pruflexicash vs pruwealth

[Shion]

Then how about pruwealth? I was thinking of putting another portion of my savings like 200 into pruwealth. All I heard from the agents was how good this is but I'm sure there are negatives to it and anyone here can enlighten me more on this?

This is a bad idea in my opinion. You already have 1 endowment, and you want to take up another ?

Well, my opinions are skewed when it comes to Prudential, so I better not say too much.

Let the others do the commenting...

 

[Asphodeli]

This is a bad idea in my opinion. You already have 1 endowment, and you want to take up another ?

Well, my opinions are skewed when it comes to Prudential, so I better not say too much.

Let the others do the commenting...

Personally, I think that endowment plans which cost > $1000 p.a. can forget about it

Assuming you start work at 25, when you retire at 65, you should have accumulated roughly $40k (should be more, but I'm taking worse-case scenarion of 0%) worth of apparently inflation-protected savings from the endowment. With that 40k, presumably, one can use that to offset medical, housing, kids' wedding (bad move, let the young ones slog it out, IMHO), etc.

Voila! Can I take CMFAS M5 liao ma?

 

[Perisher]

Learning to invest in ETF is simpler than endowment.

 

[Lewis.T]

Then how about pruwealth? I was thinking of putting another portion of my savings like 200 into pruwealth. All I heard from the agents was how good this is but I'm sure there are negatives to it and anyone here can enlighten me more on this?

It's a long term endowment that is capital guaranteed at year 20, and is projected to give you around 3.8% as compound interest if Prudential continues to earn as it has on its funds.

The long term is the drawback, it is not liquid until year 20 and if you withdraw before year 20 it will affect the growth significantly. If you surrender early you'll also get back less than what you put in.

For your flexicash, you can ask your agent the current surrender value or call the Pru hotline found on the Pru website. Don't get your hopes up though, it might be $0 if it's within the first few years.

 

[chirppy]

Learning to invest in ETF is simpler than endowment.

The thing is ETF investing needs time to monitor isn't it? I hardly had any times to monitor due to hectic work commitments. If circumstances allowed,, I would of course invest myself than depends on prudential etc. I rather lose money due to my shortsighted in investment than lose money due to 3rd party.

 

[Perisher]

The thing is ETF investing needs time to monitor isn't it? I hardly had any times to monitor due to hectic work commitments. If circumstances allowed,, I would of course invest myself than depends on prudential etc. I rather lose money due to my shortsighted in investment than lose money due to 3rd party.

Nope. No monitoring, see, people kept having this misconception that investing needs deep knowledge, time, $$ etc...
No, DCA ETF investing requires no research, no monitoring, not much $$ and is easy to do.

It's so simple, it's simpler than any insurance plan.

 

[crystallic]

Let me know if u want me take over ur pru flexi cash



QUOTE=chirppy;98294501]Hi All

i'm currently into pruflexicash for near to 1.5yrs. Monthly premium is 300. Came to know pruwealth and feel that pruwealth is better. Can someone advise me if i should surrender pruflexicash?[/QUOTE]

 

[Perisher]

Let me know if u want me take over ur pru flexi cash

Anybody wanna let go their endowment plan. I will pay surrender value plus 50 dollars

edited by mod:Unsolicited Content (Commercial solicitation / Ads / Referrals / Spam)

Good thinking.
Others pay the premium, you take over the product at a big discount by paying only the surrender value +$50.

Sort of a win-win if the other party really wanna cancel the product.

The longer the years of premium they paid, the more worth it for you.

Anyway, need you to stop soliciting for pm or advertising here.

 

[Luffyace]

Hi All

i'm currently into pruflexicash for near to 1.5yrs. Monthly premium is 300. Came to know pruwealth and feel that pruwealth is better. Can someone advise me if i should surrender pruflexicash?

any advisor here ?

 

[mSnooze]

any advisor here ?

Comparing PruFlex and PruWealth, PruWealth is better.

 

[SBC]

My Pruflexicash is on the 6th year. 9 more years to go.

 

[Shion]

My Pruflexicash is on the 6th year. 9 more years to go.

What is your current surrender value and how much have you paid so far ?

 

[SG_Alibaba]

Which saving plan is better ?

 

[Shion]

Which saving plan is better ?

None of them

 

[yohjun]

any advisor here ?

Think most advisors will not want to comment due to the sentiment given out here. Prevent some unwanted attention. I may be wrong.

 

[chopra]

equally bad

 

[SG_Alibaba]

None of them

Why bro ? What's the reasons ?

 

[tortoise18]

Cancelled pruwealth after finding out surrender value less before 20yrs. On paper that is. But agent insist can get full amount aftet 15 yrs.

 

[SBC]

Cancelled pruwealth after finding out surrender value less before 20yrs. On paper that is. But agent insist can get full amount aftet 15 yrs.

PruWealth is an ILP? You have not broken even after almost 20 years on the plan?

 

[akwl88]

Cancelled pruwealth after finding out surrender value less before 20yrs. On paper that is. But agent insist can get full amount aftet 15 yrs.

agent got sign contract with you, stating that can get full amt after 15 years?