Hi friend, sounds like you are muslim friend. These are my opinion:

1. Insurance coverage is to transfer your risk in life, or you can call it your commitment and lifestyle. (ie: if someone bring home 5k per month, he should have life insurance of x years, in case he pass away or lost job due to OKU or critical illness. This part need to sit down with agent to plan. A 10-20% of your income can give you an ideal plan.

2. There are many online topic of conventional (traditional) vs investment link. I personally prefer investment link as it give both coverage and potential return. I like to highlight yes investment link will have higher cost when age >50. However starting young and plan well with your agent, the saving can help to cover higher insurance cost in future.
Furthermore, investment link has lots benefit and riders which conventional can't offer.

3. Pay 6yrs get pay 2nd year? I believe these are saving plan or endowment plan. Beware some agent might package investment-link into saving plan. The 2nd year start pay might not as promise. Unless you looking for saving plan, else you can ignore this for time being.

Since you don't have any policy, I suggest you should get a basic protection plan first.
Also I suggest you should take takaful plan, as it serve your religion believe. Plus! Islamic product is growing and we can expect a higher return.

cheers

Hi Yuen, I totally agree with you saving money and use it for emergencies. Well, depends what emergencies we talk about.

Have you wonder why car insurance is compulsory? I can have hundreds of thousand in bank account however when car accident happen, how can 3rd party guarantee get their pay?

Insurance is to cover our financial lost, especially major event : Death, Critical illness and Total permanent disable. The person and family will suffer financially for medical bill, lost of income to support family daily life.

We can have many saving to cover the mention event yet again insurance deal the problem faster. ie: someone die and his money frozen, insurance money will pay to beneficiary so time being no $$ issue.
That is why richman buy more insurance!

Every insurance policy serve different needs, and I'm sure your parents love you and protect you with this insurance plan. I suggest you can meet your agent to understand better your plan. Then only you make decision.

Lastly, when something happen, someone cover your bill, and you can keep your money, why not?

Friend sorry for what you have go through. Insurance companies spend millions of advertising fee every year, does itt make sense not to honor claim to spoil their reputation?

I suggest you need to look through the doctor report, which is the most important document for claim. I suppose what doctor report lead to the investigation. My team has a case doctor comment non cancer to a 3rd stage patient, yet we fight for client and he gets all claims back.

Make sure you get your agent, or go direct to the company to seek for clarification.

I'm sure there's room for discussion if the application is genuine. Else the last resort is bring up to the financial bureau.



cheers.