Good Afternoon,I admit that i heard of the company named Manulife, the Manulife Holdings Berhad is a member of Canada-based Manulife Financial Corporation, a leading Canadian-based financial services group.
Before I begin, my name is Nigel-Ian, and I am an Insurance Agent representing Manulife Insurance Berhad.
Relating to your post in 'FD rates in Malaysia', I was wondering if you would like to go into Insurance Saving Plan, because I see that you have lots of knowledge to what is going on, hence I thought if this might gain your interest...
The Saving Plan that Manulife is offering requires you to save a minimum of RM5000 per annum, which can be saved annually, half yearly, quarterly or monthly, for only 5 years. The policy will run for the next 20 years.
For example, if you were to save RM5,200 a year for 5 years. It will sum up to RM26,000. At the end of the 20th year (maturity), you would have RM54,700. This is double of the amount saved.
This is just for your opinion and judgement if you do consider. However, sad to say, the company will be calling back this product by the end of the month.
Please do give me some feedback if possible as well?
However, if you do need more advice or questions, feel free to PM me, or even SMS me at +6 012 232 7428. No obligations whatsoever of course. Its just for your knowledge of whats in the market.
Upon the power of GOOGLE, i realise that
Subsidiaries companies under Manulife Holdings Berhad are Manulife Insurance Berhad, Manulife Unit Trusts Berhad and Manulife Asset Management (Malaysia) Sdn. Bhd.
Manulife Holdings Berhad is listed on the Bursa Malaysia. Assets under management as at 31st December 2009 were over RM3.0 billion.But as a student, i don't think i have RM5k for me to do with this saving plans. Unless i am gonna to dig every penny out from my JPA scholarships account which i believe i am not gonna to do that just for the saving plans at present.
So i ask this person:
I usually don't aim for long terms saving plans, furthermore the time frame is too long for me.
While on the personal notes, i don't really get what are the differences between FD and saving plans? Could you roughly states the differences?
Thanks for the info btw. Hope you could refurnish me wih more information which i have requested.
His reply was:
FD, in my opinion, returns are less compared to savings plan. A saving plan may require u to lock your money longer than FD. In return, the returns u recieve will be more.
Secondly, savings plan comes with some protection. Although minimal, but it still is there.
Thirdly, it's like a forced savings. This is because, when u do look for money to buy something u like. For example, a car or a house, or even something small like a computer. Where is the 1st place you will look? The bank and FD.
So it comes down to, what is the purpose of the savings. If it's for your later years and to assure that you have enough 15 or 20 years down the line, then a savings plan is ideal.If It's merely to park your money aside to spend, then you are looking at FD.
So, the conclusion is I got to take time to consider that. it is a long term plan.
For a newbie like me, i believe there is lots more for me to be learnt up.
So i am here to learn to understand more on the finance, invesments and saving plans or whatever insurans.
This is the time for me to pick up the knowledge slowly.=)
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