How Hibah is related to insurance?
- Takaful is one of the way to leverage on to leave behind "hibah" to your loved ones. It cannot be challenged by any person or institution, making it a good instrument to guarantee your loved ones receive whatever amount you buy.

Why would someone use Takaful to hibah?
- because you can leave behind money that you haven't earned yet. You pay a fraction, but when death happens, takaful company will pay your family much higher lump sum than what you paid. e.g, you pay 1k/year, sum cover is 10k, so when you die, your nominee will get 10k as per agreed.


I wouldn't say any insurance is making money... cos when a person died, the family loss all the income possibility the person could earn if they still around.
So insurance is minimizing loss... not making money.

1) Yes, there is a chance that the total premium paid exceeds the total sum assured, typically this is possible for those who buy at late age. But depending on the plan, some will payout Sum Assured + Cash Value, some it whichever is higher.

2) Nowadays most insurance covers till 100 years old. The initial sustainability may be set to age 80, but still can continue till 100 years old. So chances are you will die first before you "burn" your premium, lol.

But let's the person really live past 100 years old, there are plans that will pay the total sum assured, and there are plans that pay just the cash value

Respectfully, i like to point out a blindspot in your statement.
It's not because you can earn 100K then you don't need to buy, the fundamental concept of insurance is leverage.

It doesn't matter how much you can earn, insurance CAN multiply your earnings, so when you die, you leave behind money that you would continue to earn for your family if you continue to live.

Also, you can earn 100K now doesn't mean you will continue to earn 100K forever, tragedy happens.

even the richest people in the world leverage on insurance, i'll be surprised if they are dumber that the financial blogger.

..... i think that's b.s.

if one have 2mil, he can use only 30-40% of the capital to duplicate another 2mil easily that will generate the so called free income at 5%/year. And the balance can be used to invest further to gain more capital.

the reason i say most likely b.s. isn't because it's impossible to have 2mil, but smart entrepreneur wouldn't let 2mil just sit and get mere 5% "dividend" when they can leverage on insurance to free up capital , and further increase their so called passive income.

And your assumption that agents aren't proficient in investing is why you can't comprehend with some sound and wiser advises i see in this forum.
As someone who's proficient and invested in many instruments that probably you didn't even understand, i can tell you the best investment return will always be from insurance, if you can understand what i mean.

Like i said
even the richest people in the world leverage on insurance, because that's the smart way.
so are you smarter than these people?

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

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.

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.

The quick answer is YES.
Your premium will jump very significantly as that's how cost of insurance spike at old age.
You will not have the luxury of getting offset by cash value since it's standalone.

But whether you will feel the pinch or not, depending on your financial status. (i believe this is what you want to know)

To dive deeper, repricing may work differently for various plans & companies as someone pointed out earlier, so you will never find the true ratio between ILP / Standalone.
Hence i will talk about the feel you will get which is more practical

If somehow you believe you are going to be a sustainable investor that can generate great ROI from whatever "savings" you got through standalone, then you may take that route.
Don't listen too much from Ramjade, he's only assuming everyone who follow his instruction will make good ROI.

Tell you the truth, same like ILP, there's no guarantee if you take standalone and do own investment you will be able to grow your portfolio fast enough to cover the spikes, not factoring medical repricing yet.
And not everyone is cut out for it.
That's why ILP is around for majority of people, just like UT.

This post has been edited by jsonting: May 29 2024, 11:49 PM

From my observation, this particular company usually has steeper repricing than average...

While i always believe insurance needs to be bought when one is healthy, but there's also the factor of financial stand point to be considered.
If you're young, getting as high limit as possible would be my advice as we need to use it decades later.
But if you're 40-50 nowadays, to be honest, if you use 1mil in a year.... chances are you're on the stairway to heaven already... so higher limit may not be necessary

Honestly, i don't have the details but generally the data is Singapore insurance being more expensive than Malaysia.

1) medical cost in Singapore is more expensive than Malaysia.

2) Malaysia insurance doesn't allow non-Malaysian to buy insurance without physically staying in Malaysia. Why is that i wonder?


So i don't know why one would say buying insurance from Singapore as Malaysian is better.......
If that's really true, maybe provide more data please

Mind to give the details of the comparisons, i.e product name, age range, payment period etc?

I'm not really sure as i honestly don't have specifics... other than the general consensus.

There you go.
I suspected so.
Hence, i rest my case.

honestly i don't have any apple to apple to quote for you.
Anyway I'm just making a point about the flaw in your comparisons.
And you have indeed proved what i just said.

Generally, insurance landscape in Singapore is different from Malaysia.
It is expected to be more expensive, and yes, term insurance is more popular in SG from what i gather.
Probably more options like your CI plan.

I honestly don't know any CI plan without cash value in Malaysia.
And like lifebalance said, it is absolutely unfair to compare apple to orange.

Your personal preference of not caring about cash value shouldn't be an excuse for a biased information, that's just wrong..

yeah, no matter how i try, it seems cheaper than his plan now that is clear it's a term product...haha

No wonder Malaysia don't allow Singaporeans to buy from us.