Ming Ann - Seedly
Ming Ann

Ming Ann

Financial Consultant at Prudential

9Upvotes

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Financial Consultant at Prudential

Ming Ann

Financial Consultant at Prudential

9Upvotes
  • Answers (4)
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Insurance

Ming Ann
Ming Ann
Level 3. Wonderkid
Answered 2w ago
Hello, You will be getting a voucher for medical screening next year and you can go to the list of appointed clinics/hospital to do your checkup. Depending on which plan of PruLady that you purchased (A/B/C/D), then you will be doing a specific list of tests. There is no top-up option available for doing any additional test. The health screening generally covers your basic test (blood, vision, urine, breast self-examination, pap smear) and also some screening test for your organs and then you will get your medical report and doctor consultation. If your plan under Prulady is Plan C or D, then you will have an additional 2 test under the package which is breast mammogram and pelvic ultrasound. Hope it answers your question =) If you need any help do let me know, I will do my best to answer your questions as I am a consultant under Prudential

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Ming Ann
Ming Ann
Level 3. Wonderkid
Updated on 14 Aug 2019
The first step would to be find out why did she bought it in the first place (i.e the objective). Then ask will this plan help in terms of your financial goal ? Pruwealth generally are giving more benefits in the later stage of life because of the compounded interest from the bonuses. One factor to consider is that also the age she is currently. For example, if she is at her 20-30s that range, you will notice that PW gives considerable returns at older age more towards retirement. Investing in stock of course will generate more returns generally, but of course the risk is also a factor to take note about. SSB is very hard to compare in terms of apple to apple because SSB only last for 10 years max while PW doesn't work that way. My suggestion is that, if you are not surrendering this plan mainly due to budget constraints, can do both ways, whichever works better after a period of observation then you can switch accordingly. I think that PW is a good tool when you factor in your retirement planning because you get to choose your own maturity date Ultimately, if the product suits your financial goals, then it might be worthwhile to continue.

Investments

Insurance

Ming Ann
Ming Ann
Level 3. Wonderkid
Updated on 07 Jun 2019
Working backwards based on the post, your mum already have paid the policy for 19 years and you have to continue for the next 31 years, probably a 50 years endowment plan. If you wish to surrender the plan, do take a look at the contract if there is any early surrender charge. Also, assuming the scenario that you do terminate the plan and get back a portion of your premium + $810, what would you do with the extra money ? Apart from investing into SSB/STI ETF. Probably you should take a look at the declared bonus yearly (if applicable) and see if this endowment plan are able to give the projected return. If the returns are decent and are higher than SSB, continuing this plan is a good move actually

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Ming Ann
Ming Ann
Level 3. Wonderkid
Answered on 03 Oct 2018
Do take note of the time horizon that you are planning to save as well (how many years and how much did you want to save ??)
Level 3. Wonderkid
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