Hi all,

Just wondering... am I paying too much or too low for my family's insurance coverage. Paying about RM1,250 per month for the whole family policies:
1) GEL life (bought 20 years ago), still paying... till end of my life
2) GEL life + some medical protection (bought 15 years ago), still paying... till end of my life
3) Prudential Investment link + med card + CI (bought 5 years ago), still paying... till end of my life
4) Prudential term (bought few months ago), still paying... till 10 years later
5) spouse's MAA life (bought 15 years ago), still paying... MAA says need to pay another 10 years... (my agent told me only need to pay 10 years, now need to pay up to 25 years )
6) spouse's GEL life + some medical protection (bought 14 years ago), still paying...
7) spouse's Prudential Investment link + med card + CI (bought 5 years ago), still paying...
8) daughter's GEL life + some medical protection + saving (bought 8 years ago), still paying... till she turn 18
9) daughter's Prudential Investment link + med card + CI (bought 5 years ago), still paying... till she turn 25
10) another daughter's Prudential Investment link + med card + CI (bought 5 years ago), still paying... till she turn 25

Average of RM125 per policy per month... not too bad, but the coverage not really much lah.

Feel free to advise and share your thoughts or mind to share how much are you paying...

Thanks.

This post has been edited by lowyat2011: Jul 13 2011, 11:30 PM

Hi chew_ronnie,



Thanks, really appreciate your input.

This post has been edited by lowyat2011: Jul 14 2011, 04:15 PM

Thanks again chew_ronnie.

I notice that my CI and death benefit coverage not really much, thus, I bought a 10 years term inssurance early this year and hope this help to cover a bit more before i retired (10 years later). I think the coverage only can last 3-4 years of living expenses for my family, as the children's education fund, perhaps, only can ensure them to go for local college...

Currently, I have commited to pay about RM1200+ per month, I think I need to double up the insurance premium (RM2400+), in order to have comfort coverage... but how can afford to pay more???

Life is short, enjoy every moment we have