when he's retired at 55, there's so limited amount of plans he can buy plus the premiums will be darn high

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Added on April 17, 2007, 11:39 ami)Can you afford premium of 100 years old? Medical insurance premium at age 70 is enough to kill ur retirement fund

ii)insurance that companies provide are always at a very minimum cost, which means the coverage is very little, with the rising medical cost every year, i think better have a contingency plan, isn't getting a good medical coverage a form of investment?

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Added on April 17, 2007, 11:53 ammedical insurance is eligible for medical tax relief of maximum RM3000
so if under company account, no personal tax relief lo

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Added on April 17, 2007, 11:54 amtrue
don't commit to something that you can't afford
pioritize your goals first

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Added on April 17, 2007, 11:59 amhi argiope
UGPM

This post has been edited by nicholas84: Apr 17 2007, 11:59 AM

1)in which sentence you notice that anyone is selling? It's merely underwriting fact

2)So you're saying, wait until sick only buy? isn't that too late?

3)True, but if no plan for retirement lagi tak payah harap to retire, so what if we live to 55? continue to work? beg for money? Do we realy want to rely on our children to provide for us? Parents had headstart in financial built, children hasn't, to support us, they burden themselves a lot especially with rising cost of living

4)That is why retirement planning is important

5)Emergency fund is necessary for at least 3-6 months of their monthly income, that is if they're healthy, as long anyone is healthy they have no problem getting a job unless they have attitude problem, therefore if your're jobless and currently having a high coverage, downgrade it to lower one but do not completely delete it, being hospitalized during unemployment is the worst

In my experience, running out of job is the least things to happen in someone's life, if we're constantly facing this problem, i think we need to reflect upon ourselves.

So when you're unemployed, does the company coverage still covers?

Critical illness strike a person from infant stage up till old age, at age 55, let say kena cancer, so while waiting for the doctor to produce the report to file claim to insurance company, we use our own hard earned money which is meant for retirement to pay for hospital bills?

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Added on April 18, 2007, 12:35 amprojected return is never guaranteed

This post has been edited by nicholas84: Apr 18 2007, 12:35 AM

1)don't experience told by our fore fathers counts? don't it count as exp when my dad lost his job as a manager is a well known textile factory? and how he lost his job again in a auditor firm? When he lost his job, all siblings has to stop college a while to work full time to support family, doesn't that count as exp? i may be young but i know what i've gone thru

2)Are we seriously spending 80% of your salary on insurance premium? no rite? normally is only 10%, how can we be starving?

3)I thought that is general knowledge? pardon me for assuming

1)he lost his job for almost half a year, yes he had emergency funds and all of us went out to work to slow down the fund depletion process and yes he has coverage for life, critical illness and hospital, during that period he maintain his protection and cancel all ours

2)i'm aware about that, but i don think you can blame insurance for this, it doesn't take a rocket scientist to know that emergency cash flow is always needed, anyway is only a handful of this kind of people who fail to pioritize and plan

3)it think it is, saving money has been taught since young by our parents, i don expect to walk into a restaurant and expect the chef to teach me how to use a fork

pardon me, but can you explain more detailed about no pure disability insurance?