Mar 7 2009, 12:36 PM
QUOTE(g00glesYYl @ Feb 14 2008, 05:41 PM)
ok. i am 25 yr old.
my friend apporach me to invest in ING investment link plan. This plan include the insurance plus the investment.
She say, pay RM150 per month, you will have the coverage of
100,000 - life insurance,
100,000 - pa,
100,000 - diagnosis major illnesses.
10,000 - total & permanent disability.
then some investment income.
the first 7 yr will be partial insurance and investment, the 8th yr, all you money will go to investment. then, u can get back more money after 7 yrs, of course the investment is perform good at the first place.
They offer min 2-9% of return.
what to yo think?
my case is, if accept the offer, rm150 + rm50 (medical card). Do i over-insured?
Make sure your PA is at least twice your D&TPD's amount. If your company has good medical benefits, just take the minimum medical card coverage.my friend apporach me to invest in ING investment link plan. This plan include the insurance plus the investment.
She say, pay RM150 per month, you will have the coverage of
100,000 - life insurance,
100,000 - pa,
100,000 - diagnosis major illnesses.
10,000 - total & permanent disability.
then some investment income.
the first 7 yr will be partial insurance and investment, the 8th yr, all you money will go to investment. then, u can get back more money after 7 yrs, of course the investment is perform good at the first place.
They offer min 2-9% of return.
what to yo think?
my case is, if accept the offer, rm150 + rm50 (medical card). Do i over-insured?
Added on March 7, 2009, 12:40 pm
QUOTE(lcl832002 @ Mar 7 2009, 02:59 AM)
I don't recommend someone to buy investment linked plans (ILP) because we are the ones who bear the risk, not insurance companies. When we buy insurance, we want our risk to be transferred to the insurance companies. ILP can't achieve this objective. However, I never say that ILP is not good. It is just that you have to take the investment risk when you buy ILP.
For ILP, if the insurer go kaput, the SUM ASSURED is guaranteed by the government, but not the CASH VALUE. That is the con for ILP. But try and do a comparison for the same coverage for ILP and conventional insurance, you will see that ILP costs abt 20% less.This post has been edited by meejawa: Mar 7 2009, 12:40 PM
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