红利保险（Pension Insurance, Par Life Insurance）
- 主题发起人 mosonk
- 开始时间
lazycatcat
新手上路
- 注册
- 2009-08-26
- 消息
- 1,111
- 荣誉分数
- 15
- 声望点数
- 0
Need more details:
- What is the premium ?
- When benefits start ?
- What is benefits for survivers etc
- What is the premium ?
- When benefits start ?
- What is benefits for survivers etc
我没有完全记住所有的内容，但是让我动心的部分大致是这样的：
年回报确为5-9%（平均7%，就像股票的分红 divident return ），20年后停止交本金，同时你本人可以启用20年累计的现金部分（本金加回报) , 在你过世后，你的保人可开始领取保险。实际上就是在给自己积攒一部分退休金的同时给自己的亲人留些财产。
这个保险产品的准确英文名字叫 Performax Gold, 中文名称：退休养老保险，是人寿保险的一种， 为加拿大Manulife Financial 的产品。
有没有哪位已买了这个保险，或了解得多一些，非常想听听您的高见。
不好意思，也许是感觉到自己开始老了吧，我是第一次认真考虑保险类的投资，任何建议都想听听。
年回报确为5-9%（平均7%，就像股票的分红 divident return ），20年后停止交本金，同时你本人可以启用20年累计的现金部分（本金加回报) , 在你过世后，你的保人可开始领取保险。实际上就是在给自己积攒一部分退休金的同时给自己的亲人留些财产。
这个保险产品的准确英文名字叫 Performax Gold, 中文名称：退休养老保险，是人寿保险的一种， 为加拿大Manulife Financial 的产品。
有没有哪位已买了这个保险，或了解得多一些，非常想听听您的高见。
不好意思，也许是感觉到自己开始老了吧，我是第一次认真考虑保险类的投资，任何建议都想听听。
lazycatcat
新手上路
- 注册
- 2009-08-26
- 消息
- 1,111
- 荣誉分数
- 15
- 声望点数
- 0
There is no guarantee of return based on information on Manulife's website. Here is the quote (just Google the Performax Gold):
Performance Credit
Your Performax Gold policy earns a yearly Performance Credit to help increase your policy’s cash value.
The amount of the Performance Credit will vary based on the amount and type of coverage you have, as well as the performance of the Performax Gold Investment Fund. This diversified portfolio of assets is managed by Manulife investment professionals.
Performance Credit
Your Performax Gold policy earns a yearly Performance Credit to help increase your policy’s cash value.
The amount of the Performance Credit will vary based on the amount and type of coverage you have, as well as the performance of the Performax Gold Investment Fund. This diversified portfolio of assets is managed by Manulife investment professionals.
lazycatcat
新手上路
- 注册
- 2009-08-26
- 消息
- 1,111
- 荣誉分数
- 15
- 声望点数
- 0
Besides Treasury bonds, there are no products that can guarantee a return of say 5%. This is because any bonds have default risks. Canadian and US treasury bonds are the safest but they still carry a remote risk of default.
If you find an absolute guarantee, you are most likely being hooked by these advisors, who depend on investor's money to make a living.
If you find an absolute guarantee, you are most likely being hooked by these advisors, who depend on investor's money to make a living.
lazycatcat is right.
In the English description, it seems there is no guarantee for the return. But, during the presentations, the speakers from [FONT=宋体]友安金融[/FONT] consistently repeated the feature with an average 7% return, and at least 5%. I hope they are serious to their business and to their customers.
In the English description, it seems there is no guarantee for the return. But, during the presentations, the speakers from [FONT=宋体]友安金融[/FONT] consistently repeated the feature with an average 7% return, and at least 5%. I hope they are serious to their business and to their customers.
lazycatcat
新手上路
- 注册
- 2009-08-26
- 消息
- 1,111
- 荣誉分数
- 15
- 声望点数
- 0
There is a simple way to confirm the return. Ask the advisor to write down the guarantee of annual 7% return.
Just try it and see his or her reaction.
It is possible that I may have missed anything. However, it is incomprehensible that Manulife can guarantee a return of 7% in any of their financial products. Amazing so many people bought the product.
When dealing with advisors, take a simple approach:
- Pay him or her fairly with explicit percentage - like 1% or 2%.
- In return, have him or her put down why the product can make money.
Common tricks advisor uses are simple and effective:
- "Free" service (as if they don't need to work)
- Use statistics data, big names or claimed historical return to rouse the greed in people's genes.
As a Wall Street executive likes to say, always shine light on it. Here, the light is a simple written promise of that 7%.
You will see a dramatic reaction from that advisor ...........
Just try it and see his or her reaction.
It is possible that I may have missed anything. However, it is incomprehensible that Manulife can guarantee a return of 7% in any of their financial products. Amazing so many people bought the product.
When dealing with advisors, take a simple approach:
- Pay him or her fairly with explicit percentage - like 1% or 2%.
- In return, have him or her put down why the product can make money.
Common tricks advisor uses are simple and effective:
- "Free" service (as if they don't need to work)
- Use statistics data, big names or claimed historical return to rouse the greed in people's genes.
As a Wall Street executive likes to say, always shine light on it. Here, the light is a simple written promise of that 7%.
You will see a dramatic reaction from that advisor ...........
Participating life insurance is just one kind of whole/permanent life insurance (the other popular kind of permanent life insurance is called universal life insurance). In Canada, several large life insurance companies offer this type of product. They are similar in nature and you can go to their website to look at their past returns.
I know for a fact that Manulife, Canada Life, London Life all have this type of participating life insurance product offering. There probably are others.
The premium for the permanent life is higher than term life for sure. But they are two very different products so you need to consider multiple factors in addition to the annual premiums.
In a par life policy, your premium partially goes to the cost of insurance, the rest (less the administration cost) goes to an investment pool where the insurance company decides what to invest and with what asset allocation. You have no say about it. It is very expensive to cancel. But some may look at it as a "forced" saving/investing. You may hear about that you only pay 20 years of premium and that's it. Well, insurance companies are for-profit businesses and they can basically do that because you already "pre-pay" a lot up front. The income generated by the pool of money is able to cover the cost of insurance for the policy holders or else you know that insurance companies will ask you to continue to pay. That's why this "20 year" period is subject to change based on the investment performance.
In a term life insurance, the cost of premium is low. In fact, given a person with good health and reasonable age, this type of insurance is very cheap. Some may argue that the amount of premium difference could be invested by the individual and one may like that control and flexibility. If in a certain year, personal/finance gets tough, you won't have to worry about having to pay this high premium for a par life policy just to keep the policy in force (remember, cancelling the policy is an expensive undertaking as most of your paid premium is lost). The key though is that one is disciplined enough to keep investing in the market according to the asset allocation suitable for ones risk tolerance, in good and bad times.
In bad times, market can be down by 30% as we have witnessed. Getting a nice 7% dividend rate through a par life policy sounds awesome! In a good market, getting a 7% doesn't sound so hot anymore. Whether the insurance company invests for you or you invest for yourself, you know that the only reason that they can maintain less volatile dividend payout is because the asset allocation is more heavily weighted on fixed income components (government/corporate bonds, mortgages, etc.). So there is no magic in what they are doing.
With a permanent life insurance (such as participating life insurance), you can access the cash value of the policy through policy loans. So you may be able to use this type of policy in your life time. For term life, since it has no cash value, you just keep paying it until it is up for renewal or you let it expire. In both cases, of course the death benefit (minus the policy loan payments in the case of permanent life insurance) goes to the beneficiaries of the policy.
How and if a life insurance policy fits well for your personal/family financial situation is something you need to first decide on. Then read up on the pros and cons of permanent life vs term life.
If you are led to believe that life insurance policies are solutions to every financial problem/downfall, you need to think again. Insurance (life, disability, etc.) plays an important role in a person's financial planning but it is only one aspect of the financial planning, not all.
If you are led to believe that you need such a policy, you definitely want to think again. In many cases, you probably do but remember one thing: life insurance is sold, not bought. Commissions for Insurance agents on permanent life policies are high. I am not in the insurance industry so I can only tell you what I heard (which does not mean it's true): your first year premium basically all go to the agent. Then every year, the agents gets a little trailer commissions for the policies that are still in force.
Investment and Insurance are two very different things. Sometimes mixing them together makes sense (such as in a permanent life insurance policy); sometimes it doesn't.
Permanent life insurance is not a bad product because it can work well for the policy holder. You just need to know what you are paying for and what your other options are.
Disclaimer: I do not work in or work for the financial sector.
I know for a fact that Manulife, Canada Life, London Life all have this type of participating life insurance product offering. There probably are others.
The premium for the permanent life is higher than term life for sure. But they are two very different products so you need to consider multiple factors in addition to the annual premiums.
In a par life policy, your premium partially goes to the cost of insurance, the rest (less the administration cost) goes to an investment pool where the insurance company decides what to invest and with what asset allocation. You have no say about it. It is very expensive to cancel. But some may look at it as a "forced" saving/investing. You may hear about that you only pay 20 years of premium and that's it. Well, insurance companies are for-profit businesses and they can basically do that because you already "pre-pay" a lot up front. The income generated by the pool of money is able to cover the cost of insurance for the policy holders or else you know that insurance companies will ask you to continue to pay. That's why this "20 year" period is subject to change based on the investment performance.
In a term life insurance, the cost of premium is low. In fact, given a person with good health and reasonable age, this type of insurance is very cheap. Some may argue that the amount of premium difference could be invested by the individual and one may like that control and flexibility. If in a certain year, personal/finance gets tough, you won't have to worry about having to pay this high premium for a par life policy just to keep the policy in force (remember, cancelling the policy is an expensive undertaking as most of your paid premium is lost). The key though is that one is disciplined enough to keep investing in the market according to the asset allocation suitable for ones risk tolerance, in good and bad times.
In bad times, market can be down by 30% as we have witnessed. Getting a nice 7% dividend rate through a par life policy sounds awesome! In a good market, getting a 7% doesn't sound so hot anymore. Whether the insurance company invests for you or you invest for yourself, you know that the only reason that they can maintain less volatile dividend payout is because the asset allocation is more heavily weighted on fixed income components (government/corporate bonds, mortgages, etc.). So there is no magic in what they are doing.
With a permanent life insurance (such as participating life insurance), you can access the cash value of the policy through policy loans. So you may be able to use this type of policy in your life time. For term life, since it has no cash value, you just keep paying it until it is up for renewal or you let it expire. In both cases, of course the death benefit (minus the policy loan payments in the case of permanent life insurance) goes to the beneficiaries of the policy.
How and if a life insurance policy fits well for your personal/family financial situation is something you need to first decide on. Then read up on the pros and cons of permanent life vs term life.
If you are led to believe that life insurance policies are solutions to every financial problem/downfall, you need to think again. Insurance (life, disability, etc.) plays an important role in a person's financial planning but it is only one aspect of the financial planning, not all.
If you are led to believe that you need such a policy, you definitely want to think again. In many cases, you probably do but remember one thing: life insurance is sold, not bought. Commissions for Insurance agents on permanent life policies are high. I am not in the insurance industry so I can only tell you what I heard (which does not mean it's true): your first year premium basically all go to the agent. Then every year, the agents gets a little trailer commissions for the policies that are still in force.
Investment and Insurance are two very different things. Sometimes mixing them together makes sense (such as in a permanent life insurance policy); sometimes it doesn't.
Permanent life insurance is not a bad product because it can work well for the policy holder. You just need to know what you are paying for and what your other options are.
Disclaimer: I do not work in or work for the financial sector.
