PRUDENTIAL SAVINGS SAGA

[koja6049]

BI is usually not part of the Policy Contract. Policy Schedule, Policy Wording, Endorsement, Application Form, forms a legally binding Policy Contract. Some policy contract may recognise some other entities, such as written correspondence, as part of the it.

let's say you only sign against the application form and BI, not the policy wording. Is there a chance of dispute if somehow the BI doesn't match the policy wording?

 

[soneat]

let's say you only sign against the application form and BI, not the policy wording. Is there a chance of dispute if somehow the BI doesn't match the policy wording?

BI is just an illustration and usually not an entity to the Policy Contract. The policyholder should take a closer look at the Policy Wordings to see if this is the case for this Policy.

 

[Mecisteus]

Exactly. Can cancel at anytime get back capital. No penalty for early redemption such as tiered interest structure that gives you lower interest if you redeem early.

In fact it's so good I don't know why fixed deposits still exist. They give lower interest plus when I take out my money from FD they eat my interest tmd.

FD will still have a market to attract those who have bigger capital to park.

SSB has a limit for each person.

 

[Shion]

I took another look at the fb post, on photo 3 is actually listed "ENDOWMENT ASSURANCE" as assured sum 20k. The rest are insurance. So I think the parents either bought this for insurance, or they are being duped by the insurance agent.

I would say, best is able to get hold the entire policy and scan through each page to have a better picture of this case.

 

[Bigoya]

is there even a plan that guarantees 100% of capital even if 0% returns ? if so, please do kindly point us to it..

as in lets say returns are not guaranteed, but at least I can get back 100% of what I put in ? Is there even such a plan?

Yes there are.
Don't let your ignorance mislead you and let yourself mislead others.

TQVM.

 

[T-Mobile]

ur $100/mth fixed deposits is a useless argument because if ever they need the money urgently and wants to take it out before 20 years, they definitely get back A LOT lesser than their capital, while for fixed deposits they only forfeit any interest they might have gotten but still able to get back their original capital

cannot compare with FD ,
FD return is fixed and boring
unlike ILP got chance ( 1% chance ? ) for upside return .....
and of cos the least mentioned by agents , non capital guaranteed

 

[akwl88]

Ssb simply beats endowments hands down unless endowments can guaranteed 3% and above returns?

 

[Lewis.T]

Ssb simply beats endowments hands down unless endowments can guaranteed 3% and above returns?

Ya ssb beats endowments because ssb got more than guaranteed 3%! No frills no loopholes guaranteed by sg gov.

Chiu all still waiting for what? Anytime can sell and get back capital some more, zero risk. ZERO

 

[akwl88]

Ya ssb beats endowments because ssb got more than guaranteed 3%! No frills no loopholes guaranteed by sg gov.

Chiu all still waiting for what? Anytime can sell and get back capital some more, zero risk. ZERO

Of course

Will spread word for awareness

Less commisions for agents, more money for consumers

 

[eboy]

Ya ssb beats endowments because ssb got more than guaranteed 3%! No frills no loopholes guaranteed by sg gov.

Chiu all still waiting for what? Anytime can sell and get back capital some more, zero risk. ZERO

SSB yield has never been more that 2.7% since inception,

And the interest is step up - it's not a flat interest yearly

Don't mislead others if you don't the facts

https://secure.sgs.gov.sg/fdanet/StepupInterest.aspx

 

[Lewis.T]

Of course

Will spread word for awareness

Less commisions for agents, more money for consumers

And with the power of SSB and STI ETF combined, the obvious two solutions for all your BTIR worries, we surely can emulate and outperform capital guaranteed endowments where ~50% of the money go to agents!

Means if the premium $2.4k for 20 years, they take $48000/2? No wonder those scums driving BMWs and Audis. Make my blood boil only.

Anyway, lets say I every month I can only set aside $200 for this purpose how ah akwl88? Can help me formulate my solution? How much go to SSB how much to ETF? And then I end everything at year 20 ok?

Remember I want it to be at least capital guaranteed, cause no agent scum stealing my money now surely I can expect more from my solution right?

Thanks in advance for your time, I know it's precious because your post count shows that you're a very busy person.

 

[havetheveryfun]

Yes there are.
Don't let your ignorance mislead you and let yourself mislead others.

TQVM.

if I have to ask such a question, then obvs I was the one being misled by others in the first place... the qn is why didn't agents in the past recommend such plans, but try to push for other plans where the capital is non-guaranteed? and obvs, I am not the only one who is ignorant or misled judging by how so many people jump out to shoot at agents whenever such threads appear.

I am sure most ppl who bought endowment plans never expected more than 3-4% returns since most of the benefit illustrations uses 4.75% as a maximum yield projection .. and pruwealth's brochure itself says 3+ % non-guaranteed returns

then there wouldn't be so many complains and "sagas" already

SSB yield has never been more that 2.7% since inception,

And the interest is step up - it's not a flat interest yearly

Don't mislead others if you don't the facts

https://secure.sgs.gov.sg/fdanet/StepupInterest.aspx

hes just being sarcastic.. u cant tell ah

 

[eboy]

And with the power of SSB and STI ETF combined, the obvious two solutions for all your BTIR worries, we surely can emulate and outperform capital guaranteed endowments where ~50% of the money go to agents!

Means if the premium $2.4k for 20 years, they take $48000/2? No wonder those scums driving BMWs and Audis. Make my blood boil only.

Anyway, lets say I every month I can only set aside $200 for this purpose how ah akwl88? Can help me formulate my solution? How much go to SSB how much to ETF? And then I end everything at year 20 ok?

Remember I want it to be at least capital guaranteed, cause no agent scum stealing my money now surely I can expect more from my solution right?

Thanks in advance for your time, I know it's precious because your post count shows that you're a very busy person.

No endowment in the market has 50% comm

Only certain life plans

 

[Perisher]

And with the power of SSB and STI ETF combined, the obvious two solutions for all your BTIR worries, we surely can emulate and outperform capital guaranteed endowments where ~50% of the money go to agents!

Means if the premium $2.4k for 20 years, they take $48000/2? No wonder those scums driving BMWs and Audis. Make my blood boil only.

Anyway, lets say I every month I can only set aside $200 for this purpose how ah akwl88? Can help me formulate my solution? How much go to SSB how much to ETF? And then I end everything at year 20 ok?

Remember I want it to be at least capital guaranteed, cause no agent scum stealing my money now surely I can expect more from my solution right?

Thanks in advance for your time, I know it's precious because your post count shows that you're a very busy person.

If you wanna continue to troll here. Let this be a warning.

 

[Bigoya]

if I have to ask such a question, then obvs I was the one being misled by others in the first place... the qn is why didn't agents in the past recommend such plans, but try to push for other plans where the capital is non-guaranteed? and obvs, I am not the only one who is ignorant or misled judging by how so many people jump out to shoot at agents whenever such threads appear.

I am sure most ppl who bought endowment plans never expected more than 3-4% returns since most of the benefit illustrations uses 4.75% as a maximum yield projection .. and pruwealth's brochure itself says 3+ % non-guaranteed returns

then there wouldn't be so many complains and "sagas" already

Must have been misled by akwl and and other anti-agents then

Such plans generally has lower commissions compared to those plans commonly pushed around by agents, and it is also tougher to sell to noobcakes like students and army boys since they all like savings plans that can withdraw money one. It's easy to sell to them because they don't know what's guaranteed and non-guaranteed, they only know BI 4.75%

Also, such plans didn't exist back in the 90s. Probably only started after yr 2000? AXA's one came out last year.

The least transparent thing about the projected figures is that, 3.25% and 4.75% refers to the par fund's performance.
The $$$ below are figures calculated after distributions are deducted from the initial say, 4.75% projected values.
If anyone is to calculate the net IRR of the $$$ figures, you'd realize a lower value, which is explained in the BI under "Reduction in Yield".

Thank you for giving me a chance to explain the details to you.

 

[Lewis.T]

If you wanna continue to troll here. Let this be a warning.

Oh I see how it is, when I discuss intellectually you dismiss my arguments per fas et nefas. When I decide to follow awkl88's posting habit I get a warning LOL.

Ok the quality of money mind might as well be in the gutters with all the people here having the same viewpoint.

Also how is dismissing my query for an answer helping your cause to educate the masses? I had a legit question I expect people to help me with the answer.

Anyway, lets say I every month I can only set aside $200 for this purpose how ah akwl88? Can help me formulate my solution? How much go to SSB how much to ETF? And then I end everything at year 20 ok?

Remember I want it to be at least capital guaranteed, cause no agent scum stealing my money now surely I can expect more from my solution right?

 

[Bigoya]

If you wanna continue to troll here. Let this be a warning.

Why the God of Trolls aka akwl88 nv kenna warning de?

 

[Perisher]

Must have been misled by akwl and and other anti-agents then

Such plans generally has lower commissions compared to those plans commonly pushed around by agents, and it is also tougher to sell to noobcakes like students and army boys since they all like savings plans that can withdraw money one. It's easy to sell to them because they don't know what's guaranteed and non-guaranteed, they only know BI 4.75%

Also, such plans didn't exist back in the 90s. Probably only started after yr 2000? AXA's one came out last year.

The least transparent thing about the projected figures is that, 3.25% and 4.75% refers to the par fund's performance.
The $$$ below are figures calculated after distributions are deducted from the initial say, 4.75% projected values.
If anyone is to calculate the net IRR of the $$$ figures, you'd realize a lower value, which is explained in the BI under "Reduction in Yield".

Thank you for giving me a chance to explain the details to you.

The projected values are quite misleading itself. The after reduction in yield is actually the more accurate picture.

 

[Perisher]

Why the God of Trolls aka akwl88 nv kenna warning de?

Ya, right. Assumptions or reality? Why not you ask him yourself how many cards have I given him so far.
While you are at it, ask how many cards have I gave lewis?

Don't bring in this kind of talk here. If you believe there is something wrong about the moderator, bring it direct to admin or feedback.

 

[Perisher]

Oh I see how it is, when I discuss intellectually you dismiss my arguments per fas et nefas. When I decide to follow awkl88's posting habit I get a warning LOL.

Ok the quality of money mind might as well be in the gutters with all the people here having the same viewpoint.

Also how is dismissing my query for an answer helping your cause to educate the masses? I had a legit question I expect people to help me with the answer.

If you want answer regarding why it's trollish, kindly go feedback.

If you want answer for $200/month. That's fair.