help me evaluate this Manulife retire ready plan

[FP_IFA]

a Dbs wealth planner offered me this product last week.

she showed me my low balance portfolio with them and then started to write in scratch paper how good this retireready.
I said the product looks good. Then, she asks for my NRIC card to enroll.

what da?? I said I need time to review and it told her to send me more information like brochure and terms and condition. I want to read some fine print.

weird thing is. her formal offer is written in "scratch paper" ? is this how DBS doing now?

anyway, any peeps here can say that retireready is ok?

Did you ask her for it? It shouldn't take long for her to generate it for you. Always ask for it because paper presentation anyone can said what they want. What you want is to have the exact generate quote to go back and go through.

 

[FP_IFA]

A friend, DBS Private Client, was shown some Universal Life product. Asked me to take a look. I asked for the terms but only hand-written on paper ... what the heck ?!!?

Get your friend to ask for a generated illustration. Should be easily generated by the banker.

 

[lifeishard]

You wannna buy savings product, you only look at guaranteed portion for peace of mind. You wanna buy universal life, you make sure you do not surrender.

In fact, why buy universal life? Just buy million dollars term to age 99 (note: both require you to be at best of health). Compare both of them and see which premium is lesser.

 

[revogsx]

I guess DBS wants to conserve paper or they want to avoid showing those "not guaranteed" portion.

A friend, DBS Private Client, was shown some Universal Life product. Asked me to take a look. I asked for the terms but only hand-written on paper ... what the heck ?!!?

 

[oceanicmanta]

Get your friend to ask for a generated illustration. Should be easily generated by the banker.

I did ask her to request for it, she said RM would only provide what's written on paper and there's nothing else.

What a joke.

But seriously, it was not for a small amount & involves FX some more. How can like that ??!!

 

[FP_IFA]

I did ask her to request for it, she said RM would only provide what's written on paper and there's nothing else.

What a joke.

But seriously, it was not for a small amount & involves FX some more. How can like that ??!!

Ya I can't think of a valid reason to not provide the full illustration.

The UL involves should be Manulife Heirloom and typically involves huge premium. Better to be careful with such big commitment.