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 Insurance Talk V6!, Everything about Insurance

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ColdDasher
post Oct 10 2020, 04:30 PM

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Dear all,

are there any insurance companies in Malaysia that are mutually owned?


ColdDasher
post Oct 11 2020, 10:58 AM

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Hi guys,

do you have any recommendations on a life insurance or whole life insurance policy that lets you borrow money against the policy?

Meaning, ie, based on the cash value of the policy at that point of time, say, RM100k, they insurance with allow you to take a loan against your policy up to 80% - 90% of the cash value.

I have been told by an agent that no such policy exist anymore.

Thank you in advance!
ColdDasher
post Oct 11 2020, 11:59 AM

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QUOTE(lifebalance @ Oct 11 2020, 11:53 AM)
Those are known as traditional plans where you are required to pay back an interest on the amount you took out from your policy though this will sound alittle stupid to do so unless you have no choice and can't find a single dime in your hidden pillow case for even RM10 then maybe by all means take a loan from your insurance policy.

They still exist but not many company offers it.
*
Hi Keith,

Thanks for the reply.

Do you know which insurance company offers this?

For now i have checked Prudential, and they do not offer such Traditional Plans anymore.
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