Pruflexicash maturity

[NiHaoma123]

I understand that the assured sum is lower than the projected sum upon maturity.

However, anyone here didn't manage to at least breakeven while using this plan? Those whose plan had matured, how much did you profited?

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[tangent314]

I understand that the assured sum is lower than the projected sum upon maturity.

However, anyone here didn't manage to at least breakeven while using this plan? Those whose plan had matured, how much did you profited?

If you are comparing against the older BIs that estimated non-guaranteed amounts estimated based on PAR fund performance way above the current regulated 4.75%, then you will likely get less than the older projected sums.


If the BI's NG estimates are based on 4.75%, then likely you will get your projected sum or slightly less, since the Pru PAR fund has been around there.

 

[NiHaoma123]

If you are comparing against the older BIs that estimated non-guaranteed amounts estimated based on PAR fund performance way above the current regulated 4.75%, then you will likely get less than the older projected sums.


If the BI's NG estimates are based on 4.75%, then likely you will get your projected sum or slightly less, since the Pru PAR fund has been around there.

Will I at least breakeven? What are the chances that I can't even get back my original capital?

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[tangent314]

You will breakeven eventually, but it may take a few years.
If you post your BI, we can tell you more

 

[JuniorLion]

Pruflexicash is NOT savings plan. A significant portion of it is for protection. You will breakeven quite late.

 

[NiHaoma123]

You will breakeven eventually, but it may take a few years.
If you post your BI, we can tell you more

What's bi?

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[NiHaoma123]

Pruflexicash is NOT savings plan. A significant portion of it is for protection. You will breakeven quite late.

So I will definitely breakeven upon maturity?

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[SBC]

What's bi?

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Bonus Illustration.

 

[Shion]

There is no way to breakeven with PruFlexiCash I thought, only until upon maturity

 

[Shion]

All are "loss making" until maturity

 

[NiHaoma123]

All are "loss making" until maturity

But I'll breakeven at least after maturity?

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[NiHaoma123]

You will breakeven eventually, but it may take a few years.
If you post your BI, we can tell you more

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[Shion]

But I'll breakeven at least after maturity?

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I am not sure, but I dont think the eventual amount will be promising

 

[computers70]

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It has to break even, unless you load in with all the riders available.
With the riders, it could be hard to break even.

 

[soneat]

I am not sure, but I dont think the eventual amount will be promising

Agree.

Even for a vanilla policy (with no payable riders), the guaranteed surrender value at maturity is less than the basic premium paid. As such, there is no guarantee it will break-even at maturity.

This type of anticipated endowment neither protects (low protection value) nor help to accumulate (At best, only appx 30% more after 25 years)

 

[akwl88]

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guaranteed amt so much lesser than total premiums paid

 

[tangent314]

This policy pretty much gives you 2.46% interest over the 15 years assuming their PAR fund grows at 4.75%, so it's not very good.

However, you are already on the 9th year of the policy, your effective interest rate between the 9th and 15th year will be 6.55%

So you should keep the policy.

This is how endowment plans work, the rates aren't all that good, and they frontload most of the distribution costs and backload the maturity bonus. By the time you realize you had a bad plan to start with, you're at the point where it's better to continue than to surrender the plan.

 

[NiHaoma123]

This policy pretty much gives you 2.46% interest over the 15 years assuming their PAR fund grows at 4.75%, so it's not very good.

However, you are already on the 9th year of the policy, your effective interest rate between the 9th and 15th year will be 6.55%

So you should keep the policy.

This is how endowment plans work, the rates aren't all that good, and they frontload most of the distribution costs and backload the maturity bonus. By the time you realize you had a bad plan to start with, you're at the point where it's better to continue than to surrender the plan.

Alright thanks all for the advice!

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[LittleStone]

Help.. I bought this pruflexicash premium 5months ago for 15 years plan but I have started to regret it. if i surrender i would have lost 3750 (100% premium paid), any advise please?
Total premium by 15th year would be 133k, guaranteed amount 102k, NGA (3.25%) 45k, NGA(4.75%) 60k

 

[Kyzers0ze]

Help.. I bought this pruflexicash premium 5months ago for 15 years plan but I have started to regret it. if i surrender i would have lost 3750 (100% premium paid), any advise please?
Total premium by 15th year would be 133k, guaranteed amount 102k, NGA (3.25%) 45k, NGA(4.75%) 60k

You can sell away your endowment plan it may provide you with better value than selling it to the insurance companies.

Just google for "Sell endowment plan"