I have just given up on my V investment plan which lasted for 2 years. The investment return is poor (i.e. I lost over 30% of capital and the EURO adventurous fund performed very poorly) and the surrender penalty is very heavy.
What I really dislike about this plan is the lack of transparency and inflexibility, and particularly the lack of control of your funds. There are these expensive management fees and numerous charges. It is an expensive plan (i.e. at least $1,200 per month on a premium of $2,500 per month).
It would be better if you invest in an exchanged traded or index funds for long term investment. ETFs work like a stock and can be traded with minimal management fees unlike unit trusts or managed funds. You can dollar average your payment (when the stock price is low). The advantage is that you can buy and sell the fund (depending on the market) as YOU ARE in control. Right now equities are very low particularly for some blue chips shares. Do some research, be your own fund manager.
Just cut your losses and get rid of the plan. Remember you have to pay 10 years of this plan (otherwise you may incur penalty etc)! Your returns may be very unpredictable. 10 years of bondage to a fund which may not.
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12/14 - 12/21
- Mis-selling of ILPs in the UK
- Letter of confidentiality
- California Governor order 2 day Unpaid Leave
- Cost of banks
- Survey by FISCA - Financial Services Consumer Asso...
- No claim discount on motor insurance
- Financial product has high penalty
- High charges in this investment-linked plan
- ProTrader - learn trading in a simulated environme...
- Survey - visitors to my blog
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- Volunteers to help get 100,000 signatures
- Regular visitors to Tan Kin Lian's Blog
- US Lawyers Visiting Hong Kong
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- Bank RM has courage and integrity
- Offer of compensation
- SCMP:Lehman claims' bill HK$257m
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- Fair charges on life insurance policy
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- Distributor can recover the compensation from the ...
- AsiaOne: Slip sliding into depression
- A crooked product or a crooked system?
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