Wrong. 1st year the commission we earn is 40%. And depending on which type of plan, some we only earn 2%.
- What about management fees?
- Processing fees?
- No need to pay the customer service / underwriter... etc?
Consider this:
- Diseases are getting younger. More and more people in their early and mid 20s are starting to have heart attack, kidney failure and even breast cancer.
- You buy an insurance plan 1000/yr from age 20 till age 87 (maturity). You buy insurance plan 1500/yr from age 25-87 for the same amount of BSA. You do the maths which one is more.
- Medical card only covers surgery but not the cost of "organ" required for transplant (if required).
- Imagine someone just grad, came out to work 5 months, bought a kancil. Unluckily he had heart attack, bed ridden for 3 months. Luckily he has medical card.
a) Is the company going to give him 3 months paid leave or 3 months unpaid leave or worse, terminate his contract?
b) How is he going to pay his car loan? PTPTN? Monthly medicine fees (not covered by medical card)?
c) Can he still work in an environment with high pressure and long working hours?
- Worst case, Total Permanent Disability for the rest of the life due to disease or accident, how to survive for the rest of the life?
- Quotation is usually show 4% - 8%, and as Bank Negara rule, have to show a low return & a high return quotation. I'm not sure which insurance company show you 10% - 20% return. That's even better than most unit trust out there.
- Are your parents your dependent too? They may not be, but do you still want to add to their burden?
- Funeral also need money. Have you seen people asking for donation to have a decent funeral for their family member?

Do you know that Insurance and Charity have different rebates?
Have you actually declared your income tax before?

Claim problem,services..maybe the company is good but from my fren and relatives bad exp I rather avoid it then take this risk