Just to put in my comments - not to offend ANY agents or insurance companies here. But ALWAYS ALWAYS remember past performance does not indicate future performance. Even if a company is doing well now, anything can happen. Would anyone have predicted what happened to AIG? All companies exist to earn profit. Give value to shareholders. Board and management can change. Policies can change which might affect one company over another. No one can predict the future.
So that is why I personally don't like being too tied down to a certain insurance company. Those policies which mention coverage till 80/90/100 yrs especially, personally I would avoid those. But that's only me. I prefer shorter term coverage, e.g. 1 year PA renewed yearly for coverage against accidents, e.g. for education I want the coverage to mature when child turns 18 or 20 latest. At that time, I can look at my financial position (can I dream and possibly be the next Robert Kuok?) and then re-evaluate my needs (if I have billions, do I even need any more insurance?
).
QUOTE(yeyayey @ Mar 12 2011, 03:12 AM)
not worry, it's just a discussion here. no offending occur
I am agreed that largest company not perform the best and no one can predict what will happen in the future especially comes to investment. Please not get me wrong, I am not saying other company not perform well in their investment fund.
From the Allianz managed fund, it's show a very good figure. However it's very hard for us to calculate the actual policy yearly return. so many criteria we need to consider in, the bid price and offer price for the particular policy. for the pass Great Eastern balance fund performance, it hit 29.29% return on 2009 and 18.2% on 2010. This figure is from Personal Money Magazine.
Also, I have a latest copy of bank negara report which show Great Eastern Company Performance has a better performance compare to others. However it might subject to change cause bank negara report always give abit out dated data due to each company have different financial year end period.
Added on March 12, 2011, 8:55 amThanks Nepo, I am of the opinion any insurance policy for children should cover the life of parent not child. I have seen few proposals where the insured is the child, to me, what for? I get proposals for RM150k coverage on child. If anything happens to my child, I don't want a single sen. It should be the other way round, anything happens to ME, then the child is the beneficiary (to support his future education needs).
I would be very grateful, if anyone can let me know which education insurance fits my requirements and also these below (insured = parent)
Thanks!
QUOTE(Nepo @ Mar 12 2011, 08:43 AM)
To qualify as tax dedution for an education policy , the following criteria will have to be satisfied:-
EDUCATION POLICYI) The beneficiary shall be the child;
ii) The insured can be the parent or the child;
Where the parent is the insured Where the insured is the parent, the child must be the nominee.
b). The rider must also have the same duration as the basic policy.
c). Where the payor benefit is attached as a rider (i.e. separate premium is paid in addition to the premium for the basic policy) or in packaged together with the basic policy (i.e. single premium), the premium paid will qualify for tax deduction.
d). Where the payor of the policy does not qualify for payor benefit (due to high risk), the premium paid for the basic policy will not qualify for tax deduction.
iii). In respect of a takaful policy, the participant is the parent and proceeds of the policy must be made "hibah" (gift) to the child.
iv). The maturity amount or periodical payment of maturity amount in respect of both conventional or takaful policy, must be scheduled to be payable when the child is between the ages of 13 to 25
Mar 11 2011, 03:57 PM
Quote
0.0220sec
1.31
5 queries
GZIP Disabled