[/quote]saving insurqnce？ pa insurance？

This post has been edited by skyblack4492: Nov 20 2013, 03:39 PM

cos unker feed their pockets tight tight with loads of cash.

salah replied.

This post has been edited by limfreelance: Nov 20 2013, 03:50 PM

https://forum.lowyat.net/topic/3037945

Buduh

roystevenung Ada orang nak beli insurans.

sorry, indianet slow, replied in wrong thread. paiseh paiseh.

None. Do the savings in pure savings like bank FD or ASNB, never in insurance.

When you look at insurance, you are buying the coverage associated to it. The cover is NOT FREE and RM 100 that you put in perhaps RM60 will be used to buy you the cover.

This is why if you choose to surrender the plan in one year, if you put in RM1200 per year, you will only get back RM 400 maybe lesser.

Do not get brain washed by insurance agents selling and promising you high returns. At least for bank, you can withdraw it after one year. For insurance savings, you will need to wait a minimum of 20 years before you can touch that money.

<----- honest agent

Terimakasih Tuan Speaker fazlythewarrior

This post has been edited by roystevenung: Nov 20 2013, 04:53 PM

Savings plan, to actually benefit from it you need to be young wheb you buy . Old people buying can't break even lol.. Savings plan is for people who do not save at all so having something is better than 0

[quote=skyblack4492,Nov 20 2013, 03:30 PM]

[/quote]saving insurqnce？ pa insurance？

[/quote]
Insurance =/= investment.

Insurance can't make you rich, but when unfortunate happens it will prevent you to become poor.

Do not get brain washed by insurance agents says an Agent

one time I saw a brochure my Mom got from her friend, about one plan

some insurance coverage, not very big

but as for the savings part, even though the commitment/payments are small, simple calculations reveal the customer would be essentially buying the product to lose money... the return was so small that it represents a loss when compared to/discounted at the regular term deposit savings rate

the cover is limited, so I would assume no claims, or no chance of a claim... meaning the cover would be worth nothing

to a layperson the product might seem nice with all the promises of "cash"

can consider buy Term Insurance + Hospitalisation + Critical Illness

forget about returns

very honest.... but wont that affect ur $$$ and productivity and ur immediate officer/supervisor?

eh.. the 1st 2 years very little cash value due to agent commission sapu most of your premiums first ler.

roy tung unker, you deserved to be belanjaed teh tarik

but dont ask me to buy insurance... just belanja while tokok only

i'm still waiting for our lunch..

Trust in this business is not easy to gain and not overnight gain. It is a long term business and giving the clients the best advice takes us a long way.

health insurance. take one, cut your hand. claim ..... PROFIT!!!

bukan semua sapu lor cos it is an insurance product and you are paying the insurance charges also. Our commission is only up to 6 years, after that makan rumput liao

Deswai if you nge nge want to kantoi the client by giving them products that are not much use, you think they will refer clients to you? They will only remember you make them lose money

Until end of the year susah sikit, sibuk banyak Tunggu tahun depan. You from where liao?

Lai lai, PM me your contact numbers so that unker can serow poke you guys when free

[quote=skyblack4492,Nov 20 2013, 03:30 PM]

[/quote]saving insurqnce？ pa insurance？

[/quote]


fren, insurance is to...insure...

when u go to insurance for investment, then i feel so sorry for u

Cut your hand? Bro, any self inflicted injury is not payable, apamacam mau profit?

genting

big or small

double or nothing

Yup, don't have to wait 20 donkey years to get the returns

i sked u

why?

Potong something else can claim more ?

Suicide payable ?

many stars, many gf

dun have le.. me good buy wan.
those stars/post was in audiophile forum last time when i joined.

how is business in general comparing to last yr? better or worse? i heard business is bad comparing to last yr.

i summore sked.. i only know pedophile now i know u are audiophile
sure u got play wit subwoofer lubang

u are funny.. hahaa..nice..

hehehe jk jk

hehe ..are u getting ready you leave office now?

yea.. closed 4.30.. now waiting for colleage to finish her account balancing of the day and can go back

oh.. dat area very jam wan wor..

insurance is never an investment.

ts, mind u 1 thing, insurance is not meant to be earning money one, lol, u invest in insurance and expect got return, sure gg.

yea lo.. but i take lrt to the car pak station.. so ok wan le..
u go back what time?

your office building so gooding, LRT is like next door only..

me, just now 4.30 .. now lying in bed posting this..

wow... so fast

last to go out first to come bak..

but no la sked jam yo..

you are good at cars ma
sure can zoom zoom one

next time i fetch u back..

can i bring my gff's too?
3 of us

aiyoh, my "myvi" only 2seat wor.. ok ok i change to my alza... can take 5 GFF also no problem..

treat us @ mango jerry?

genting - small vs big

wah long time no go there.. yeah ok.. 3GFF max yo.. i sked pokai ..

ok lor
3 gff's ur myvi can fit one.. dun worry.. we all thin2 aunty only

usually u all go lunch time wan ar? or evening/nite? i remember going nite time park roadside.

no wor.. lunch time go central market or lee rubber briyani or mcd only wor...

that place only go after butter factory night

when is d last u go there? after 1am can park roadside one.. Sultan Ismail clear ady

so kecian ar go mcd down the road at traffic light there? next time lunch, i wait outside the road, you fellas hop in then we zoom zoom off to find food lor..

but mungo jerry is the jln raja laut wan rite? yeah late night shiok makan there.. u can go out so late meh 1am?

ya after sultan ismail , turn left to raja laut beside d hotel
lunch we duwan sayang.. coz have to rush rush eat..
nite2 can spend more time wif all of us u wont go out late meh ? u reli goodboi one a

It is payable but after one year of the policy is in force. If it is within one year, the insurer will only pay the accumulated cash values in the policy and refund the premium to the beneficiary.

Target for this year is to achieve RM1.15B sales., still early to tell now.

Gambateh!

Insurance is NOT an investment!

yeah me abit goody type.. butter factory pun belum masuk before..

if nite time go makan makan can la.. but you are staying which area wan? cheras/ampang/pj etc?

honest insurance agent! =)

That is what I said what, jangan marah bos

Insurance less for investment, but good for endowment..

insurance for INVESTMENT.

That alone spells trouble.

y now most of the insurance in malaysia is term life insurance? dun hv whole life insurance one meh??

Insure against risks you cannot afford to happen, such as the loss of your ability to earn an income.

For investment, do it yourself. Never mix with insurance because they do not mix. Nothing is free in this world and everything must have a price.

Not wanting to brag, but I just spend less than 30 mins a week reading up on finance and economics, and my investments are performing way better than any managed funds or savings plans in the market. There are many advantages to doing your own research. At the end of the day, you are smarter and you learn through the mistakes.

Think about it, is your 30 mins per week worth more than the fees you are paying to the agent, insurer and the fund manager?

U mau simpan anak murid

I think of myself as a learner, never a teacher.

We can learn more through sharing rather than teaching.

I guess u main stock..Teach me invest pls.

I don't "play". I invest in good solid companies with bright future prospects.

Learn 1 thing now...more plis

Yup well said my friend, well said

seriously, my exgf father damn tulan for buying investment linked products. money better in epf.

at least i dunno any success story. pls correct me if wrong.

got any link for reading material?

damn honest wei.

alot of agent will kill u... though ayam not an agent

Even if the plan is called ILP it is not for investment la ...

With riders that consumes insurance charges like medical, life, CI, accidents cover, disability/ci income added to the plan, how can it be called for investment?

Go read my blog if you want to learn about insurance...

Whole life still got bro, it depends on clients needs and mostly age. For younger clients most agents prefer to give ILP because it has the flexibility to be upgraded (provided healthy).

For example if a single person who just started work just need a basic insurance with medical, he surely cannot afford to pay much. Also a single person does not have responsibility likeus parents has to a newborn child.

Giving a single person Rm1m cover is kind of ridiculous, unless he is rich and afford it. But if he is rich and can afford it, why does he need insurance, as he can afford to pay for whatever that comes to him? Fikir2kan

For whole life, it is not that easy to be upgraded as there is a lot of restrictions. For example the cash calue allocation will need to be resetted etc

Then ayam have to buy more insurance liau

oso useless la... not u enjoy the money

insurance...

student: insurans tu apa cikgu?
teacher: insurans tu bagus. kalau kamu mati, kamu dapat duit
student: ???!!!???

simpan di bank, bila2 boleh keluar, cepat
simpan di insurans, bila sakit perlu duit, mau claim pun susah, lambat, kadang2 langsung tak dapat.
ada medical card pun tarak guna, normal uncomplicated delivery masuk hospital pun takbleh claim, jadi yg dah terpergi private hospital utk delivery mau claim pergi mampus la

then ada agent yg gila prihatin, orang masuk hospital mau mati tengah cpr pun datang mau urus claim, tapi medical record by right cuma boleh keluar after 2 weeks, masa tu pun masih confidential, so datang pun tak guna, lepas 2 minggu baru boleh claim, lulus tak lulus belum cakap lagi.

orang duit banyak tak kesah la bayar itu ini, bil itu bil ini, bayar insurans.
sebijik macam bulan2 guna duit beli loteri. bila kena loteri (ada mati ka, sakit ka) kamu dapat duit

ILP got many hidden charges i know

How about retirement plans that does not have any insurance coverage that goes along with it? You can only take it out after 10 or 20 years, ensure a decent return.

Thats the point of going for those so that one does not take out money just becoz its human nature that we want to spend it. So it works like another alternative to epf. Pls advise!!

Start by reading books on Economics. Find easy reading materials which explains the concept of value. Learn the terms. Through economics, you'll learn how the world works. You'll learn the concept of money, trade, currency etc.

Then start to pick up finance. Learn the concept of price and value. Understand the financial world of stocks, investments, derivatives, insurance, bonds etc.

Meanwhile, look at every day businesses and brands. Think to yourself, can this world function without this business? What makes this business thrive? What are its competitors? How easy is it for a new player to come in and disrupt the current business? Is this a totally new field that will disrupt the way we live?

After that, armed with the knowledge of pricing and value, you can then know how to value the business and get a price. If the price you have is higher than its current price to buy, then invest the shit out of it (I mean, taking into account your own risk appetite of course). You'll be amazed at how many overvalued companies there are in the world when markets are optimistic. On the contrary, in a downturn, there are so many bargains to be had.

As an added bonus, you'll know how to value things and you'll soon realise that investment linked insurance plans have very low value. I'm not saying its useless or a scam, it's just that you'll get better value not buying them.

I started relatively late in 2009, due to lack of capital. However, it was a good time as many were pessimistic. Now, I focus on growth companies and starting to dabble in derivatives.

I made some bad decisions along the way like selling too soon or buying too high, but you live and learn. My portfolio since 2009 is now up 69%. I'm happy with it considering I did not pay anyone for advice and I'm not from a financial background.

So to stick to the topic. Let insurance be just like what its name is, "insurance". Insure yourself against risks that may hamper your ability to continue to live your life, and your dependent's life due to your inability to provide for them. E.g. Health, life (if you have dependents) and disability (if the disability will cause you to lose your ability to earn). Insure against potential costs which may cause financial ruin, such as fire, 3rd party liability and to a certain extent legal insurance. Anything else, is useless to insure against, such as electronic gadget extended warranty. Also, don't mix the investment part into insurance. If you really need someone to manage your money for some reason, get a fee-only financial advisor and avoid compensation based ones like the plague.

This post has been edited by kelvinlym: Nov 20 2013, 11:03 PM

Insurance for unemployed
U bankrupt then take the money then reinvest in insurance again

If the plans are from insurance company, surely there is insurance elements involve, although it may be minimal cover. Insurance company are not authorised to sell pure savings plans, otherwise it may clash with mutual funds like Public Mutual.

AFAIK, there is no pay 10 years, withdraw and still get decent returns. Reason being agent commission, admin fee, insurance charges, bla2 already eat into the capital for 6 years (or lesser) hence it needs more time for the funds to grow.

For a 20 year, chances are it only break even. Keyword: BREAK EVEN

Lets not forget inflation, whereby Rm100k now is not the value of RM100k, 20 years later

Most people who do the PRS for retirement savings do it to get tax exemption of Rm3k as announce in 2012 Budget...

This post has been edited by roystevenung: Nov 20 2013, 11:47 PM

Uncomplicated delivery? You mean pregnancy?

So do you think going for PRS for the next 10 years is a good idea? Alternative EPF, 3k tax exemption, at worse-lose money, at best- 16% gain according to the latest results.

i got one insurance from xxx， need to pay until im 70+only get back money. i was being cheated by insurance agent.now i only 24. i was like.wth.

great advice. btw r u financial expert？

what are the best investment currently in market？ how can i start research and reading from where？ i have zero knowledge in this.field.thanks

If you do it solely for the returns, then no, but if you do it for tax reduction, yes :-)