PremierLife Generation with Financing

[vanyzz]

Hi,

During this period of high interest rate... Anyone in the same situation as me?

Stuck with PremierLife Generation with high interest cost on the leveraged financing?

I am feeling worried and perplexed as i see the increasingly amount of interest i have to take on.

 

[boredboiboi]

Hi,

During this period of high interest rate... Anyone in the same situation as me?

Stuck with PremierLife Generation with high interest cost on the leveraged financing?

I am feeling worried and perplexed as i see the increasingly amount of interest i have to take on.

Pay off the financing. When interest drop then leverage again

 

[reddevil0728]

Pay off the financing. When interest drop then leverage again

possible to do so?

 

[boredboiboi]

possible to do so?

Can check with the bank. Last check is can be done but of course the financing might not be as good in the future. As in the base before adding the floating

 

[Value.Matrix]

Hi,

During this period of high interest rate... Anyone in the same situation as me?

Stuck with PremierLife Generation with high interest cost on the leveraged financing?

I am feeling worried and perplexed as i see the increasingly amount of interest i have to take on.

Can only say draw less cashflow and pay off more of the loan amount. This is a risk that should be highlighted.

 

[reddevil0728]

Can only say draw less cashflow and pay off more of the loan amount. This is a risk that should be highlighted.

I think a lot of people myopic and didn't want to think of low probability possibilities, so now regret. hence it is important to always think of low probability possibilities and plan ahead what one might do rather than punt it.

 

[xtwis7]

When sharing on financing, one must have acknowledged the possibility of rising rates because downside is always present. Basing monthly repayments on low rate taken up could also cause someone to misjudge. Just like properties, everybody knows that rates can go up but yet confronting that truth hurts the most.

 

[sdexxxxd]

Restarting this topic in 2025

Anyone has experience with buying OCBC Premierlife Generation V? Tks.

 

[reddevil0728]

Restarting this topic in 2025

Anyone has experience with buying OCBC Premierlife Generation V? Tks.

Do you have a deeper question than who bought?

 

[JuniorLion]

To answer your question, I have experience.

 

[reddevil0728]

To answer your question, I have experience.

Always wonder when such question is asked, are they really only keen on finding out if ppl got experience? Or they got deeper question.

dunno why don’t just go straight to the point.

 

[singaporean11]

Restarting this topic in 2025

Anyone has experience with buying OCBC Premierlife Generation V? Tks.

Is this the one that asks you to buy at least S$1M insurance or more with the Financial Adviser illustrating a big lump sum or annuity payout 20 years or more later (non-guaranteed) and you can borrow 80% and then pay monthly instalments based on prevailing interest rate?
This was "hot" a few years ago when interest rate was low!

Luckily I didn't fall for such scheme! The one I was briefed is from AIG

 

[60Remajust]

i think easy way to know if u should avoid a product if it ilustrates a non-guaranteed bs return

usually they come up with fairy tale number only becuase the product will oterhwise look like dogsh*t

 

[CrashWire]

i think easy way to know if u should avoid a product if it ilustrates a non-guaranteed bs return

usually they come up with fairy tale number only becuase the product will oterhwise look like dogsh*t

Insurance companies not allowed to come up with BS illustrations anymore. LIA capped it at 3% to 4.25%.

https://www.lia.org.sg/media/2976/2...nsurance-industry-revising-caps-on-par-pi.pdf

Ultimately the main question people need to ask is what are the fees.

 

[JuniorLion]

Re-leverage after paying off the loan is a fixed 5.75 - 6 % interest rate, accrued daily and compoundedly at policy inception date (yearly).


Not wise

 

[singaporean11]

Re-leverage after paying off the loan is a fixed 5.75 - 6 % interest rate, accrued daily and compoundedly at policy inception date (yearly).


Not wise

You mean the loan has a fixed 5.75-6% interest rate p.a.? Wow!

 

[DevilPlate]

Re-leverage after paying off the loan is a fixed 5.75 - 6 % interest rate, accrued daily and compoundedly at policy inception date (yearly).


Not wise

Makan comm plus charge loan shark interest rates

But then why pay off and releverage? Yr original loan shd be tied to sibor floating rates right and has come down alot liao.

 

[JuniorLion]

Some financial adviser said that above

 

[chopra]

How do we compare tbill or iwda against this, assuming we surrender at 65? My simple quick way.

Based on their website to surrender at 65, xiir assuming never reinvest monthly payout is ard 2.4%pa. This is not a good investment. I put cpf oa better.
500k x 1.024^25=900k

 

[chopra]

Always wonder when such question is asked, are they really only keen on finding out if ppl got experience? Or they got deeper question.

dunno why don’t just go straight to the point.

I speak to alot of ppl for my daily work. Most ppl are ten year series smart but it requires alot of effort and thought to frame a question. Not that ppl are not smart, but i think ironically many cannot afford the time for big investment decisions.
One possibility of the person is that he is trying to suss out ppl that buy this and borrow their immediate analysis.