Get insurance when young and healty. Premium increase as age increase. PA covers only accident. Howbout medical?

If u kena denggi, go hospital also need to spend RM3k.
Rm 200 cheaper or RM3k?

What if its other illness?
If RM200 is too much, you can probably ask ur aunty to reduce it to ur comfortable level at the moment. (If its ILP)

Why do you NEED accident insurance?? In most cases, if you have a job, you are covered.  Ditto for medical.

Dreamer

ZiyiIsmyIdol,

You should thank me.  I am teaching you more about insurance.  USA has a lot more financial consumer protection and education.  So, people are MORE well educated.  If you can DEAL with me, then, you can sell insurance to people that moved back from oversea.

Actually, I am a very easy customer.  I know what I want and how much I want.  I can tell you exactly what kind of information that I need and whether you can sell to me or not.

All,

A basic personal financial tenet is a person need to have 3 to 6 months of expenses saved in a bank A/C or FD.  This is his/her first level insurance to cover all his/her emergency.  Even if a person has insurance, it takes time to claim the insurance.

It is arguable whether a person should buy insurance before or after he/she build this emergency fund or concurrently.  But, if a person buy so MUCH insurance that he/she does not has anyway to save for emergency fund, he/she is buying TOO MUCH insurance.

1) Do young graduate with NO dependent and staying with parent should buy life insurance??
My basic rule is if the young graduate is supporting the parent, the answer may be yes.  If not, the answer is no.  The basic reason is the death of the person does NOT represent any financial loss to the parent.

The person should build a 3 to 6 months emergency fund.  Those money can be used to cover many many more emergency than whatever the life insurance cover.

2) Do retiree need life insurance??

It s all depend on whether the person has retirement income that based on whether he/she is alive.  If not, there is NO income loss from the death.  If a person wants to buy life insurance to cover funeral expense, he/she should buy enough life insurance to cover those expense.  That is all.  DO NOT BUY TOO MUCH LIFE INSURANCE.  A person should buy MORE medical insurance if he/she has money.

Dreamer

This statement is a misleading one, they normally state as projected return when you buy the insurance and the actual return rate is depended on the insurance company investment performance.

I am not arguing that insurance is good or bad, since different insurance with different policy has its good and bads. Just to point out some fact that insurance buyers should be aware off. The returns rate is depended insurance company investment performance, if their investment perform well then surely they give extra bonuses in it while if their investment is suffering then surely return rate is low.

FYI, insurance company did invest significant amount in stock market, bonds, as well as companies that's where their returns come from.

jhan_ong,

Ask questions instead of posting this kind of message.  What is GE?

Dreamer

dreamer....i dont think there is a choice by not buying MRTA. u have to get it from the bank.... no choice unless u get loan from insurance company.... if from bank, they will get it for u... compulsary rite? i dont really know the payout scheme.... but how also.... i better get my own insurance topped up... u know how banking works... SLOW...