sh.. don't break ppl's rice bowl

the BS must continue for lousy agents to make $ neh - buy younger = cheaper... (unless U factor in total paid in life time +cost of $ AKA inflation AKA $1 when 20 = $10 when 40 kinda thing)
don't enlighten the masses lar

my apologies - wasn't saying U were.
there are several lar in LYN who on & off obviously advise "buy early = cheaper".
of course, there are some good ones that spell out what to watch out for too like roystevenung (so impressed, that i bought from him)

i spent a few days asking Qs, testing Qs & real Qs - drilling him leh.
can't recall all BUT the biggest impact to me was:

1. Life insurance with critical payout
The norm = 3rd or 4th stage (susah to save life liao) cancer or similar, baru payout
AND norm claims take >1 mth for critical illness payout
THUS don't rely on life insurance with critical illness payout to save life of love ones

I stupid - bought one for my daughter long time back, mainly for critical, not for death payout.
Now changed - beefed up her medical and bugger the life/death with critical (since i don't rely on her economically)


2. Medical insurances in MY
Generally all have a clause with something to the effect:
IF U have been overseas (over causeway too) for >XX days consecutively
U aint covered even if U are back in MY

I quickly changed my girl's medical to "overseas" insurer.. crazy..

The 2 above remember clearly coz gave me a good scare (worrier here) and made me run like mad to cover the "gaping holes"

Stage 1 can claim is not normal/general life critical illness
there are "speedup or something" type where customer can claim even if stage 1
and yes, U are spot on - premiums are HIGHer

Insurance is a no brainer
Insurance company isnt in it for charity or goodwill, it's PROFITs after paying admin + bonuses +sales commissions & the targets hit vacations

Thus, the risk they are covering for us is charged +premium for THEM, cost to us.
The higher the risk to them, the more blood they want from us
Insurance is needed to manage risk UNTIL one can manage with their own wealth (if ever) OR for estate planning (for that mistress or two when i die )

Just a thought

simple clarification: bought medical insurance in THAT country

er.. buy medical insurance in the country she spend most time in lar.
If U buy in THAT country, sure U'll be covered here in MY but... sure U want the headache of Forex, payment, etc.?

er.. boss dalam bilik. i eKuli je
Anyhow - bottom line is "know what U need, know what U buy, buy what U need"

no 1 size fit all lar dei.
eg. 1
critical illness that pays on stage 1? if it's of value to U to manage that risk with EXTRA premium. Yes, it's higher premium than the norm critical illness coverage.

eg. 2
medical insurance - well, eventually - around 60 to 64, the premium jumps so high that.. if U count total premiums paid (if U live till 80 or 90), U already can finance several surgeries liao.

Thus, personally - i'm using insurances now to cover risks i can't cover myself yet.
However, part of my goals are to be able to afford to cover medical and death risks myself eventually. <fingers crossed, plans drawn-executing-tracking-tweaking>

"see food" <hungry> lar
if U or yr love ones spend like 90 to 120 days out of MY consecutively, best to buy specific medical insurances that covers such. from the sample run-of-the-mill PRU, AIA, GE, Manulife ones that i saw,
all has that xx days exclusion clause and doesn't cover insured if it happens,
even though insured is back in MY.

Note - this was about 2 to 3 years ago when i was reviewing my "everything" (Wills, trusts, insurances, etc).
Let me go poke RoyStevenUng to see if things have gotten better in the local insurance market - though i wont be holding my breath

i think that fellow forumer is another one conned/misled by flat-rate interest VS effective rate interest
these financial institutions should be made to comply with certain marketing & communication standards.
urgh

This post has been edited by wongmunkeong: Apr 22 2016, 12:19 PM

Kak Zeti still has her hands full with fatboys' issues, no time to answer my WhatsApp message

sigh... please do not state or ask such Q.
as a PubMut agent or any UTC, U should know better.

this is WHY some are saying 3 legged-cat kungfu want to show-off or cari prospects.
Add value la, not confusion

note - in nowhere did the forumer state his bro/friend age

This post has been edited by wongmunkeong: May 3 2016, 11:08 PM

1. Do U understand what a forum is?
a. A forum is where people share & talk/think things out - especially Finance, Business & Investment thread.
b. There is no "personal talk" or stepping on toes if one were to interject in any posts, if one provides evidence/reasoning
c. People here (this thread) talk numbers, proof, evidence, etc. - well, should anyway BUT U as a UTC are saying item (2.)

2. U, as a UTC, should know better than to state that people can use EPF A/C1 --> Unit Trust --> Cash out unless that person is no longer contributing to EPF.

3. Sending me a personal PM, "geeking" me?
seriously?
+ reporting my post which i stated (2.) and telling U why some folks think what they think of U because a UTC itself don't know the law?
U & Supersound deserve each other.




This post has been edited by wongmunkeong: May 4 2016, 12:34 PM

No point clarifying / helping some folks.
Like i said, Supersound & Sniperz deserve each other.

I've learned long ago about bringing cows to water Vs getting cows to drink

er.. I was using SCB's flexi mortgage in 2001 - that's more than 10 years back.
Yes - it's flexi mortgage like these days (or better, since no minimum usage of loan is required)

i'd rather think of it as "Response-ABLE leveraging" -
ie. if one can service loans (any number of home loans or loans) with no issues even if kaka happens
AND the rates are right/good (for the usage),
why not?

The only reasons i see one shouldn't be doing so are:
1. dunno / unclear (CRYSTAL CLEAR) of what to do with the $
2. dunno / unclear of the risks (+ buffer)
3. just want to be debt free (a good thing, may not necessarily be great for growth but it is a good feeling - been there before )

Just thinking - no absolute right / wrong

i'm lagi kiasi - i value my properties based on last bank-lelong reserved price
feels good to value them at "hot prices" though - feel saja lar, not prudent of me

good PoV

Personally, i keep "2 books" - 1 for the banks in "their language" of net worth
VS
prudent-style, which is like your PoV - ie. don't count primary home, doodads (cars, airplanes, yachts, that 100" 4K wrap-around TV )

Thus, easier to talk "proper data" with right people

the devil's in the details kua?
asset & sub-asset allocation, currency/country location, buffers, how much is enough lv1, 2, 3, etc
then
when kicked the bucket.. how to share without causing world war 3 OR want to control from beyond the grave via trust funds,
all with as low tax or expenses VS value?

This post has been edited by wongmunkeong: Jun 24 2016, 02:00 PM

er.. why bother arguing logic/maths with the illogical + hunting down historical illogical posts ar?
Do like Frozen - let it go... let it go..

nah, i'm now consolidating my paper equities to my US TOS a/c for doing covered calls - to reduce costs basis / increase yield. must bite the bullet liao - bleeding 1.5%pa to 2%pa for management fees banyak sakit