Ivan_06 5th Gear December 18, 2011 Share December 18, 2011 As per above, i am setting aside a lump sum of money for NTUC SAIL Plan (Single Premium) Any IFAs / Bankers / Agents who can provide vouchers in return? http://tankinlian.blogspot.com/2010/04/why...investment.html I am intending to set aside 70k in cash... Previously bought some 40k, the agent's commission was around 1.4k... ↡ Advertisement Link to post Share on other sites More sharing options...
Sabbie Clutched December 18, 2011 Share December 18, 2011 lol, don't worry, alot of agents will be PMing you soon, learn from experience Link to post Share on other sites More sharing options...
Ivan_06 5th Gear December 18, 2011 Author Share December 18, 2011 or in kind, cash would be good... Using the calculation of comission for Single Premium payment of 3.38%, a 70k single premium payment would enable one to earn $2366 in commission (one-shot). Any agents willing to pay ard half of their commissions with me? Its a simple, clear cut case... If you are interested, please pm me with details.. Link to post Share on other sites More sharing options...
Sabbie Clutched December 18, 2011 Share December 18, 2011 or in kind, cash would be good... Using the calculation of comission for Single Premium payment of 3.38%, a 70k single premium payment would enable one to earn $2366 in commission (one-shot). Any agents willing to pay ard half of their commissions with me? Its a simple, clear cut case... If you are interested, please pm me with details.. Are you sure? If I not wrong, nowdays for SP plans, commission around 2% only. Link to post Share on other sites More sharing options...
Ivan_06 5th Gear December 18, 2011 Author Share December 18, 2011 lol, don't worry, alot of agents will be PMing you soon, learn from experience ya, that's why i am stating it down.... For 70k (Single Premium), agents get around $2.4k... I am hoping some would give me half of their commission... $1.2k, understand agents can't give cash... so vouchers like Captiamall vouchers and etc will be good.. heehee... upz.. Link to post Share on other sites More sharing options...
Ivan_06 5th Gear December 18, 2011 Author Share December 18, 2011 Are you sure? If I not wrong, nowdays for SP plans, commission around 2% only. I was looking at my previous 40k SP (SAIL - New product), the total distribution cost is 3.38% I have another 20k SP (Growth Plan), the total distribution cost is 2.54%. Assuming, commission is 2% for old plans, i assume adminstrative and etc fees take up about 0.54%. Using this formula, for SAIL (SP), commission should be 3.38 - 0.54 = 2.84%.... Hence, agent still earn 0.0284 x 70k = $1988... I am looking at the agent giving me half of his/her commission back to me.. of course, undertable method lah... ** Note ** I am only interested in NTUC SAIL Plan, please do not come and tell me about Investment Linked Policies.. haha.. Link to post Share on other sites More sharing options...
Sabbie Clutched December 18, 2011 Share December 18, 2011 ya, that's why i am stating it down.... For 70k (Single Premium), agents get around $2.4k... I am hoping some would give me half of their commission... $1.2k, understand agents can't give cash... so vouchers like Captiamall vouchers and etc will be good.. heehee... upz.. err I guess if you know what you want already and each one take half is reasonable....but I think it's flouting mas guidelines on fair dealing.... Link to post Share on other sites More sharing options...
Sabbie Clutched December 18, 2011 Share December 18, 2011 I was looking at my previous 40k SP (SAIL - New product), the total distribution cost is 3.38% I have another 20k SP (Growth Plan), the total distribution cost is 2.54%. Assuming, commission is 2% for old plans, i assume adminstrative and etc fees take up about 0.54%. Using this formula, for SAIL (SP), commission should be 3.38 - 0.54 = 2.84%.... Hence, agent still earn 0.0284 x 70k = $1988... I am looking at the agent giving me half of his/her commission back to me.. of course, undertable method lah... ** Note ** I am only interested in NTUC SAIL Plan, please do not come and tell me about Investment Linked Policies.. haha.. Thanks for enlightening, I suppose the Sail Plan is longer term plan, typically 3 to 5 years, distribution costs is 2%, 10 years maybe higher.... Link to post Share on other sites More sharing options...
Ivan_06 5th Gear December 18, 2011 Author Share December 18, 2011 err I guess if you know what you want already and each one take half is reasonable....but I think it's flouting mas guidelines on fair dealing.... yeah, but then i dun need financial advise or time wasting with agent.. we just meet up, fill in some silly forms... pay the premium to NTUC, with receipts issued to me (of course).. and i want to see the vouchers in return. Link to post Share on other sites More sharing options...
Ivan_06 5th Gear December 18, 2011 Author Share December 18, 2011 Thanks for enlightening, I suppose the Sail Plan is longer term plan, typically 3 to 5 years, distribution costs is 2%, 10 years maybe higher.... SAIL Plan can be up to 20 years... Growth Plan can be up to 10 yrs.... assuming both using cash mode of payment... **lai lai, any agents willing to spilt their commission with me** Easy 1k for the agent and me each... Link to post Share on other sites More sharing options...
Ivan_06 5th Gear December 18, 2011 Author Share December 18, 2011 err I guess if you know what you want already and each one take half is reasonable....but I think it's flouting mas guidelines on fair dealing.... i remember seeing some local websites with agents promoting for themselves this way, but i can't seem to find them now... Link to post Share on other sites More sharing options...
Chucky2007 Turbocharged December 18, 2011 Share December 18, 2011 Haha You sure know how to calculate.. Link to post Share on other sites More sharing options...
Sabbie Clutched December 18, 2011 Share December 18, 2011 yeah, but then i dun need financial advise or time wasting with agent.. we just meet up, fill in some silly forms... pay the premium to NTUC, with receipts issued to me (of course).. and i want to see the vouchers in return. Yup, same with me, this GE agent keep calling me, I told her when I want then I will put 3 month later, no need to waste time presenting to me, think she don't believe, but she called me back 3 months later anyway, met up, told her exactly what I want, sign on BI and gave her cheque straight away, I think she very happy, fastest closure in her life!...hahaha Link to post Share on other sites More sharing options...
Sabbie Clutched December 18, 2011 Share December 18, 2011 i remember seeing some local websites with agents promoting for themselves this way, but i can't seem to find them now... but I don't think it's a good idea to post here publicly la, nowadays mas censure quite siong... Link to post Share on other sites More sharing options...
Booboon 1st Gear December 18, 2011 Share December 18, 2011 nowadays, agent not very hungry leh. have the same request as ts yet no one bother leh. Link to post Share on other sites More sharing options...
Sabbie Clutched December 18, 2011 Share December 18, 2011 not worth to lose your license doing unethical things mah, besides ntuc's system different from the rest, I am glad not many agents doing such things Link to post Share on other sites More sharing options...
Ivan_06 5th Gear December 18, 2011 Author Share December 18, 2011 nowadays, agent not very hungry leh. have the same request as ts yet no one bother leh. Yale... surprisingly, not even 1 pm... I think agents are scared that this might be a scam.... zzz... free money also dun want to earn. Link to post Share on other sites More sharing options...
Shinigaimi Neutral Newbie December 19, 2011 Share December 19, 2011 It is not about free money don't want to earn. It is about integrity. You are literally throwing money on the ground & ask the agent to pick up. It is an insult. Whichever agent do it, really have no backbone. Of course, if you were to change your story saying how you will not survive without these vouches, I believe a lot of agents will help you. If they are to throw the vouches on the ground, I am also not sure whether will you want to pick it up. Anyway, if you want to get these vouchers, have to do some homework. They have alot of roadshows going around. Just need to call in & ask. ↡ Advertisement Link to post Share on other sites More sharing options...
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