Generali Vision SIP plan
Hi.
Has anyone invested or is aware of the Generali Vision Plan through Nexus Financial Services?
I received a "quote"/"report" to invest "x'000" USD for 15 years, as per my "financial risk appetite".
When I said that I am interested in a term plan of 5 or 10 years only, he looks at me with a stare as if I committed a sin.. or was it his shock at the loss of commission for keeping me locked in for 10 - 15 years?
Apparently, there is a "huge rush" for this plan as they are given "free" 2 months' premium.
Comments / feedback welcome.
Cheers..
sayara, how I can create my own spreadsheet? based on what information? I have an internet access to my account, but it shows some unrealistic growth. Sort of "too good to be true". So I am kind of confused.
pilkclaire, what do you mean, promising a minimum 9% growth but so far the growth rate is more than 20%.
Do you mean, for those who is currently with Generali the growth rate is more than 20%? Or you mean, that he promise 9% while in the market it's 20%?
sayara, yeah, 13% in 3 years isn't impressive. I think you can find some off-shore bank which gives you 3-4% per year, without any risk.
does anyone else has an experience with Generali?
Hi all, Anybody got any bad experience with Generali investments (not insurance)? somebody contacted me recently for the investment for 15 years. I am planing to invest 800$ per month and guy (one of my best friend) already told me that the first 2 years will be their administration fees. He is also promising a minimum 9% growth but so far the growth rate is more than 20%. I would like to hear your good and bad experience with Generali. thank you.
I was promised a 7% growth per annum. The investments are in mutual funds so of course nothing is guaranteed.
My spreadsheet (and you should create your own) indicated a total of 13% growth at the end of 3 years, however at 7% pa the total growth should have been 20%.
While I guess its better than just sitting on the money and have it do nothing, there are many other options. If your IFA pushing this product only wants to sell the Gnerali Vision plan you can be assured they are looking for commissions. If they don't know anything else then they are not that good and you should find another IFA.
look.. let's say I have invested USDXX.XXX for 5 years, and I am getting steadily 10% a year on my investment. So even if Generali takes to themselves 5 times more, I kind of don't care, because where else I can get 10%? This is my point..
scorpio, thank you.. but again, do you have an idea of how much can I earn? I mean, I don't care how much is going to them... I care how much can I get. Are we talking about 5%pa? 10%? 20%?
And if not Generali, what are other investment options?
Thanks
it isn't worth joining this plan at all since all your invested money is used as payment of their administration charges for 1+ years at least, depending on your policy duration and invested returns..
sayara, and if you don't have to walk away.. do you have an idea how much average interest per year is earned? Is that 2%? 5%? 10%?
Is it worth to join this program for let's say 5 years?
The 15 year plan has an initial period of 15.6 months. This means that the first $15,600 goes towards the administrative fees. I don't know is how much the commission is for the seller but I'm guessing its a percentage of this.
Suppose you signed up for $1000/month for 15 years but something happens and you had to leave Qatar after 2 years and just couldn't keep up with the contributions and needed to liquidate. If the market was flat...you would walk away with just $8,400 after paying in $24,000 (the $15,600 is lost to fees). You would be better off for the first 80 months using a 2% savings account.
a commission fee scheme is involved and the less time of "commitement" from the client the lower the commission is for the "seller".
Regards!!