I already tagged you in another thread so that won't be OT. Er I have seen enough insurance agent to know those I talk with only knows how to promote unit trust. Even some so call financial planners.

Er calculations I have seen don't show insurance is the best investment. Never mix investment with insurance. Also insurance is a risk transfer tool. You are paying the company to take on your risk.

And yes I walk the talk and don't just NATO. I already have the option to not work anymore if I want to. Everything I learn from financial bloggers. Had I listen to insurance agent or banks, I wouldn't be where I am today.

This post has been edited by Ramjade: May 26 2024, 05:45 PM

The blog might impress beginners, but for seasoned investors, it’s largely subjective at this point. There's only so much that can be discussed about fundamentals, technical analysis and strategies before it devolves into personal opinions..

Apparently you didn't get what I meant. Never mind.

And I’m all for improving and diversifying our finances across various instruments to gain an edge in the market, be it domestic or foreign.
But I'm completely disgusted by your constant belittling of insurance professionals, in an attempt to display superiority , that is just despicable.
Your arrogance and ignorance will blind you, hence I wouldn't recommend anyone to take you seriously here.

Btw, i think your blogger just proved your b.s., he's not doing NOTHING. lol

This post has been edited by jsonting: May 26 2024, 07:44 PM

Honestly I would trust someone more who don't take a cut from whatever he is promoting lol. Atleast there is no conflict of interest.

You must not listen to your doctor, your lawyer, or any professionals if that's the case....

One can be open, take advises from professionals or non professionals, and still make own decision after validation done.
All adult here.

The point is, no punching down is necessary.

How important it is to have a friend as the agent? Better or worst?
Looking for medical card and hibah

Just another day in Lowyat Insurance thread.

Keep em coming 🤓

That depends, some say better, some say worst.

If you trust them enough, then go for it.

Otherwise, seek out for strangers or professionals.

Not important, important you are able to get what you need.

For me, ...
It does not matter, as long as he or she provided me with unbiased, holistic information that really suit my need.

Friend can be friend
Agent can be friend
Friend can scam you, so are agent too

Look for one who is serious in building his/her career in the industry. So you know he/she will still be there.

All of them don't need to do anything already cause they got more than enough money doing nothing is the right thing. That's what I am doing also. Not doing anything except keep buying and reinvesting my money.

Agreed. When you got no conflict of interest, you got nothing to gain from your post. I think it's off topic already.

Avoid. Friend you will feel pity. Then you will let your emotion take over. Stuff you need to look for in an agent.
1. Not yes man.
2. Not pushy.
3. Tell you the cons of stuff you want to buy and not just the pros.
4. Not spammy.

This post has been edited by Ramjade: May 26 2024, 11:10 PM

I'm not gonna go down the road to continue this with you , pointing out flaws etc since it's way out of the topic of this thread.

All i need to tell others here is don't get intimidated by your seemingly knowledgeable talks.
There are people in the field who knows exactly what you're talking about and you're not entirely truthful as well.

But i'll leave it at that.

Just hope you can be more respectful and humble to some professionals in this thread.

bye

My POV with personal experience,

i recommend first having more than 1 or 2 agents around you who you can talk to.
That way you can have diverse opinions to form your own idea, before proceeding to get a plan.

As for the signing up,
I'd say it's not so much on the plan but rather, the service that you will get.
Since the plan you can research and vet through the policy fairly easy nowadays.

Having said that, i would actually recommend getting from someone not so close with you...

Unless that person is really really seasoned and professional with track record, otherwise, you risk losing a friend or a relative.
But i could be wrong, no one can say for sure.

I find it really amusing when insurance agents referring themselves as "professional" like doctor and lawyer.

I think it was meant to refering to as, all professional service providers need and will earn from providing their service.

Professional = engaged in a specified activity as one's main paid occupation rather than as a pastime.
"a professional boxer"

BTW, they hv to get qualified before being able to provides their service too

This post has been edited by MUM: May 27 2024, 07:56 AM

The qualification is so easy please don't compare them with doctor and lawyer la. Grab drivers have to get qualified first before providing their service too, but I don't see them calling themselves as "professional" like doctor and lawyer.

If they are professional careers, then I belief what he used to compare is valid.

BTW, i just found out, Grab do call their drivers "professionals"

This post has been edited by MUM: May 27 2024, 11:40 AM


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standalone will get renewed nowadays if you buy from the life insurance companies (those few pointed out by Ramjade), i think. I'm not familiar with general insurance companies, but i think they will renew. just read the contract. they do give you 15 days to read if not still can get cancel and full refund. the agents you approach is either inexperienced or not familiar, etc...

someone here mentioned, for standalone medical plans, if you can't pay on time, may lapse, etc... (same as 3000 other things in this world although not being able to pay 1 month gym membership is probably not as life changing as missing out insurance payment), while it's true, this day and age, with direct debit to credit card... i'm seriously not sure how this can still happen la. unless one is still so sceptical about the technology.

as for life coverage, is it important? if no dependents, it's really probably not very important. maybe just get minimal amount, to settle the funeral cost. most of them probably can allow as low as 10k. you can ask. but let's not forget the life coverage usually comes with TPD coverage. so it's not entirely just about paying X amount to your dependents. though TPD definitions are strict, there's where CI comes in more handy.

as for critical illness, due to my personal life experience, i find to be very very important. similarly to you, i have alot of good savings in my pocket but i dont want to be digging into my retirement savings while i'm recovering from serious illness. my personal life experience? i have seen cancer and stroke treatment being so devastating beyond hospital charges and the recovery is so painful that you want to have money around to spend and not worry. there are still restrictions to what you can claim from the medical plans, do read your contract, of course different companies will have slightly different T&C. let's say stroke treatment, most likely physio is key to recovery. how long the medical card cover the physio for, 6 months? is it only physio done at hospital only? i'm not medical expert, just giving random example. What if the physio takes >1 year. is there restriction that the physio must be done at the hospital? if you are lucky, the physiotherapist is good, ok la. if they suck? you go outside look for a physio or you want the physio want to come to your house cause you are not feeling well? and any special diet or medication to take care of that may not be covered by the insurance as well.

You want to have money for these situations. Money can't buy everything. but you can at least have one less thing to worry about. Can you save for such rainy days? of course you can. that also means you cannot use this money for travel, education. Insurance is a risk transfer. if you can absorb this risk, then good for you. you dont need to buy insurance policy from the insurance company. just like if you can buy a house with cash, you dont need to let bank earn the interest from house loan. but yes, i think my argument highly influenced by my personal life experience.

and to answer you, yes, Critical Illness can be 0 even if you buy investment-linked plan. Life is "compulsory" but can be kept at the lowest level.

This post has been edited by adele123: May 27 2024, 10:31 AM

I'm surveying medical card for my 5 years old son.

Don't think need Life Insurance or CI.

Standalone cheaper or IPL cheaper?

Many had said, standalone has much lower cost as you did not participate or subscribe to join their investment plan, which cost extra money.

But there are limitations and cons for standalone plan too