Prudential and its irritating agents

[Mustank]

How much did you lose? Mine broke even around the 8~9th yr mark.

If you want more coverage, buy a proper medical insurance.

I think you can adjust the % but not totally cut off. Normally, they will send a quarterly or half yearly report. Look through the number and do adjustment accordingly.

I think lose about 7k

[Blueray]

Guys, I have a prudential Ilp at its 18 yr. lose money for sure

Also bought 2 for my kids

What are my options?

 

I can always add on more insurance by buying more insurance from saf group term insurance

For investment, I can always turn to etf

 

Can I stop my contributions by stopping the insurance portion then wait for an opportune time to sell off my units when the price gets better?

During the last 18 years, most asset classes have enjoyed good returns and if prudential could not do it during the last 18 years, any confidence that they can do it in the next 18 years? Given that in the medium term interest rates would still remain low.

 

Any way to stop the premiums and just lock in on the benefits/coverage only?

 

I do not have any investment linked policies so do not know the finer working details.

Edited May 4, 2017 by Blueray

[LPPL]

How many of you guys here receive sales calls on a continual basis from Pudential and its agents? They are damn thick skinned, thick in the skull and just god damned irritating.

 

I get as many as 3 calls PER DAY and its pissing me off real bad.

 

If any Prudential agents happen to read this, well bugger off. The world can do without you f--kers giving yourselves a fanciful title of FINANCIAL ADVISOR/CONSULTANT. What makes you think you're qualified? Just because you passed some mickey mouse papers? Stop ruining the name of finance.

 

Sorry, just wanna vent some anger here. If this isn't appropriate please take it down.

 

Register your number under pdpa and install a phone recorder app on your mobile phone to record the phone conversation. When they call your number again, shoot to pdpc with evidence and the agent will kenna jialat jialat. 

[Lala81]

I think lose about 7k

 

my honest advice, from just a normal guy who's not financial savvy. Just liquidate it and treat it like paying more for the insurance for hte last 18 years.

Or else 6-12 months down the road, u are going to ask the exact same question, sell or what.

And the stock market is currently at an ALL TIME HIGH.

[Jamesc]

If people don't want to talk to them

 

just tell them you work for the competitor.

 

Works for me.

 

[Jamesc]

my honest advice, from just a normal guy who's not financial savvy. Just liquidate it and treat it like paying more for the insurance for hte last 18 years.

Or else 6-12 months down the road, u are going to ask the exact same question, sell or what.

And the stock market is currently at an ALL TIME HIGH.

 

And the only place is down.

 

[Ysc3]

Like me la, go buy SAF term insurance and surrender all the ILPs and stuff.

 

Much more money to put into SSB

 

any insurance must buy early and when you are still healthy ...

 

take it from me ... I just bought a $250k term policy last year when I turned 46  ....$4k / year !! (sick man price)

[Kusje]

any insurance must buy early and when you are still healthy ...

 

take it from me ... I just bought a $250k term policy last year when I turned 46  ....$4k / year !! (sick man price)

 

Are you still healthy? Why so expensive? You sure it is term only? It's just $41 per month for Aviva mindef group insurance but only valid till 65.

 

https://www.aviva.com.sg/life-and-health/for-individuals/mindef/group-term-life.html

[Kusje]

I think lose about 7k

 

@mustank check out both options. 1. return to insurance coy for payout 2. sell insurance to someone else.

 

For #2, check out these 4 links. I anyhow google one hor. DYDD.

 

http://www.purviscapital.com/faq/

http://www.repsholdings.com.sg/

http://forums.hardwarezone.com.sg/money-mind-210/secondary-mkt-insurance-repsholdings-com-3016267.html

http://www.moneydigest.sg/alternative-surrendering-insurance-policy/

[Leinad8919]

Wow so many encounter ... of the 3rd kind

[Mustank]

Bros!!!! Thanks so much!!!! Gam tong!!!!

[Nzy]

My whole life cannot breakeven even after 25 years and somemore need to top up premiums at one stage.

 

Got another small ILP, need to switch funds and reduce investment to minimise losses after relooking at their simulation and actual performance.

 

All I use cash money to "invest" ones seem like loose $$$

 

Another one I use CPF to buy, I liquidated within 1 year and made some profits. But, cannot take out $$$

 

I so lucky. Lol. My mum bought one NTUC wholelife for me when I was 8. Premiums is around 1.8k a year. IIRC managed to breakeven last year. 18 years later.

[Ysc3]

Are you still healthy? Why so expensive? You sure it is term only? It's just $41 per month for Aviva mindef group insurance but only valid till 65.

 

https://www.aviva.com.sg/life-and-health/for-individuals/mindef/group-term-life.html

 

I got put behind mah ..."sick man price" ... high blood, diabetic, vomit blood before and sleep apnea.

 

only need to pay for 25 years ... but cover until 99 yrs old. (wonder if I make it that long or not ?? LOL !!)

Edited May 4, 2017 by Ysc3

[Kusje]

I got put behind mah ..."sick man price" ... high blood, diabetic, vomit blood before and sleep apnea.

 

only need to pay for 25 years ... but cover until 99 yrs old. (wonder if I make it that long or not ?? LOL !!)

 

The policy didn't have exclusions for these illnesses?

[Stratovarius]

You see.. you are savvy to how the mechanisms work.. most people.. are those that think.. buy liao .. chuck it one side.. every month just pay....wait till maturity.. can take money and go happy... but fact is.. many dont bother to read the fine print.. 

 

imo.. i feel.. that agents take such a decent portion of the $$ .. yet sadly the follow-up advice is lacking.. or maybe.. the people who buy them in the first place.. really dont bother...  and only start to kpkb when shit hits the fan..  

 

eitherway.. personally..  term insurance and self invest...  period.

Agree. Most, if not all agents will not update you if you're making a loss. Always tell me time in the market more than timing the market. Same thing with CPF investment. Best is to go through the report and make your own adjustment.

[Ysc3]

The policy didn't have exclusions for these illnesses?

 

they accept me as I am (after medical checkup) with the loading lor ... another downside is my policy covers death only ... no TPD.

[Mockngbrd]

I gave agent my number at some expo fair, told him I looking at health insurance. Till now no call :( must be I small fry

[Othello]

I gave agent my number at some expo fair, told him I looking at health insurance. Till now no call :( must be I small fry

 

Had similar experience. This female agent (not pushy) called me 2 years running so I gave her chance. Looking to buy some for my boys. Met at KFC ( paid for my own food and drinks), blah blah blah .............. Went home, waited, waited, waited ............

 

Proposal sent to me after 3-4 weeks! Com'on, take so long to email me proposal, if really her customer then jia lat lor.