This is a mistake that I have made and I will just like to share it here so that no one will follow my footstep and experience the same problems I’m currently facing.
Being stuck with the PruFlexiCash plan.
With no experience with Insurance, i decided to purchase it from Jason as he really seem like a honest chap and had not given up even though I persistently refused to purchase. So I decided to give him 10 minutes of my time and purchased a saving plan. I was told that I will recieve guaranteed cash back from my account which doesn’t seem to be true after I consulted my friends. Seems like it’s only projected return and usually people make a loss when they purchased such plans.
Young and ignorant. With little knowledge, I decided to start a saving plan years back. I didn’t recieve a clear brief of what the insurance package enticed and went on to signed foolishly -thinking that I will certainly recieve a cash back in few years to come. It was really disappointing as this is the first time im entrusting a fund into a company and I could only blame on my negligence for choosing the wrong company – Prudential.
Few months after I signed he decided to leave the company without informing.
So my account was thrown to another agent and I only got to know when I received a Christmas card. So I consulted him and he told me he’s just merely leaving the company awhile before he comes back and could take over my account back to handle it personally.
Recently (4 years later), I decided to check on my plans and only came to realized that I have to hold on the plan until 2038 and it’s only a “projected return” that I’m gonna risk if I want to continue to risk.
Dropped him a text again and he just blue-ticked me. Personally, I felt that it was unprofessional as he was the one I first dealt with despite the fact that he have left the company. The current agent has never called me but does send me greetings yearly and I’m abit hesitant to contact her as I have not known her before.
So next time, make sure your consultant is staying on with you else don’t sign.
Just called the helpline and they told me they could not disclosed to me when is the best time to drop the plan. Seriously? Is that how you make people stick with you for life?
I guess all I require was the agent to do a follow up yearly. Perhaps meet over a coffee. You never know if your existing customers could potentially give you more deals. I do receive yearly statement but I just wanted to understand how they could help advise me on ways I could manage my finance better.