Hello people,

I have a question.

Let's say I calculate (by using Excel) by retirement age I would have RM 1.5M in EPF a/c.

This retirement nest egg is on prediction that I am able to work without interference until my retirement age.

I want to buy an insurance product that can guarantee/assure me that amount should I am unable to work due to death or infirmary.

What sort of product should I get?

It has to be at the lowest cost.

Insurance agent... help pls.

Xuzen

No. I want an insurance coverage to match my potential EPF accumulation of RM 1.5M. This is just an assurance that should anything unwanted happen to me along the way, I have a second nest egg to fall back on.



So, any idea how much would the premium for a simple TERM INSURANCE for SA = RM 1.25M for 20, 25 & 30 yrs years.

Thanks,

Xuzen

i) Next b/day is 35y/o
ii) Office worker
iii) Non smoker

Xuzen

Ron,

Is term life something that is burned right if there is no claim. I mean there is no Cash Surrender or Residual Value right?

Xuzen

Hello Forumers,

Below is an Investment Linked Product for my daughter (next b/d = 3 y/o) that my Financial Planner proposed:

Prudential Investment Linked:

i) Basic Sum Assured - RM 150K, (Premium - RM 1,018.80 p.a.)
ii) Crisis Shield Plus (Dread Disease Cover) - RM 150K (Premium - RM 1,183.50 p.a.)
iii) Med Card (H&S) - Premium = RM 693.00 p.a. (RM 75K per annum, Life time = 750K, Daily bed = RM 200.00)
iv) Enhanced Prupayor basic - RM 104.70
Total premium p.a. = RM 3,000

What do you guys think?

Xuzen

The title on my proposal states PruLink Assurance Plan.

No Enhanced PruParent, it is stated Enhanced Prupayor basic.

I agree with numbertwo, the SA is a bit highish for a child. I shall have ask him to reduce it min whilst maximizing the unit trust contribution.

Xuzen

Since there is a medical component in this proposed plan, I can still get the RM 3K tax relief under medical right, even if the insured is my child and not myself?

Xuzen

One of the principle of insurance is "uberima fide" latin for upmost good faith.

This means that the insurer take up your risk in the understanding that you "the insurer" has disclosed all the relevant information in good faith.

If you did not, then the insurer has the legal right to contest your claim in future.

That is a very unfortunate scenario.

If you are have high risk, then pay the loading and still get yourself covered.

This is better than having pay your premium all the years for nothing when the insurer contest your claim.

Xuzen

I have receiving news that insurance companies are reducing their cost of insurance for Investment Link.

What is going on? Any Agency Manager can "ahem" give some insider news?

Xuzen