There you said it yourself, you will be paid RM400 if you're warded means the rider pay you when you're admitted
So the hospital income, it depends on your need. If you want to cut down the premium expenses i would recommend switching to a basic medical card which will cover your medical fee and get a PA without the hospital income rider.
As of the ASB financing, i have 0 experience so can't comment.
Your current insurance
PA+Income Rider = RM768/year; cover accident and pay you income when you're admitted
TOTAL = RM768 ; RM64/month
Here is a estimated insurance charges (not agent so just an estimation)
Basic Standalone Medical Card: RM800/yr ,available from as low as RM400/year at your current age (premium increases on age category, nrmally every 5 years); cover your medical expenses
Basic PA = RM150/yr
TOTAL = RM950/yr ; RM80/mo
*If there is a need of Life Insurance, get a quote for term life from agent.
OR If you wanna follow the norm, you can always get investment linked bundle insurance (not recommended as of my self preferences)
Investment-linked bundle est. premium (common quote) = RM2400/yr ;and you get a bundle of medical, life, PA, investment/savings
TOTAl = RM2,400/yr ; RM200/month
Since you need a car den try to get one within your mean for now. Second hand car is good if you can get a good deal. Try don't spend so much for a car (liabilities), a local car is not that bad for starting
So you are planning to buy a house at Tmn Melati, at the same time rent a house near your working place? If you can get a good house deal den should be no problem but your savings will take a big hit if any left.
Your current saving/month
RM1200
+ RM140 (RM7/day at 20 working days est.) Motor fuel since you're using car now
+ RM64 ;your old insurance
TOTAL = ~RM1404
Est. new expenses
Personal
(A) Basic Insurance OR (B) Investment Linked Bundle
TOTAL = (A)RM80/mo (B)RM200/mo
* you can always get a lower quote on (B) from agent, if you insist to bundle
Personal/Share; halve the amount if share
Housing loan repayment for a RM300k property = RM1200/mo
Car installment = RM500/mo
Car fuel = RM250/mo ;lower since you renting near your workplace i assume
Rental = RM500/mo < can rent a house/unit within your working area at this price?
TOTAL = RM2600/mo ; halved at RM1300/mo
A basic calculation, might have missed out some of the detail or over est. some of the cost. Base on this est., you're going to be tight if you plan on getting a car, rent a house and buy a house at the same time now. Wait for the more experienced sifus to reply coz i have no experience
This post has been edited by morning06: Mar 25 2014, 03:50 PM