what is surgical & hospital benefit got to do with legal suit fren?

I lost my job. That means I am running on my reserve tank. But, luckily my reserve tank is quite ok and can last 10 years. However, I feel there is no point in using up extra funds unless absolutely necessary. I am trying to CUT DOWN all expenses. In 10 years time, no one is dependent on me for a living. Can I discontinue my life insurance? By the way, I do not foresee employment that soon.

i reckon as implied by Colaboy above, GHS and Public Liability are separate, but thanks for your input anyway.

do u really need a medical card coverage up to 100 years old? is it necessary? doesn't the cost of insurance increase more after 80?

from my personal point of view . . . get a H&S plan that covors up to age 80 will be good enough

Hey Constant,

You do not lost your job. You are given a better opportunity by the god. What you need right now is to open your eyes, see it, believe in it and receive it.

When you search the internet, there are tonnes of business opportunity. You can become the boss now. And give people employment, instead of asking for one. Some can be started with low capital.

You are lucky to have this things happens to you, as you now can truly decide on what you want to do next. No more obligation to serve a company.

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Added on October 12, 2009, 11:21 am@ Constant,

On the insurance,

Insurance is not for yourself only. If at that time you have no more dependant, you can still pass the proceeds to the unfortunate one and help them to build their lives.

And since you do not have any income now, the life insurance might be far more important than ever. I'm not sure if your term life is covered with CI or disability but if that to happen, are you willing to risk spending your 10 years reserve to get you back on your legs?

I think you mentioned you have your H&S and Critical illness, but I suppose that 2 are separate from this term life that you intend to drop? If that is the case, then if something were to happen, how this term life can help you?

If it won't help you at all, then you should seriously considering dropping that to free up some expenses.

And your problem with no job is only temporary.

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Added on October 12, 2009, 1:00 pmJust posted on another thread.

How much Insurance do I need?

Use the calculator I posted. If have any bug, do let me know.

http://forum.lowyat.net/topic/1191591

This post has been edited by Vitorbarbosa: Oct 12 2009, 01:00 PM

just wta, how do i become a general insurance agent? I already completed the PCEIA, and now im going to join a insurance agency company...does that make me an insurance agent? must i complete the 20 hours CPD every year?

You do not need to complete CPD hours in first year.

To have your license for general insurance, you need to take another exam.

Hi Victor,

Yes. The CI and H&S is seperate from the term life. i am confused by your opinion. First, you say term life could be more important now since I am unemployed. Then, you say, it might not help me and maybe consider to drop it to reduce expenses. I am thinking along the line of the latter. I think the term life will not help me much because if I drop dead suddenly, my reserve funds is enough for my family for more than 10years because I am no longer in the picture(family spending less). If I fall sick, then H&S and CI will help to cover. I might increase just a bit of CI and then drop the term life. What do you think? Like you say, i am more concerned about medical expenses when I am alive compared to when i am dead. Just want to make sure I have not overlook anything. I am trying to cut down my unnecessary expenses. of course, if cash flow is not a problem, everybody will agree having more insurance is better than less.

@Constant

I'm not sure how much is your term life premium. I personally do not think that your term life insurance will cost much distraction to your cash flow.

Want to ask, why do you buy the term life in the beginning and why on that term?(20 years, 30 years?)

I'm sure without job is only temporary. I'm sure you can find better opportunity right now since you are no longer employed.

You are free to choose what you want to do now. Enjoy this moment.

Good luck!

ah, typed too fast without think
my bad.
Some company buys public libility policies for their stuff one.

This post has been edited by storm88: Oct 15 2009, 12:46 AM

what is the passing mark for the life insurance PCE exam? (A & C)

how much is a basic insurance of 55-75k?

welcome to insurance ^^ lol
must at least get C ^^ how much is tat? i dunno >.<'' last time went vf fren all get C ^^
all da best


you mean sum assured 55~75k? what policy u are looking for? medical coverage/critical illness?

This post has been edited by morning06: Oct 15 2009, 02:06 AM

am looking at a medical insurance scheme, was wondering what's the difference between having a "hassle free" and one which gives me a medical card? Hope someone can help me clarify this...

What u mean hassle free here?

Are you talking about an insurance package that is just protection plan? Please elaborate more.

'Hassle free' = medical card = 'cashless' as oppose to reimbursement policies where you pay the medical bills 1st then claim back from insurance co.

Of course medical card policies are better but it is expensive (50% to 200% more then reimbursement policies).

Oso medical card can only be used in the ins. co.'s panel hospitals (some ins. co have very limited panel hos) while reimbursement you can go to any hospital since you pay 1st as if no insurance.

Hi all,

I was wondering if anyone can advise on the following:

1. I would like to find out how much a reducing term life insurance would cost. Assuming the following parameters :
-> 100% protection only, ZERO cash value, ZERO returns, ZERO savings
-> Sum Insured RM1 million
-> Reducing term over 25 years or 30 years
-> 35 year old male, non smoking
-> Option to include critical illness cover (payout if diagnosed with the critical illness)

2. Children education insurance
-> Are there products which insure the life of the parent instead of the child? i.e. if the child dies, no payout but if the parent dies/TPD then payout to the child
-> If insuring the life of the child, min sum assured e.g. RM10k or 20k or whatever lowest possible value
-> Maximum premium per year RM3000
-> MUST BE income tax deductible (education insurance RM3000 tax relief)
-> No medical card, maximum participation on company bonus or returns (but yet, not ILP)

Appreciate if anyone with info/experience out there can share.

Thanks!

This post has been edited by poolcarpet: Dec 21 2009, 01:52 PM

I am looking for 500k death, TPD and CI coverage.

Anyone can help? I prefer term coverage

claim by insurance agent in support of ILP (looking for opinions or rebuttal)

1. the plan is ILP by name only - only small portion (<10% is put into funds)
2. the plan is all in one (3D + PA + some income replacement) for convinience
3. the medical card included is guaranteed renewal with no premium increase (ever)
4. cost comparison between this plan vs tradtional plan + traditional medic + traditional PA is only ~20-30/month
5. for this extra 20-30/month you are getting some income replacement/surgical/outpatient payment and a guarantee renewal no premium increase medic card which traditional medic dont offer.
6. fund from investment is planned to be used to cover premium incase you get laid off or when retired (so no need pay still can continue plan)