Sunday, July 23, 2017

Avoid the same mistake made by this young NS man

Dear Mr Tan,
I had bought a Pruflexicash policy in March this year. I was told to listen to their talk for a 5 dollar NTUC voucher, therefore felt more obliged. The adviser talked to me about many benefits of the policy including showing me the percentage difference between investing in the bank compared to their savings plan.
I have already given 10 months worth of premiums.

After having financial difficulties recently due to NS, I realized that i had made a big mistake after going online and finding out many flaws with the plan. I realized i did not really understand the plan. and I could have used the money in a better way.

Currently, I have told the adviser i want to stop the plan but she told me I would have to surrender the money already collected. I am financial difficulty and don't know how to get the money back. If there is any advice you could give I would be very thankful.

There is no way you can get the money back. You have lost all the 10 months premium.
You can see if you will lose more by continuing the policy, or if you can get some of it back after two years.

For young people who have not fallen into this trap. it is best to avoid it. Here is a little known secret that can change your financial future.

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