Help regarding PruFlexiCash

**kenshez** · 27-08-2008, 06:47 PM

I went to the bank with intention of opening a Isavvy account , but i was talked into signing up the pruflexicash insurance. all was sweet talk and i was taken in, only emphasis on the advantages of taking up this insurance but not the bad ones untill i read about it. And i signed the 25months one, is there any way to cancel it without paying a cent? or is there the 14 days return policy? Thanks alot

Kaze.YonGMinG · 27-08-2008, 08:12 PM

i believe you DID NOT sign a 25 month plan but a 25 years plan
yes.
you can write in to cancel it from inception once u recieve the policy and prudential will do a full refund that will be mailed to your work place.

which bank did you go to? lols.

prudential adviser here anyways.. pm me if u need help.

**monkeybusiness** · 27-08-2008, 08:33 PM

may i ask the reason why you do not like the policy after signing up?

**inle** · 28-08-2008, 01:25 AM

another issue here....
i hope i wont b needed to file some stuff to some banks or to get some money back to some clients again ya....

but if u need help to access to these retorts, do let me noe....

time will b crucial here....

**kenshez** · 28-08-2008, 03:18 AM

oh sorry, its the 25 years one. I feel that its too long already and considering if i surrender early, i will lose out alot. All the banker told me was all about the rewards but not about the surrender policy untill i read it myself.

**kenshez** · 28-08-2008, 03:23 AM

Yongming and Inle, may i know how do i write in to get back my amount? Its only the second day considering that its past 12 now. And also i had my thumbprints on all the documents already. It is too late? Thanks alot

Kaze.YonGMinG · 28-08-2008, 06:49 AM

naw.... no worries. sms me when u recieve the policy.
there is a 14 days free look period where you can cancel from inception without any cost incurred.

easily settled.

its a good plan thou. but of coz it has to fit into your needs before u see value in it... 25 years say long oso not exactly. considering u're only 18. its a discipline saving that might help pay off your child's education 25 years down the road.

when u get married u are only probably left with 20 years to save for ur kids. so... it really depends on whether u see the needs.

i'll pm u my hp number just in case u need help.

or if u havent pay the premium just forget abt it. dun need the banker liao.
easy.

it's called trial close. no premium collected means case not closed/submitted.

**inle** · 30-08-2008, 12:47 AM

Quote:

Originally Posted by kenshez

Yongming and Inle, may i know how do i write in to get back my amount? Its only the second day considering that its past 12 now. And also i had my thumbprints on all the documents already. It is too late? Thanks alot

if u need help, pm me ya...

see how we can help here...
it shld b easy enough..

u actually can go directly to the bank to clear tis n do the withdrawal without much hassle...
jux said tat u haf being misrepresented n u got the wrong product recommendation n it does not fit into ur short, mid n long term financial goals n objectives....

i dun think u need to write anything...
jux demand withdrawal after u haf given them ur rationale of withdrawal from the bank staff.....

n if u haf not get the confirmed doc yet, u can always withdraw...
even u got the doc liao, u still haf 14 days to withdraw...
even if u pass ur 14th days, u still can demand withdrawal n get all ur paid monies back...
but tat will need some extra stuff to play wz the bank...

Kaze.YonGMinG · 30-08-2008, 08:00 AM

just a memo and signature is good enough usually.

**kenshez** · 30-08-2008, 01:18 PM

ohh okay, thanks alot! Inle & and Yongming. I guess i wait till i recieve the policy first, dont want to go back to the same bank and get pressurized into taking up another policy.

**hyung2x** · 29-09-2008, 09:08 PM

Hi, I sorry to 'tompang' here. just don't want to start a new thread. I signed up for this plan too and have received the copy of the certificate (but hvnt receive the policy booklet yet). And now, if I want to withdraw from this policy, how is the proper procedure? and will there be any cost incurred?

Kaze.YonGMinG · 30-09-2008, 12:05 AM

you can write in and send the policy back to prudential customer service saying you want to cancel from inception.

14 days period only.

write a memo and send it in with your policy

**hyung2x** · 30-09-2008, 12:35 PM

hmm... write in only after i receive the policy? or before?

anyway, how long will it takes to process?

**lhykvn** · 07-11-2009, 08:40 AM

Hello.. Sorry to dig up an old thread, but i just got into the same situation as the op. I already signed the papers and paid the 1st month on the spot, but haven't received the policy yet. I called my insurance agent to cancel the policy, but she told me to wait until after i receive the policy to cancel, which i find kinda weird..
I know that there's a 14 day period, but does it start when i sign or receive the policy?? If that's the case,then if I want to cancel, have to wait until i receive the policy?

**ForJoyLove** · 07-11-2009, 08:55 AM

yes, im on a similiar insurance, i must say its very savy and a good saving plan however the onus is on you to be disciplined and watch your spending. remember money coming in > money coming out you will be safe.

**excloc** · 08-11-2009, 03:58 AM

Hi Guys

I just want to sum things up. If you are "enticed, coaxed, misled,etc" into taking up an insurance policy at the bank and felt that you have been misled by the banker.

you can
1. call the bank and say you want to cancel the policy if you have not paid the initial premium.
2. If you have paid the initial premium, go to the bank and inform them that you do not want to take up the policy anymore within 14 days of receiving document or asap. Draft a letter that you do not wish to take up the mentioned policy you signed on which date and the banker who sold you. make two copy and let the bank stamp acknowledged on the 2nd copy. (protect yourself)
3. If you have received the policy document and it is after 14 days, you can go back to the bank and demand a refund because the banker missold to you. Eventually the branch manager will be the one talking to you. they will need some time to investigate.

4. If after investigation, they still refused to refund. You can threaten to go to fidrec. non-savy people will say they will go to the press. people who know will say they go to fidrec.You can lodge a case with fidrec. Usually most bank will want to cease the matter here if it is a small sum.

**zhiz22** · 09-11-2009, 10:18 PM

Quote:

Originally Posted by lhykvn

Hello.. Sorry to dig up an old thread, but i just got into the same situation as the op. I already signed the papers and paid the 1st month on the spot, but haven't received the policy yet. I called my insurance agent to cancel the policy, but she told me to wait until after i receive the policy to cancel, which i find kinda weird..
I know that there's a 14 day period, but does it start when i sign or receive the policy?? If that's the case,then if I want to cancel, have to wait until i receive the policy?

call main office pru and say you wanna terminate asap

good choice

basically you will be shocked by their investment figures for 2008

also based on their benefit illustration, they can be around 20-30% lesser than other companies in terms of guaranteed cash value. and if you look closely, it wouldnt even break even.

zhiz22 added 2 Minutes and 21 Seconds later...

Quote:

Originally Posted by ForJoyLove

yes, im on a similiar insurance, i must say its very savy and a good saving plan however the onus is on you to be disciplined and watch your spending. remember money coming in > money coming out you will be safe.

you might be shock if you do a simple comparison. among all the 10+ companies, its one of the

cos the guaranteed cash value do not break even and the track record is damn scary. also cut bonus.