Prudential Investment Linked Account

[AnTiLooP]

i've a Prudential investment linked account and am trying to decipher how the fund performed for the past year 2017. I'm not quite savvy when it comes to fund management so looking for some help here to clarify.

My premium paid per year is 2000, and assuming the following.:

Premium Paid for the past year : 2000
Dec 2016 Opening Balance : 20000
Dec 2017 Closing Balance : 25000

Would the profit which i've gotten be as follows:

(Dec17 - Dec 2016) - Premium Paid = 25000 - 20000 - 2000
Balance: 3000.

Meaning to say the interest which i've earned for the past year is 3000/20000 * 100 = 15% ?

is that correct?

 

[ashethen]

You paid for how many years? You need to annualize the interest rate

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[AnTiLooP]

since I was 14 but I did do partial withdrawals at certain points. what do you mean by Annualized interest?

sorry, all i'm trying to ascertain is how much profit i have gained (minus premiums i have paid) for the past year.

 

[ashethen]

since I was 14 but I did do partial withdrawals at certain points. what do you mean by Annualized interest?

sorry, all i'm trying to ascertain is how much profit i have gained (minus premiums i have paid) for the past year.

Total interest earned divide by number of years is the annualized interest rate (disregarding any compounding)

You should compare it with what the banks are offering now since a few of them giving 2% interest quite easily.

ILP is a waste of money.

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[AnTiLooP]

Thank you but I'm really just wanting to understand if my logic to determine how much I made last year (yes, just last year) makes sense or is it flawed.

thank you.

 

[oceanicmanta]

if premiums paid beginning of year, then your capital shld be 22,000

also, is your end 2017 value based on Bid or Ask ? .. there's a 5% spread there

 

[AnTiLooP]

if premiums paid beginning of year, then your capital shld be 22,000

also, is your end 2017 value based on Bid or Ask ? .. there's a 5% spread there

its paid on a monthly basis and based on bid.

 

[matt00]

since I was 14 but I did do partial withdrawals at certain points. what do you mean by Annualized interest?

sorry, all i'm trying to ascertain is how much profit i have gained (minus premiums i have paid) for the past year.

can advise how to do partial withdrawals?

 

[AnTiLooP]

can advise how to do partial withdrawals?

just contact prudential directly or alternatively, go to Prudential counter and ask for it. they will provide the forms etc and monies can be taken out in a few days.

 

[Toni90]

Can so simple approximately one 3000/21000~14.3%. Good year.

 

[AnTiLooP]

Can so simple approximately one 3000/21000~14.3%. Good year.

that's what I thought... just wanted to ask here just incase i got it all wrong.

good to know..

 

[matt00]

just contact prudential directly or alternatively, go to Prudential counter and ask for it. they will provide the forms etc and monies can be taken out in a few days.

Thanks for the info.

 

[TheRock2302]

are you still in contact with your agent?