yeahhh that's help. thankss..

so during the process, i need to give them my medical report so they can evaluate my condition? for the profession class, is there any subclass for every class?
dreamer101,

for medical insurance, how much is too much? should be below 5% from salary? is it wise to pay more to maximise tax relief (medic insurance = up to3k relief)

dreamer,

25 just start my career. i should say i don have saving yet..

rule of thumb is to buy little insurance as possible. how if one day i realise that i need more coverage. could i just upgrade it(is it possible)? or just buy another insurance with better policy?

All I'm saying here is to purchase based on what You yourself feel that You Need and  can Afford. Who is to say that it is wrong to spend 10-15% of your salary on insurance? As long as you feel you want it and can afford it. Some people whom do not believe would probably tell you that, on the other hand some whom have seen the great benefits of it would tell you otherwise.

Funny most of the people i know spend 10-15% of their salary on insurance and they r still living a very comfortable life.

U like thumb rule i give u another. It is best to save 30% of one's income as a SMART consumer. Save before Spend. Not Spend then save what's leftover.

So saving 10% in insurance is definately not going to take ur life away. U still have 20% to save and invest in other things.

PS- All opinion shared are individual opinion, does not reflect GENERAL.
Want an answer? Ask 25-50 ppl... then maybe it may hold as rule of THUMB.

Oh before i forget, there are many ppl who spend much much more on ciggies n booz.

Actually to most people they CAN actually afford it, but instead of spending it on the things they need, they focus on the things they want.

Some of those things that they want are like the shopping sprees, cigarettes, alcohol, etc. Do they actually really need it? Can they do without it? The decision is thier choice, no commitments, full of freedom etc. So they spend off all thier money and left with nothing to save at the end of the month.

Then there are some which are smarter, they save first before they spend. So at least it helps to control their own spending a bit. So they save save save, and after 3 months, since they felt that they have been good boys n girls and decided maybe a reward would be good for themselves and just that there's this nice watch, handbag, dress, shoe, or that ps2 your friend just bought which you just need to have it because he keeps telling you how much fun he's having.  So yeah, the end up spending off what they have saved. This we called it delayed spending, not really saving.

Then there are those which are the most dicipline. Save every month, for years and manages their financials well enough. Do not overspend in anything at all. Saves as much as he can on all things and make sure he doesn't overtip the waitress or even leave any tips at all. So after a few years 3-4 perhaps, so he has a sizeable amount of money, and since he's planning to get married, buy a house etc. where will the money come from? The savings of course. So what happens then? Back to square one again and start saving again because they plan to have a baby and which is great and the cycle continues. This is much better than delayed spending and its called goals saving.

So which group do you think most single young graduates belong to? 1st, 2nd or 3rd? I would think either 1st or 2nd mostly, and If there was a product that could give them good PROTECTION, actually help and discipline them to SAVE and also INVEST it at the same time with the help of professional fund managers with ONLY that 10-15% of thier monthly income, do you think that they can afford it? Can you show me any other better way to teach them how to save, give them the protection they need and also help them invest at the same time?

Those in the 3rd group with better financial knowledge would even benefit greater from such a product since they already know how to manage it.

Would you be interested in such a product? Do you know which product that is? Take a guess, it has been explained before in the earlier posts.

The reason why such a product exist is because, the market wants its, the trends are changing.

During our grandfather's day they save money, accumulate it, then only invest it.

In our father's day its the reverse, they invest first, then accumulate, then only save for retirement.

In this new generation, we Save, we Accumulate and We invest All at the Same Time.

As I said earlier, banks are not just banks nowadays, insurers are not just insurers anymore, brokers are not just brokers. They are all fighting to get the bigger piece of the pie. Everyone is stepping over each other's line of business. If you have a choice, would you stick to the old conventional ways? or be willing to move forward and embrace the new trends in the industry? That choice is up to you.

Hmm.. After reading so much.. A little bit blur... And i think dreamers should actually migrate to USA.. Since you like there so much... We have to accept the facts that the definition of total and permanent disability between these 2 country are differents... Insurance company do their research before they publish their products.. Of course this products might oni suit MAJORITY of malaysian.. some MINORITY, i suggest they move to USA.. Or if u want malaysia to have such kind of insurance.. Form and insurance company with that kind of benefit... If that is a success then congrat.... Insurance company is also a company making BUSINESS.. and making MONEY.. it is just like any other company out there...

i recall dreamer said the difference is due to the lack of competition. maybe one day our insurance industry also can achieve the same maturity 

Thanks, Civil. My point is precisely that insurance agents should not dump the exclusion clauses to potential buyers who are likely not to understand it. You don't need to be a doctor to explain to clients which medical conditions are exempted for the first year and for life. Furthermore, there is nothing stopping you from acquiring additional medical knowledge. I don't believe a car salesman will answer "I'm not a mechanic" when you ask him technical questions.

I've seen agents doing extra to make sure their clients understand the specifics and not a generalised comment about certain illness being excuded. IMHO that's the right way to sell a policy.

It is simple for you, you just take the commission. It is not so simple when your clients suffers an illness that is excluded from claim.

Forwarding this question to the Insurance experts here,

Education Fund
Though i am still a long way to go for a marriage but if i do have any child in the future i would want to get an Insurance Education Fund.

I have read in 'The Star' newspaper weeks back, there is this article about Education Fund, the Insurance Experts have said that it costs RM100,000 a year to send your child overseas, where else in 20 years time it will be RM 300,000 annually.

So my question is will it be advisable to get an education fund eventhough there is no guarantee that my child would want to go nor having what it takes to live with the education system else where.

Dreamer,
Could you enlightened me with the question that i have imposed on Pg 9, Thanks.

You always said this kind of thing. What if things goes wrong between survive and rich ? Do you have any emergency fund? What if the fund is not enough?

It's absurb for a unit trust to charge so much front end cost.  Most competitive unit trusts do not impose front end charges.

"with great consistent performance"?

Historically and statiscally has proven, passively managed investment out-do actively managed investment in long term.

So how is the consistency defined? 5 years? 10 years? 20 years?

Seriously speaking, it looks nothing more to me than a carefully tailored marketing statement.

2. A research shows that, for every 100 people who started thier career at the age of 21, the following situation exists at the age of 60 when they retire:

0 - 10 are dead
1 - 40 have monthly income under RM1k
2 - 40 have monthly income between RM1k-2k
3 - 10 have monthly income over 2k (consider financially free)

From the above, I only categorized them into the 3 groups I mention in my earlier post. So from your description of the 4th group, they would be among the 10 that has over 2k monthly retirement income. So how many among the 10 would you think is among the 4th group? 1? maybe 0? How many billionaires are out there? Why do most people fall into the 1st and 2nd group? Is it because they are stupid? or is it because they lack the financial knowledge that those in the 3rd group have? Do you think that they do not want to be at least in the 3rd group?

If there is a systematic way of helping it them reach the 3rd group wouldn't that be great? If you are among the ones in the 4th group, I congratulate you, you are well on your way to being rich  if no illnesses, no accidents or anything unexpected were to happen to you or else you might be in group 0. Any of us might end up in group 0 for that matter. Do you think that if you recommend to someone in the 1st or 2nd group a product that suites someone in the 4th group, they would be able to automatically reach the 3rd group? no changes maybe? or worse? Or do you think a product that is specifically tailored to help them would work better?

What it is that separates group 3 and 4 from the rest? There are many factors involved but the one greatest factor of them all, is the 'Lack of Discipline'. How many products out there can actually help you conquer that factor and ensure you are well on your way to financial freedom? Ask yourself that question and see if the product insurers offer you today can be a solution to your problem.

I do understand that insurance doesn't cover everything. And i believe that insurance agent out there do suggest their clien or customer to set up an emergency fund of 3 to 6 months of their monthly salary instead something unexpected happened. Insurance agent are not as non ethical as you mention over here.. Just earning money and don't care about people. Although insurance agent earn high commission, but they deserve it don't they? They offer you services once u are their customer until forever. If you want cheaper insurance you can actually buy from bank or what... they definitely offer cheaper insurance.. But let me remind you, those working inside bank are just STAFF.. Lets say if something happen to you EG HOSPITALIZE and you need to do some claim right while you are on your bed right, do you think a bank staff earning 2k per month will claim for you? that is one point, another point is.. Will your bank staff still working there? I think it is enough for today.. Keep it on dreamers...

Please read carefully,I wrote  "at the moment when we needed most" . I didnt mentioned the return rates are guaranteed!!

recently i heard my uncle ( which is also an insurance manager) saying that, his client is withdrawing money for their children's further education...

the money withdraw = premium + interest + bonus...  which is accumulated all over the years, the effective rate of return is around 5%-8%...

When I first started working my boss advised me to buy personal life insurance. He said it is the first thing you need to invest even if your company is covering you with health insurance. Nowadays medical, surgical and hospitalisation fees is sky high.

If you have somemore extra money, he said you should invest in fixed deposits and if you have somemore extra money, trust funds. I know today the fixed deposits rate is pathetic but it will be handy in the event of emergency.

The last investment should be shares. He advised that never take money out from your insurance, FD, EPF or trust funds to invest in shares. You only invest in shares if you really can take the risks and have extra money.

2 Medical policies 
Having two or more medical policies is really useless. One is enough.
If you bought an ILP policy. This will not happen. You can opt for "premium pause" or use your part of your investment portion in the policy to cover up the insurance charges.
I also strongly suggest that you save up to 6 month of your living expenses for emergency. What you can do for now is try to insured your self at least RM30-RM50 a month. This could at least cover up incase of rainy days

You're boss is right !
All those medical,surgical and hospitalization fees are expensive. Protection comes first.
For investment, its up to individual.

INSURANCE IS THE BEST EVER LOVE LETTER WRITTEN BY A HUSBAND/FATHER TO A WIFE/MOTHER

INSURANCE IS THE BEST EVER LOVE LETTER WRITTEN BY A HUSBAND/FATHER TO A WIFE/MOTHER

I've no idea what u talking about, coz i only know mine is investment link and thats all i know...
I dont know about what higher/lower prices...
I just pay every month (direct debit) and thats all...

Didnt noticed anything about i can play shares?

tq,

pls guide me how to service properly, i can share with you your great ideas
tq

hi friends
i currently holding onli life insurance from great eastern

any others tat need for additional? 

wanted yr feedback
thanks