Always buy investment-linked insurance product for its PROTECTION, not return as it will be low bcos of insurance fees included. Normally the return would be what-u-put-in-is-what-u-get-back. Its good in terms of protection since they give u medical n life coverage.

But if u wan a return almost same of FD account in bank + insurance coverage, go for life products. There is no cheap or expensive product. Just remember what u pay is what u get.

I tought i read that article in TheStar.. they were actually selling unit trust..not insurance

BTW FYI, i hav a fren who bought investment-link a good 10 years ago. He hav put in total 18k. When he check how much his return, its only around 6k. So it suk.
Go for traditional product. Go go go!

I'm an agent n u say i dunno?
But still this is high trust selling and we need to be honest with clients and prospects. Its a long term business.. not short term. Tak kan i wan many ppl to chase after me 20 years later saying they lost lots of money? U say our commision is HUGE u come and do lah.

Investment-linked products meant for protection purpose as like traditional products. Not for 'investment' . There are many other better investment products.

Do u know there are more insurance charges for monthly premium payment? U wouldn't b able to see it bcos u tought u r paying same premium e.g. 1 year pay rm1200, one month pay RM100.

However, ur monthly premium absorb more charges, hence at the end of the day, you lose.

Personally i don't like unit trust as the income u get is taxable

dreamer101, when u say i contradict myself, what i meant was investment-linked product is good for all-in-one protection including medical card (for me the top benefit). I buy this product bcos it satisfy this needs. Not investment needs.

U wan to invest in this product for its return then by all means go ahead. It might be ur 'top benefit'.

Different ppl hav different views. There is no right or wrong.

Everybody hav different resons to buy any product. There is no one ULTIMATE reason. If there is, i oredi gazillionaire lahh....

I sense that u have a thing against insurance agent., don't you?

Yes you are right when u say insurance is just a protection for ur family if misfortune happens to you. That is the foundation of an insurance product. But market nowadays demands more than that. That is also why there are many other useful features that can satisfy certain needs.

Hey why does a person buy a car? For the basic need of travelling from point A to point B. Then why does a person buy car with aircond, cd-player, leather seats, turbo engine, big spoiler, etc... when all he need is a car to travel?

Its call evolution.

If u like to compare US and Australia and other countries so much to ours, here.. this link can provide all the answer u need.

http://www.iii.org/individuals/life/

I suggest u read b4 u post again. Bcos u might ask another same thing which this link provides the answer.

Oh btw don't ask us to provide an exact return. Everything depends on market performance. Even bank FD depends on what interest rate set by Bank Negara.

If you read earlier reply, I have already mentioned that I AM AN INSURANCE AGENT.



We do tell. I do tell. Probably your agent don't.
Intangible and tangible products are sold vy differently. Intangible requires high trust. You do not trust insurance. Don't buy.




If you salary is 30k annually, in 10 years (provided no incremental) u will hav work ur way to 300k. If you cannot work tommorrow for the rest of your life, how long do you WANT to survive? How long CAN you survive with ur savings now?




Its our job to make sure they understand. If you do not understand what you have, then either your agent did not do his/her job well, or you choose to be ignorant.



SMART customer stays with a HONEST agent for life. Its what we want.
Pretend-To-Be-Smart customers are those that got burned by smart DISHONEST agent.
Who's fault was it first anyway?


If you want a clear example, lets take you as the example. Tell me your age,your sex,your annual income and what coverage you want(life, critical illness, disability,medical, PA). There is term also if you want. I'll post it here how much u need to pay, what u are getting, what is projected return (high n low).

Black and white. Show to public.

dreamer, there IS disability insurance. They pay u even when u don't work for a week bcos kena denggi or chicken pox or whatever that put u out of work, temporary or permanent.

U asking me to list out what insurance protects and what it doesn't? well boy there are so many types of insurance and many can be customize. There is no ONE answer. Like seeing a doctor, u got cold, they give u cold medicine. U got cough, they give u cough medicine. It still depends on YOUR needs, YOUR problem. Yes everything has its limitation. No ULTIMATE product.

Do you find any ULTIMATE handphone? Do you find any ULTIMATE car? Do you find any ULTIMATE char kuey teow? If you find any ULTIMATE product, please do list it here. I wan to have one.

Dreamer,
Do you know what is concept selling? Think outside the box please. And i tought u r a 'dreamer' zzzz....

Example again...a car.
Real purpose = travel from point A to point B.
Why do some ppl put turbo in their car?
Other purpose = Can travel fast with style.
Why do some ppl buy MPV?
Other purpose = Carry heavier load
Other purpose = Safety features.

I bet u r not in sales.

Hughie,
Do clarify with the agent that the return is only a 'projected' return and not guarantee. If she says guarantee, ask her come see me i oso wan to buy. If you want SAVINGS and protection, go for whole life policy. Investment-link only serve for big protection + medical card.
In whole life, there is a guarantee portion for your return, hence the savings u get.

Its our job to ADVISE and RECOMMEND. Its up to the ppl to take it or not. And most of the time we are selling our SERVICE. We probably serve you for the rest of your life or our life. It is not a one-time deal. It is a lifetime deal.

U know how much it cost overhead to keep the business running? With petrol and toll rising everyday other month? U know how many errands we need to run?

U keep repeating we are laughing all the way to the bank. Go ahead save all your money in FD. The bank is laughing in their bank.

You are a non-believer. No matter what facts and data i show to you, you will not be satisfied. I've posted the website url for anything on insurance. You've choosed to ignored it.

I've wasted enough of time in this. So to anything you will post again here, my answer is 'whatever'.

To those who are reasonable enough and wanted to know more about insurance, do post your question. Will try my best to answer.

PS: This is strictly my opinion, might not appear to be general opinion.

2 years ++...

Your job is to work and take salary as high as u can coz u also need to live rite?

Alot of upper/rich class ppl buy insurance bcos its estate is creditor-proof. Also bcos the return is tax-free.

Ok to help all the agent provide better understanding of customer's need, I hope everyone that browse this topic who hav bought insurance, mind if you state the MAIN reason u buy it and why you bought from that particular agent.

This will educate us, the agents, to explain the importance of insurance to customer. Thank you!

Howcome my company got sell TERM life insurance and also REAL and COMPLETE disability insurance as u have mentioned not available in Malaysia?

Hmm.. i'm in Malaysia. Is there another Malaysia?

U r saying tax rate on msia is low n vy few rich ppl? u r not.. go out n check out how many bmw n mercs on the road. U say they got good accountant? yea to make sure they pay their taxes well. I know of a high ranking tax-collector. He'll make the big fish beg on their knees to offer them a reasonable solution if these fishy didn't pay tax.

And hell yeah there are Term Insurance in Msia. I would have post it here and the website too... but i'll be advertising or promoting my Company aren't I?

Unless the moderator agreed to let me post it. Go go go!

Or if you are really keen to know, then PM me. I'll reply when I'm free.

Hah sorry ha there's no mentioned vy few rich ppl.. wat to do 3am not yet sleep blur blur liao...
Well in Msia for a person earning RM100k annually, he/she will be taxed 27% of income. Source http://www.hasilnet.org.my/english/eng_NO2_1_1K.asp

Having to pay rm20k plus annually.. thats kind of high! A fresh graduate only earn that in a year! Stop comparing Msia to other country lah since we are living in bolehland. Otherwise just imigrate imediately!

Oh insurance is also tax deductable, and the receiving is also tax-free.

Woohoo buying insurance is tax deductable including for your children

Zarth i know what company u r from! hehe... I'm ur competitor.. I don't represent largest in the world, but largest in Msia.

Malaysia Boleh!

[Geminist: Double posts merged]

Rich ppl they don't buy insurance for protection. They bought it for other different factors such as for key-man insurance, or for its creditor-proof feature etc etc.

That is why i said different ppl buy insurance for different purposes. U kept pressing that we should only emphasize on protection. Protection is one a key feaure. Some ppl buy it for other minor feature.

Don't say rich ppl dont buy insurance. I known ppl that pays 20k to 80k anually jz for insurance! There are also few that pays 200k to more than 1 mil for a lump sum payment!

Now these rich businessman are SMART consumers bcos most of them are self made millionaires. Now are we so smart to 'con' them into buying insurance?

Ya know, I'd like a chance to meet u up dreamer and show you the term insurance so tha we can study together. You can tell me all the negative things about it. Its good to gain more knowledge. Whatdaya say we meet next year January? this month hav to rush for production...

Your argument holds true for those earning below RM100k. You win.




Sorry la i only learn about insurance.. and not other thing....Perhaps you knowledge on tax deductables can enlighten me and also those that doesn't know?
Would you mind to post the better ways? I'd like to learn

USA! USA! USA! USA! USA!

With all the replies jumble up.. its geting pretty confusing here... so mind if we can make this a dialog? Instead of long replies?


As I understand, here's the whole thing dreamer is comparing with (do correct me if i'm wrong) :


1: Investment-linked products VS Unit Trust

2: Whole Life products VS FD

3: Msia Term products VS USA Term products

My opinion :

1: ILP sells on protection needs more than investment needs.

2: There r whole life products which offer way higher return than FD with minimal protection

3: What country are we living in?