<![CDATA[Advice on Savings Plans]]>

CarolW\" post_id=\"1930682\" time=\"1566442111\" user_id=\"165772:

Bryaanlea\" post_id=\"1916181\" time=\"1561682294\" user_id=\"178823:

[quote=CarolW post_id=1906774 time=1555466464 user_id=165772]Any thoughts on Aviva MySaving Plan/ Aviva MyWealth Plan?

Hello Carol. I have gotten Aviva Mysaving Plan and my relative has gotten Aviva Mywealth Plan.

What are you looking out for?

How is Aviva Mysaving Plan so far? What benefits did you like the most? Thanks for your feedback. Appreciate it![/quote]i bought ! cant see benefits yet -- mine is save 10yrs plan + rest 5 yrs to grow the $ - then 15 yrs later - at 50s , i can choose to take out lump sum or annually / monthly -
the earlier one buy, the better - i treat it as a monthly savings plan with higher interest - but i advise dun commit too high monthly payment - my intend is collect this \"extra\" $ 15 yrs later & reward /pamper myself later OR we can draw out lump sum & invest further (15 yrs later) - depends on situation - sometimes cannot plan too far .. things /lifestyle change constantly

]]>https://forum.kiasuparents.com/topic/78114/advice-on-savings-plansRSS for NodeFri, 24 Apr 2026 11:22:37 GMTTue, 27 Aug 2019 01:34:48 GMT60<![CDATA[Reply to Advice on Savings Plans on Fri, 28 Jun 2019 00:38:14 GMT]]>

CarolW\" post_id=\"1906774\" time=\"1555466464\" user_id=\"165772:

Any thoughts on Aviva MySaving Plan/ Aviva MyWealth Plan?
Hello Carol. I have gotten Aviva Mysaving Plan and my relative has gotten Aviva Mywealth Plan.

What are you looking out for?

]]>https://forum.kiasuparents.com/post/1916181https://forum.kiasuparents.com/post/1916181Fri, 28 Jun 2019 00:38:14 GMT<![CDATA[Reply to Advice on Savings Plans on Wed, 22 Aug 2018 06:07:22 GMT]]>-MyPillow

"I think this is due to the "Life coverage" paid for the risk bear by insurer- no choice
bank int rate is lower compared to insurance companies - banks and insurance more or less work hand in hand to "trick/suck" consumers $$ . not much choice one"

Hi parents!
Full disclosure here that I am a independent financial planner in a brokerage model (commission only no target model).

NTUC Income, Aviva and AIA does provide capital guaranteed savings plan.

AIA to me is thus far the best as it is earnings guaranteed on top of possibility of earning even more depending on their investment returns and lastly, only their plan has a roughly $70 per year rider to top up with a insurance where your child or even you(whoever you are starting the plan for to have a death insurance of whatever sum you set your savings plans to be from day 1!)

e.g. (because you are aiming for 50k at end of 12 years, the plan requires you to pay 200 per month, instead of death benefit of how much you have saved+1-3%, which is how all other insurers offer or to top up a premium waiver rider, AIA has both premium waiver rider + will award 50k upon death from day1 of the savings plan’s implementation)

I think end of the day we(me and people in my industry are all sales driven) but a myth about banks is that they sell professionally and actually, the fact that banks, insurance agencies don’t partner up with all insurers or investment funds managing companies already puts the bankers in a not neutral position to advice in client’s best interest as they cannot represent the whole market. Much less with insurance agents who only sell insurance plan and work exclusively with whichever insurer. (Bankers are then pressured by KPI whereas agents are excited about earning bonuses on top of little commissions upon hitting targets that keep coming)

Hope these informations helps!

]]>https://forum.kiasuparents.com/post/1869071https://forum.kiasuparents.com/post/1869071Wed, 22 Aug 2018 06:07:22 GMT<![CDATA[Reply to Advice on Savings Plans on Mon, 02 Jul 2018 02:41:08 GMT]]>

starlight1968sg:
It does not make any sense when the paid amt is > guaranteed amt upon maturity.

If we leave that amt with the bank, am sure years later, you get back a higher amt depending on the interest rates
i think this is due to the \"Life coverage\" paid for the risk bear by insurer- no choice
bank int rate is lower compared to insurance companies - banks and insurance more or less work hand in hand to \"trick/suck\" consumers $$ . not much choice one

]]>https://forum.kiasuparents.com/post/1854705https://forum.kiasuparents.com/post/1854705Mon, 02 Jul 2018 02:41:08 GMT<![CDATA[Reply to Advice on Savings Plans on Mon, 02 Jul 2018 01:25:11 GMT]]>It does not make any sense when the paid amt is > guaranteed amt upon maturity.

If we leave that amt with the bank, am sure years later, you get back a higher amt depending on the interest rates

]]>https://forum.kiasuparents.com/post/1854679https://forum.kiasuparents.com/post/1854679Mon, 02 Jul 2018 01:25:11 GMT<![CDATA[Reply to Advice on Savings Plans on Mon, 02 Jul 2018 01:22:03 GMT]]>I would like to have a deliverance plan that can springiness me better returns than our basic deliverance business relationship . My prudential factor has recommended me the Prusave . The projected quantity looks trade good but the guranteed sum is actually lesser than the precept amount wage .

Is there really no other savings plan that can at least give me a guaranteed amount that’s compeer to the rationale amount paid? I went through the rest of the savings plans under Prudential. The guranteed is always lesser than the principle amount paid.

Would appreciate some advice on your own savings plans!

]]>https://forum.kiasuparents.com/post/1854678https://forum.kiasuparents.com/post/1854678Mon, 02 Jul 2018 01:22:03 GMT<![CDATA[Reply to Advice on Savings Plans on Tue, 03 Apr 2018 12:38:37 GMT]]>We have a PruEduSave policy maturing next year Jan.

Unable to find the original BI documents to determine whether the policy is going to deliver its projected maturity value.

Just requested for a PRUaccess PIN today. Going to obtain a revised BI on the policy once I receive the PIN.

Every year we receive its Bonus Notice that specifies the guaranteed bonus n the previous n current projected maturity value.

Based on the explanatory notes, I still could not tell whether the projected maturity value includes the total guaranteed bonus.

If I assume the total value at maturity is the projected maturity value + the guaranteed bonus (both printed in the bonus notice), I get back 1.6 times the 21 years of yearly premium paid.

Consider a good deal?

]]>https://forum.kiasuparents.com/post/1841227https://forum.kiasuparents.com/post/1841227Tue, 03 Apr 2018 12:38:37 GMT<![CDATA[Reply to Advice on Savings Plans on Tue, 03 Apr 2018 04:37:11 GMT]]>Still on the issue of guaranteed returns. Anyone has any insight on ntuc income track record for meeting non guaranteed? Thanks.

]]>https://forum.kiasuparents.com/post/1841155https://forum.kiasuparents.com/post/1841155Tue, 03 Apr 2018 04:37:11 GMT<![CDATA[Reply to Advice on Savings Plans on Tue, 03 Apr 2018 03:52:35 GMT]]>If it is a PURE saving plan, then perhaps it makes not much sense to save with insurance companies. Older days policies allowed insurers to illustrate sort of whatever they wanted and so those policies are unlikely to see that kind of illustrated returns. Ever since MAS said cannot suka suka give unrealistic illustration, this issue is more addressed in newer policies (meaning much high chance of seeing insurers meeting the illustrated non-guaranteed returns).


However, if it is an endowment plan with some insurance elements (death/permanent disability/critical illness) in it, then perhaps it makes some sense. Say a parent wants to save $50,000 in 18 years time for her child’s tertiary education, then it makes sense as if by the second year or whatseover, the parent suffers some major negative claimable event, the $50,000 is fully secured for this purpose. This kind of product is good for those who have no discipline in saving and/or don’t know how to save efficiently.

So far only Tokio Marine has honoured their guaranteed and non-guaranteed returns for the past 60+ years (if I remember correctly). I have quite many policies with them coz of this track record and so will bypass most of the higher non-guaranteed returns illustrated by other ‘more common’ insurers.

]]>https://forum.kiasuparents.com/post/1841142https://forum.kiasuparents.com/post/1841142Tue, 03 Apr 2018 03:52:35 GMT<![CDATA[Reply to Advice on Savings Plans on Tue, 03 Apr 2018 03:07:04 GMT]]>

starlight1968sg:
hpmf1978:

Hi All,


I am referring to Prusave. Understand that the guarantees sum is always less than the premium that you paid based on the BI. Does anybody has a real life example of how much you actually get back after maturity? The total sum (guaranteed+non guaranteed), is it more than, less than or near to the premium you paid in total? I have 2 prusave account going to mature in 8 years and 18 years time, a bit nervous that I may get back less than what i paid. Yes, most of the people here are right, I just sign this contract without checking that the guarantee sum is less that what I paid, I just see the total sum because I trust the agent. But now....this is worrying me. Please advise.

You can ask for an estimate you can receive IF you were to surrender the plan.

so far, i have yet to see n receive the \"non-guaranteed\" interests materialised
according to some of my older relatives whose policy had ended , Of course the non-guaranteed part is pathetic . Most likely, we will be getting back what u pay + the littl interest + litt non guaranteed . No need to invest too much in insurance , DIVERSIFICATION is keyword

ps: if along the way, u have drawn out the policy $ to spend , i know the capital sum take back will be much lower too . last time, there were such plans whereby save n take out to spend on eg year 3, 5 , 10 , 15 etc . For myself, i chose to reinvest back those interest n never opt for take back little sum of money - i dunno how much my capital + returns yet - no policy of mine has matured ...waiting game ..

]]>https://forum.kiasuparents.com/post/1841135https://forum.kiasuparents.com/post/1841135Tue, 03 Apr 2018 03:07:04 GMT<![CDATA[Reply to Advice on Savings Plans on Sun, 01 Apr 2018 21:32:39 GMT]]>

hpmf1978:
Hi All,


I am referring to Prusave. Understand that the guarantees sum is always less than the premium that you paid based on the BI. Does anybody has a real life example of how much you actually get back after maturity? The total sum (guaranteed+non guaranteed), is it more than, less than or near to the premium you paid in total? I have 2 prusave account going to mature in 8 years and 18 years time, a bit nervous that I may get back less than what i paid. Yes, most of the people here are right, I just sign this contract without checking that the guarantee sum is less that what I paid, I just see the total sum because I trust the agent. But now....this is worrying me. Please advise.
You can ask for an estimate you can receive IF you were to surrender the plan.

]]>https://forum.kiasuparents.com/post/1840912https://forum.kiasuparents.com/post/1840912Sun, 01 Apr 2018 21:32:39 GMT<![CDATA[Reply to Advice on Savings Plans on Sun, 01 Apr 2018 15:25:19 GMT]]>Hi All,


I am referring to Prusave. Understand that the guarantees sum is always less than the premium that you paid based on the BI. Does anybody has a real life example of how much you actually get back after maturity? The total sum (guaranteed+non guaranteed), is it more than, less than or near to the premium you paid in total? I have 2 prusave account going to mature in 8 years and 18 years time, a bit nervous that I may get back less than what i paid. Yes, most of the people here are right, I just sign this contract without checking that the guarantee sum is less that what I paid, I just see the total sum because I trust the agent. But now…this is worrying me. Please advise.

]]>https://forum.kiasuparents.com/post/1840906https://forum.kiasuparents.com/post/1840906Sun, 01 Apr 2018 15:25:19 GMT<![CDATA[Reply to Advice on Savings Plans on Wed, 14 Mar 2018 06:18:35 GMT]]>Deleted

]]>https://forum.kiasuparents.com/post/1838052https://forum.kiasuparents.com/post/1838052Wed, 14 Mar 2018 06:18:35 GMT<![CDATA[Reply to Advice on Savings Plans on Mon, 12 Mar 2018 11:40:51 GMT]]>I have no preference on insurers; only keen to look at the guaranteed values of the savings plans offered

]]>https://forum.kiasuparents.com/post/1837739https://forum.kiasuparents.com/post/1837739Mon, 12 Mar 2018 11:40:51 GMT<![CDATA[Reply to Advice on Savings Plans on Mon, 12 Mar 2018 11:38:02 GMT]]>From personal experience I can say that Prudential is not bad.

]]>https://forum.kiasuparents.com/post/1837737https://forum.kiasuparents.com/post/1837737Mon, 12 Mar 2018 11:38:02 GMT<![CDATA[Reply to Advice on Savings Plans on Thu, 04 Jan 2018 04:26:58 GMT]]>Pay 3 years and at the 5th year, collect principal and interest at 2.08%pa guaranteed

http://www.chinalife.com.sg/chinalife/en/products/savereward101seriesIII.html

(for info, pls)

]]>https://forum.kiasuparents.com/post/1826567https://forum.kiasuparents.com/post/1826567Thu, 04 Jan 2018 04:26:58 GMT<![CDATA[Reply to Advice on Savings Plans on Sat, 30 Sep 2017 09:35:19 GMT]]>Let’s look out for the next one 🙂

]]>https://forum.kiasuparents.com/post/1804688https://forum.kiasuparents.com/post/1804688Sat, 30 Sep 2017 09:35:19 GMT<![CDATA[Reply to Advice on Savings Plans on Sat, 30 Sep 2017 09:28:09 GMT]]>

starlight1968sg:
https://www.greateasternlife.com/sg/en/personal-insurance/live-great/great205.html


For sharing info only
Sadly, it ended so quickly....

]]>https://forum.kiasuparents.com/post/1804683https://forum.kiasuparents.com/post/1804683Sat, 30 Sep 2017 09:28:09 GMT<![CDATA[Reply to Advice on Savings Plans on Fri, 15 Sep 2017 13:02:20 GMT]]>https://www.greateasternlife.com/sg/en/personal-insurance/live-great/great205.html


For sharing info only

]]>https://forum.kiasuparents.com/post/1801353https://forum.kiasuparents.com/post/1801353Fri, 15 Sep 2017 13:02:20 GMT<![CDATA[Reply to Advice on Savings Plans on Tue, 12 Sep 2017 11:47:33 GMT]]>Tks MP for sharing

]]>https://forum.kiasuparents.com/post/1800783https://forum.kiasuparents.com/post/1800783Tue, 12 Sep 2017 11:47:33 GMT<![CDATA[Reply to Advice on Savings Plans on Mon, 11 Sep 2017 14:16:00 GMT]]>

starlight1968sg:
MP

When was this 1.8%pa GE plan launched? Why did I miss the boat?
This was 3 yrs plan, savings insurance plan sold at ocbc
Think was last Dec or Jan .

]]>https://forum.kiasuparents.com/post/1800632https://forum.kiasuparents.com/post/1800632Mon, 11 Sep 2017 14:16:00 GMT<![CDATA[Reply to Advice on Savings Plans on Mon, 11 Sep 2017 13:51:14 GMT]]>MP

When was this 1.8%pa GE plan launched? Why did I miss the boat?

]]>https://forum.kiasuparents.com/post/1800618https://forum.kiasuparents.com/post/1800618Mon, 11 Sep 2017 13:51:14 GMT<![CDATA[Reply to Advice on Savings Plans on Sat, 09 Sep 2017 12:56:45 GMT]]>

starlight1968sg:
MP

Most if not all plans offered by insurers have investment components. The difference is the amount involved
SL, Yes I know thks 🙂
Thus I only go for reputable insurers to buy investment policy
Actually I bought this similar Ge product fr ocbc , 3 yrs too but was 1.8 then - justmy luck

]]>https://forum.kiasuparents.com/post/1800244https://forum.kiasuparents.com/post/1800244Sat, 09 Sep 2017 12:56:45 GMT<![CDATA[Reply to Advice on Savings Plans on Sat, 09 Sep 2017 12:39:46 GMT]]>

starlight1968sg:
Emoh

Am not comfortable in buying online and so giving that FWD a miss
Thanks for the reply. Do let us know when you have more details of the GE plan.

]]>https://forum.kiasuparents.com/post/1800238https://forum.kiasuparents.com/post/1800238Sat, 09 Sep 2017 12:39:46 GMT