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Anonymous

17 Jun 2021

∙

Got tricked into purchasing PruFlexiCash "saving plan". It has only been 3 months & would like to terminate. Yearly payment is $10k... What should I do? How much will I lose?

Signed up for Bonu$aver plan, but was tricked by the staff to also sign for PruFlexiCash "saving plan" to get the additional interest. Realized it 3 months later that I'm losing more money then saving.
Planning to buy house soon, and I don't want to lose more money in it.
Would like to cancel it, but not sure how much will I get back (can get back everything?) Or unfortunately how much will I lose. Need report to MAS?

Prudential PRUflexicash Endowment Plan

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PolicyWoke

17 Jun 2021

Turbo-charge Your Savings with REPs at PolicyWoke

Hi Anonymous,

If you believe you have been mis-sold a savings plan by a bank staff, do not hesitate and report the matter to the bank and MAS immediately.

https://eservices.mas.gov.sg/consumerfeedback/

Based on our past data in receiving policy illustrations for PruFlexiCash, if your PruFlexiCash was incepted 3 months ago, the surrender value is likely to be $0, which means you may lose the whole of your first annual premium should you surrender it on this day.

Disclaimer: PolicyWoke is a resale savings plans broker

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Related Products

Prudential PRUflexicash Endowment Plan

3.0

2 Reviews

15, 20 or 25 years

POLICY TERM

Regular

PREMIUM TERM TYPES

Death, Critical Illness, TPD

COVERAGE

5% p.a. of insured amount

MIN. GUARANTEED REGULAR PAYOUTS

100% of insured amount

LUMP SUM MATURITY BENEFIT

Related Posts

I am paying 20k annually for an endowment plans. I would like to cut as the premium is too high. Is it advisable to terminate one of the policies that I already paid first year of 3k with payment year of 15 years?

Hi, would like to check i would like to cancel my ILP, how much would i lose out? Currently hitting my 1 year & i have paid $7200 for my premium.

Im a 21 years old with a 1.5 years old kid. taking full time degree as of now. I have a total Savings of 180k as of now. I sell stuff online ..getting revenue of 10k a month. Bto coming in 2023. Any good investment or saving plan I can consider?

In General, Is it safe to do a monthly $500 DCA to 3 different accounts for 12 years then after that just focus on personal saving monthly and CPF life as a form of retirment planning?

How much does an average 25 year old save per month, and how much of his salary would this amount to be?

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