5年115%回報方案

Hi Lum Sir,

Premium Financing 
A bank staff today sells me a product of Premium Financing from FWD.  The details are below:
Insurance amount      $2.5M
First Deposit :           $330,000 (I pay)
Loan :                       $2.17M    ( from my friend’s bank)
Loan Interest :          H+1.8%   (~2% now)
Dividend :                 4.38% (this year , accumulate to the insurance)
Redemption handling fee:
Year 1  5%
Year 2  4%
…..
Year 5  1%
Year 6 onwards 0%
If I subscribe, the interest paid every year is $2.17M x 2% = $43400
If I redeem the insurance after 5 years , assuming 4.38% growth every year, the Face value of the insurance will be :
2.5M x (1+4.38%)^5 = $3097608
The profit is =  3097608 – 2.5M – (43400 x 5) = $380608
The profit percentage seems :  380608/330000 = 115%
According to the bank staff, 4.38% is the lowest reward in recent years. However, the ROI seems unbelievably high, and the staff hasn’t explained the risk behind.
For me , i think of the following risks :
1. The fluctuation of Hibor rate and dividend
2. No cash reward but just interest paid during first 5 years
3. It is an insurance , not investment product , don’t know if such easy to redeem after 5 years
Would you please advise if it is worthy to invest in this product? As my main aim is to invest , instead of buying a life insurance.
ANSWER:
本文描述之方案不涉及投資,惟一般經紀或職員亦不會明白這是什麼。想講係龍兄早前被人sell的一個保險方案,回報達115%(五年合共),而本金只需幾十萬。雖回報不是高到令你一步登天,但吸引程度令龍兄失眠幾晚,是否放手一博將套現所得再倍大,五年後等市跌有大量「子彈」再闖江湖? 先看龍兄之描述:

 

買入$2,500,000一筆過儲蓄保單,只用$330,000本金,餘下$2,170,000問銀行借錢。講到呢度實在令人氣憤:「保險周街都係! 借錢更加唔想! 而家仲要一次過做兩樣?」 且看龍兄條數點計。

 

儲蓄保單會派息,按上年年利率為4.38%p.a.,幾年前高可以7%,低都有4%。問銀行借錢收息為H+1.8%,現為all-in約2.0%。那借出之$2,170,000有套息機會,為4.38%-2% = 2.38%,用二百幾萬黎計每年都有四萬幾,見下方表列五件後保單預計取回$3,383,000,而到時還錢$2,170,000,息比足五年為$2,170,000*2.0%*5年=$217,000。

 

而龍哥心中運算為?

2.5M x (1+4.38%)^5 = $3097608

利潤是 $3,097,608 – 2.5M – (43400 x 5) = $380,608

回報率:  $380,608/330,000 = 115%

 

當然你睇文中附有之報表,五年取回值為$3,383,099,點解比$3,097,608更高呢?? 實在是些事情在買入前要注意。而4.38%為上年派息,幾多曾經派過7%? 如果每年7%咁真係好過買樓喎! 用保單抵押借錢仲低過按揭,而收息竟可4-7%,比現在很多單位更高! 最後亦最重要一點,借左二百幾萬係點還呢? 好似供樓咁還? 定係循環貸款咁還? 既然市面都唔係咁多人識,一版紙更加係說不清,在收息班有詳解此方案。

  014

 

*買樓101、102講解套現技巧、買樓裝修必需知道事項










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