Mandaluyong, Manila
1 comment
Not resolved

I got into a mess with Generali Life Assurance with their program Money8Secure plan without giving any second thoughts. What a waste of money! Generali do not want to give my hard-earned money back any longer upon trying to surrender the policy/program.

I went to a certain BDO branch to inquire about UITF as I was eager and desperate to really start investing and saving for my future and then the teller directed me to a financial advisor. It turned out that this junior financial advisor is from Generali Life Assurance Co. and I did applied for the program "Money8Secure" right away after having been convinced. I was too eager to start investing.

I paid the first premium amounting to more than Php8,400 for the 30,000 annual premium.

After some wise thoughts, several considerations and other financial obligations are coming in, I realized that investing in Money8Secure Plan is not money-wise and convenient for me after all. It is like my money sleeps in the bank for 20 years and I cannot withdraw it anytime for emergency.

I know there should have to be a separate Emergency Fund however, a Php30,000 at Generali's Money8Secure plan would only make me about 1,500 pesos in a year whereas, I could have a lot WISER and invest that 30,000 somewhere else and earn as much as 18,000 pesos annually. Now, think how much my money would earn in 20 years!

Take it from me, think thrice before investing at Generali. If you think you cannot pay the premium regularly and not willing to keep your money sleep in the bank with Generali Life Assurance in 20 long years with minimal return or dividend, never attempt to apply for Money8Secure plan like I did. You'll only have low probability of withdrawing all the payments you have made.

My hard-earned Php8,400 just went to waste.

Review about: Generali International Limited Vision Retirement Plan.

I didn't like: Surrender value, That they do not refund money.

Review #885703 is a subjective opinion of a user.

Reason of Review / Monetary Loss Bad quality / $178
Preferred solution Full refund

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Anonymous
Vantaa, Southern Finland, Finland #1238126

"After some wise thoughts, several considerations and other financial obligations are coming in, I realized that investing in Money8Secure Plan is not money-wise and convenient for me after all."

Oh really?How come you didn't have these "wise thoughts" earlier?

You knew what was required of you beforehand. If you're too *** that you can't plan your finance in advance accordingly you WILL suffer losses in investing. Only idiots invest first, then change their mind and expect to walk away whole. Call your loss a tax for stupidity.

" I could have a lot WISER and invest that 30,000 somewhere else and earn as much as 18,000 pesos annually"

Lets face it, you are NOT a wise person.

Are you telling me that you think you can invest into somethingly on a monthly basis and rack in 60% annual return consistently for 20 years?? Are you serious? As they say, fool and his money are quickly departed and if you think Generali is the pinnacle of scam you're in for a world of (financial) hurt with those kinds of return expectations haha

Lastly, you CAN retrieve the pocket change of $157 you invested in Generali, but since you don't have any real reason to cancel the plan I'm not gonna tell you how. Mainly because for a fool who believes he'll find a non-scam investment of 60% annual return, Generali is perfectly suited for him.

Take it from me, in 20 years when you've lost all your money on a bunch of scams, you're gonna look back on...

Even at 5% net return @ 8'400 PHP/mo will amount to 3,4 million PHP.You will not have that money with your intelligence outside Generali, sorry, but that's just the way it is.

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