IM PISSED!

[Skoda29]

Dog also knows he got short changed.

 

[Mecisteus]

First few years of premiums used to pay for your agent new Mercedes liao.

 

[mcylo]

I cropped out all the doxxing details. And circled all the important points.

this is a ILP.

3 pointer to make;

Starting year 2017
Yearly premium to pay $2400.0
Value now year 2024 $321.00

surrender value $128.00!
=======================
气死我了！
I STILL REMEMBER CLEAR AS DAY, that BLARDY agent can tell me with a very serious, straight face to me, “ i want to help you save for your future, i scared next time you don’t have saving!!

i put in bank earn 0% interest also way better lor!!!

PUI LA!!!

U ownself is Kum lan no body can save u

 

[kyokoto]

You invested $16,800 but now only valued at $321? Whoa... suck ur money like vacuum cleaner.

 

[Sadisticnoob]

So what is the underlying fund

 

[bruiser69]

Know what is an oxymoron?

Giant dwarf
Deafening silence
Cruel kindness
Honest agent

 

[Shion]

ILPs are all crap.

 

[shagrat]

Others have mentioned about front end loading of ILP, there is a good illustration by DBS on this: https://www.dbs.com.sg/treasures/articles/wealth-feed/ilps
In the example by DBS the, in the first year 85% of goes to insurer's costs (inc agent commission, insurance premium etc), which is very significant!

Also people often forget that ILP has insurance portion, and depending on the coverage it might end up eating significant portion of the fund leaving much less for the investment. Not to mention investment uncertainty, that makes ILP to be even more complicated, and money loss guarantee in the short term.

So generally it's advisable to just separately do insurance (essential ones to protect yourself and family) and investment. But well damage is done for TS, just move on and take it as a lesson

 

[ExcuseRMJ]

wtf hard earned money just disappear like that.. Even buying the toto/4D is better than this.

 

[lifeafter41]

TS, the agent thank you for your contribution to their condo and Maserati.

 

[heroking]

so you lost money?
isnt this supposed to be investment?

 

[Lchlch]

I cropped out all the doxxing details. And circled all the important points.

this is a ILP.

3 pointer to make;

Starting year 2017
Yearly premium to pay $2400.0
Value now year 2024 $321.00

surrender value $128.00!
=======================
气死我了！
I STILL REMEMBER CLEAR AS DAY, that BLARDY agent can tell me with a very serious, straight face to me, “ i want to help you save for your future, i scared next time you don’t have saving!!

i put in bank earn 0% interest also way better lor!!!

PUI LA!!!

Bro that is what any agent good atthat is to smoke people n bait people into signing up contract.

 

[Money no have]

so you lost money?
isnt this supposed to be investment?

Not not an investment.

the agent specifically said it is a saving account, a “ forced “ you to save type.
So i was thinking even if never make any investment gain, at the very least still have the principle right? Wrong!

 

[BigMonkey]

lets rephrase “I want you to help me save for my future”

 

[Kanko San]

I cropped out all the doxxing details. And circled all the important points.

this is a ILP.

3 pointer to make;

Starting year 2017
Yearly premium to pay $2400.0
Value now year 2024 $321.00

surrender value $128.00!
=======================
气死我了！
I STILL REMEMBER CLEAR AS DAY, that BLARDY agent can tell me with a very serious, straight face to me, “ i want to help you save for your future, i scared next time you don’t have saving!!

i put in bank earn 0% interest also way better lor!!!

PUI LA!!!

You bet.
My wife was conned at OCBC Tampines central.
Teller refer her to talk to an agent there after seeing my wife bank account 30 years back.
Agent told my wife. ILP is like fixed deposit. Can get back more even after 10 year.
My wife every year puy $2k n after 10 years, got back less than 1/4 of original investment.
My wife want to keep her saving secret, hence never tell me on buying an ILP investment.
Hope Karma strike that Agent for conning pple that ILP is like FD

 

[BigMonkey]

ownself buy stock, at least if never sell is not a lost.

This type of policy once buy can only go one direction.

 

[coolhead]

You invested $16,800 but now only valued at $321? Whoa... suck ur money like vacuum cleaner.

Could have bought a Starbucks or top up abit get a bluesy

 

[Jian19]

Well only 20k lost

At least no debt

 

[Lchlch]

You invested $16,800 but now only valued at $321? Whoa... suck ur money like vacuum cleaner.

TS invest in high risk investment policies?

I hv a ex colleague, she saw her SIL invested some policies and earn ten over thousands of dollar.
She tempted.

I told her don't as this is a risk investment, anything can happen.
But she refuses to listen.

Pump in $200k.
Guess what, she now made a lost of $100k.

She kpkb why like that? As the agent promises her good return. She called ahent n demand what happen . Agent dont pick up her call

I refuses to gv her any caution from that day onwards since she so hot headed n refuse to listen.
Greed destroy you.

 

[Ahemahem]

Can i faster cancel my exisiting ILP policies now
Like bo hua