Over here in Canada a 750,000 RM term life insurance policy (20 year validity) costs a 25 year old (non-smoker) less than 100 RM/month. The cost of a life insurance policy in malaysia should be even lower. It is certainly nice that in malaysia the premiums can be deducted from your income for tax purposes but the tax deductability would hardly seem to be a strong reason to actually buy the insurance. In fact, I wouldn't even suggest a young unmarried person even worry about life insurance since upon their death they would not have any dependents who need income. If your parents are too poor to afford a funeral for you, a small life insurance policy that is enough to cover funeral expenses would be appropriate.

Term life insurance in Malaysia is either unavailable or costs an order of magnitude higher than what is available in USA. If USA's price is the same as Canada, the same should hold true.

Life insurance only make sense in Malaysia for people who want protection up to RM 100K to RM 200K. For experienced professional like you, RM 100K to RM200K is probably nothing to you. If you want protection up to RM 1 million, that is highly unusual for Malaysian, the premium is so high that you must as well self-insure and save money.

This is from my own personal shopping experience for term life insurance in Malaysia.

Dreamer

This post has been edited by dreamer101: Feb 15 2006, 10:40 AM

Life Insurance insured sum is decreasing as your age increses (the year you bought the policy).

For age around 20-23 (roughly), you can get a protection of RM150 ro RM200k. Well, it also depends on how much your pay for the premium. This example is based on RM200/month or RM2400/year.

Stitchy�

200,000 RM life insurance in Malaysia is probably about the same equivalent to a RM750,000 life insurance policy in Canada. It could pay off the outstanding portion on a house mortgage in the event a sole-wage earner has an early death.

My point is that buying life insurance is not an investment or something that is done to reduce your taxable income, it is something you buy only to cover the costs your dependents may have in the event of an early death for a wage earner.

Usually in Malaysia, as a full-time employee, you get life insurance protection up to 5 years of salary as part of your employment. So, for an experienced professional, this protection is more than enough to cover house payment in your example.

In Malaysia, the latest trend is that young professional only take a 50% to 60% housing loan since they are flushed with cash. This was repored by personal money magazine.

Dreamer

depend wat hse u buy la...same prof with same pay will hv diff point of view when come to purchase of assets...save to said method of repayment...

how bout those so call 'investment plan policy + insurance' by by GE or AIA???

now those insurance agents keep promote those kind of policy...say can save money and also get protected

Are you referring to investment-link insurance policy?

Stitchy�

yes....any comments?good to buy?

My FP also quoted me that kind of policy. Since it involves investment, there's some risk on it as compared to the conventional type of insurance policy. I have no time to consult my FP for depth discussion on this.

Any other more professional views on this matter, guys?

Stitchy�

This post has been edited by David83: Feb 15 2006, 02:34 PM

Anyone knows how to close a trading account?

Planning to close mine.

Trading account for stock trading?If so, just go to your broker's office and fill up the closing account form.

Wondering will they return me the balance..
It's CIMB by the way.

Anybody TRY this before???

SWISSCASH

It's not all those FOREX SCAM.

This post has been edited by TanSriLowYat: Feb 15 2006, 06:26 PM

Cash balance, if any,should be refunded to you.If there is any stocks in your CDS a/c,even 1 share,the CDS a/c cannot be closed unless you transfer the share to your CDS a/c with another broker.Only CDS a/c with no shares in it can be closed.

But you should have no problem in closing your trading a/c since CDS a/c can exists without a trading a/c,in which case,you can't trade anymore but can trasfer the shares out .

This post has been edited by lklatmy: Feb 16 2006, 08:42 AM

helo peeps, im new in investment just opened my cds account today.sigh..
ermm btw i got 5000ringgit to start...any advice or suggestion in what share should i buy...not looking for quick return i just want smething stable ^^ Digi a good share??

The KLSE is not a place for "stable" investments. KLSE is highly speculative. Even blue-chips stocks like Telekom have been lousy investments over the last 5 year period.

if u know how to hit and run and not greedy everyday also can earn money

Here;s a forum which the Moderators take all the initiative to list out all the FAQ for newbies in equities market....but too bad it's in mandarin...
Click Me
So far i noticed that all the discussion made have been limited more to technical issues...the forum above touches more on "real" issue...where some of the forumers actually share their work of analysing stocks...BUT READ AND INVEST AT YOUR OWN RISK

And, this is anothe e-book regarding basically all of the stock market...
Click Me

if you are not in a hurry,spend some time to research some of the counters.


No one can tell you which counter to buy,unless he/she has the "adviser" license,i suggest you seek advice from someone that works in a securities company.

If you want something stable,dividend shares are the best choice.I wouldnt really recommend IPOs,because most of the IPO nowadays are crap.

This website has everything you need to know about stock market,futures,options,forex or anything else that is related to investment

http://investopedia.com/



This post has been edited by mobiusone: Feb 17 2006, 10:29 PM