]

From prudential

Maybe u can ask the plan name ? Prudential is a company, they have alot of plan. Wouldnt want to comment much until know what plan it is.
There are a few type. Some is use the cash payout feature to pay for future premium etc.

 

[Nancy Fancy]

an agent recommended me an endowment plan that I will pay upfront $50K and the policy will deduct $10K every year for first 5 yrs. there is a tiny cash rebate in return. Is there any disadvantage to such payment plan?

In fact, GE also got similar one .. . we call it " prepayment" and client will be given some rebate due to prepayment. It depends on whether you prefer a lump sum payment or a 5-years pay.
Meanwhile, need to look at the return from the plan.

 

[exterminazn]

an agent recommended me an endowment plan that I will pay upfront $50K and the policy will deduct $10K every year for first 5 yrs. there is a tiny cash rebate in return. Is there any disadvantage to such payment plan?

Only disadvantage I can think of is your money will be tied up….

GE great wealth multiplier has similar feature

 

[neanea]

Prudential's endowment return projection has be consistently revising down. Any one have similar case?

 

[boredboiboi]

Prudential's endowment return projection has be consistently revising down. Any one have similar case?

Its the same for anyone that take up the same plan. It not only affect 1. So dont worry that it only affects you and some other insurers have revise down too.

 

[Mr. Wood]

Its the same for anyone that take up the same plan. It not only affect 1. So dont worry that it only affects you and some other insurers have revise down too.

i understand it as only plans with cashback feature ("benefit") are affected. plans dat can touch money only after plan matures (or if terminate) are not affected by revise rates.
true?