How many insurance does a person need? what types of coverage and for how long? and most important is how much the premium is per month/per year?

I'm not an insurance agent but had been sweet talked to buy different plans and end up little WISER only

Why do you need insurance,first place?
It is to give you a monetary protection to those depend on you as a source of income should any 'SIAL' happen to you!
Never your objective to buy insurance is for INVESTMENT RETURN. It's SIOW to think that.
Why? The insurance company and agents will love you dearly for parking your money there and take those to invest so they can pay you the profit they made and you praise them after 30 years for giving you a sucker profit

Who depend on you for source of income if you're CACAT or MATIKUNGKAKIAW?
Either your papa,mama,sibling,children or wifu get the money to lessen their burden only
No other objective!

So what are the coverage that you need?
If you're always away from home and travel a lot buy more for Personal Accident;
If your neighbour or family member who smoke a lot PLUS you eat more outside food then home cook meal buy heavily on critical illnesses plan;
If you think our GOMEN hospital has been improved and upgrade then buy less for Medical Card

Never spend hefty sum for insurance premium that eat you alive and end up you go broke every month.

For myself, the insurance plan which I bought has no return at all. Yes not a single sen but the coverage is huge and attractive until I'm 70 years old. I'm not sure if I'm really can live that long but my kids will have grown up and able to fence for themselves. That's my purpose of buying insurance. Got em'

This post has been edited by TheNew: Feb 27 2012, 02:57 PM