I'm from Great Eastern.

I'm not sure about people comparing the products. You guys should compare the agent as well.

Alsree, I'm not aware in Malaysia that it is mandatory benefits for staff.

It's just pure employee benefits, getting the staff morale higher.

@ Constant, you don't take out your life policy unless you really have to. However, you have enough liquid asset for 10 years. Do that means you are willing to sell those assets if you were to pass away? Do the yearly premium really create such a burden to your finances? In real world, the more money one have, the more insurance he is getting. Ask your wealthy friends how much insurance coverage he has. You'll be surprised rich people buy more coverage than low and middle income family.

Why?
1. Creditor Proof.
2. Emergency Cash (Policy Loan - create your own bank)
3. Proceeds and returns are tax-free
4. Create assets, instead of building assets


The company will suspect when you cancel and increase your coverage later, and query is normal. That is standard procedures. If you are healthy, that shouldn't be a problem.

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

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

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

@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!