How long the term you want it to be?
What coverage you are looking for? 2D, 3D, with or without medical card?

2D means cover only Death & TPD
3D means cover Death, TPD & Dreaded Diseases (36 CI)

How many years depend on you, only you yourself knows.
Term insurance increases every year based on your age.

GE, Term Policy with TPD benefit (2D only)
Minimum coverage is 5 years.
40 yrs old, male, non smoking, class 1 occupation (office, non dangerous).
For 200k coverage, RM1238 p.a.

If you start the 5 years coverage at 41 yrs old, it is RM1304 p.a.

Yes it can be.
Anyway, for GE Term Life with TPD Benefit, 30 yrs term is RM2850p.a.

Require ME or not, is not up to agent to say. It is up to underwriter.
1. Are you married with children?
2. What's your occupation?
3. Have you been admitted to hospital? Reason?
4. Do you smoke?
Any few other questions.
Based on the questions, the underwriter will decide if you require ME or not.
Sometimes they might even have a lifestyle questionnaire for you, if you are over 40 and still single, if you work as saloon hair stylist.

Cover death and total permanent disable from accidents? Or only death?
Any exclusions?

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