anyone getting insurance here?
is it right time to get now?
ur company does insured u
is that nessesary to start early?
as they say early u need pay cheaper

yes..when u get ur insurance at a young age, the rates are different to those of the working age..

altho ur company does insure u, probably it doesnt cover some areas in ur life like lady issues as such

yea, if u get at young age, it is better since u wont have so much disease oso. If u take later, they wont cover insuranse for ur current disease. That make quite pointless to buy insurance that time. Btw, a lot type of insurans too....mayb we shud be spesific then....

yeah..specific..thats the word..u need to know what coverages that u need in ur daily life(work, lifestyle)..

an instance, for scuba divers, there's a non profit organisation, DAN(Divers Alert Network) providing insurance coverage for diving related illness, diving trips and medical care..

There are education insurance, investment insurans, lefe insurans, health insurans and more....mayb u can ask around to find out which suit u the most.

yeah,... i got mine from HLA.

I always asking people to buy insurance in any case. As i think everyone must have at least one. The drawback is,... everyone only could have one to claim too. As when any "touch wood" thingy happens, the insurance company only accept the original hospital document. That means, there is no use if you apply 2 life insurance, while you only can claim one from them. Just pick the better one(to your opinion) would do.

For case of if a person got 2 insurance signed. "touch wood" thingy happens, while the person still alive. The amount insured from one insurance company is not enough to cover the amount cost(due to hospitalization, operation etc). We still can ask the first insurance company to help us to claim from the second insurance company(only if this case happens). This just for information...

This post has been edited by edifgrto: Dec 2 2006, 10:20 AM

You can claim only from one company at a time, that if you have more than one medical insurance from different company. Its not advisable.

Anyway, for life policy. u can have more than one, and the insurance company will pay if let say you're not breathing anymore..

For medical insurance, its better to take from a company which gives you "Guaranteed Renewal" policy. Not lots of company doing this. One of company that have this kind of policy is MAA Bhd

hmm mm, oh like that? Thank for your guide here. I thought life policy need 1 only.

bro, what is that "Guaranteed Renewal" policy all about?

How much insurance policy to buy? Anyway to calculate?

Example :

Person A bought a medical policy with Company B coverage of RM50K
He has been paying his policy for 4 years now.
On his 4th year he claimed for his medical for 25K.

On 5th year, he wanted to renew his policy, but the company rejected because of his health etc. Company has right to reject because normally medical insurance are based on 1 year contract basis. Thats mean after a year, you have to renew it. Its up to company to accept your renewal or not.

If the policy stated its a guaranteed renewal policy, then u dont have to worries. U claimed so many times also the insurance company MUST renew your policy no matter what.




Normally, financial consultant would advise you to save 5-10% from your income on insurance and investment.

This post has been edited by Civil: Dec 2 2006, 12:13 PM

Oo...so no worry even u suffered from a lot disease?
Btw, there is another type insurance investment. so i juz wonder how is the dividen? more than normal investment + waranty on health?

Yupp, dont worry. Unless its stated on the policy.

I assumed you're talking about investment link product. Its an Insurance + Investment. The dividend is depends on fund that you choose at the time u sign up. Normally, consultant will suggest customer to invest in low risk fund that normally would give you around 3-6% returns,

Based from my experience, insurance is good but make sure you have extra cash on hand in case of any emergency. For eg... someone passed away. For the chinese, of course a funeral would cost thousands of ringgit. The lowest also is around rm10K. If you are expecting insurance money to cover, you'd better not hope so far as the process is kind of slow to have the money drawdown to you. (you can expect to have a funeral with a decomposed body don't cha?)

Some products gives you advance money to cover the funeral cost.
Normally, the company will issue you a cheque after you submit them the relevant docs such a death certificate, police reports etc. Normally timeframe are 24hours.

Also, most of investment links type of insurance allows you to withdraw amount of money from your investment account, but there's still a minimum amount must be kept,usually its around 2k.

I recently bought an investment-linked life insurance policy from Great Eastern Life.

If you could start early, it'll be better as the amount of money you'll be getting is higher for some low premium.

This post has been edited by David83: Dec 3 2006, 01:48 AM

Shouldn't buy investment-linked life insurance, it is more high risk.

At the end of the policy, your invetsment might be null :lol

Really? But people are keep on promoting it?

mind to elaborate more? would like to know the reasons behind.

I also want to know why ...

Investmest link product is not a high risk policy.

People need it because they need protection and at the same time they want some of their money to be invest with not much hassle.

Hence the customer got 2 in 1 products. I will brief more on investment.
When cust buy an investment link product, your consultant would normally asked you and suggest you which fund that you preffered. Issit a high risk investment with high returns or low risk investment with average returns.

An Aggressive Diversified fund like Growth Fund put their strategic assets allocation mostly 70%-80% in equities, fixed income securities & liquid assets-25% and other assets - 5%. The majority of the total return is likely to be in the form of capital gain by way of increases of unit price or by creation of additional units (bonuses) after the end of each distribution period. If you fancy a high returns figure and dont mind the risk this is a fund that surely suitable for you.

If not, better stick to a balance diversied fund or Conservative Diversified fund which gives you average returns . Also the risk is between low to average.

This post has been edited by Civil: Dec 4 2006, 12:48 PM