Thanks for your recommendation, jeff_v2.

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Added on February 16, 2009, 8:19 amAnd thanks to you too, mtsen.
I'm much clearer now.

This post has been edited by goodyear: Feb 16 2009, 08:19 AM

for me, life insurance is for u to buy a peace of mind.. at least there is a sum of money there waiting when u need it... and hopefully u don't need it... u can try talk to insurance agent.. but bare in mind ur intention meeting them.. i'm not asking you to get 1 straight.. ask them to convince u WHY U WILL NEED IT... just get the point why then only decide u want it or not.. cause insurance can be package differently to different individuals...

as for traditional or investment link... i personally think traditional is better because it's pure coverage... low return but high coverage..

as investment side... i think u can invest for better return elsewhere... and more importantly... most of the investment link's premium which can be withdrawed is putted under "top-up".. ask ur insurance agent about it.. from what i understand is it's not included in ur premium so it wouldn't boost ur sum insured...

so it's better to differentiate it.. investment is investment, and insurance is insurance...

goodyear,
Your topic is merged with the original topic; so pls read through the discussion if possible if you want to know more on ppl's opinion.

It is YES, you should buy the appropriate insurance to meet your financial goals/objectives.

Why Insurance ?
1. peace of mind
2. financial protection from unpleasant events (e.g Premature Death, Permanent/Temporary Disability, Dread Disease/Critical Illness, Medical/Health-Hospitalisation & Surgical ...)

Insurance Planning/Risk Management (personal/individual)
1. Premature Death
2. Disability - Permanent/Temporary
3. Dread Disease/Critical Illness
4. Medical/Health-Hospitalisation & Surgical ...etc
5. Disability Income
6. Long Term Care

The fundamental of insurance is PROTECTION, however it can be used as saving and/or investment tools. e.g. for Children Education, Retirement, Mortgage ...etc.

Insurance Planning Process
1. Understand personal financial goal/objectives
2. Analyse the risk expoures
3. Quantity the capital/total amount needed
4. Assess current financial resources
5. Select the appropriate insurance products for meeting the needs
5. Review the insurance plan.

General Guideline for Risk Exposure
Personally, I think the Medical/Health, Dread Disease/Critical Illness is a MUST. For individual without much financial commitment and dependants, it may not be very crucial for Life insurance (Disability - Permanent/Temporary, Premature Death), but minimum term insurance is recommended. For individual with a lot of financial commitment (Mortgage loan, Car loan …etc), and dependants (Wife, children, parents …etc), it is a MUST. Disability Income and Long Term Care is not common in Malaysia.

There are many Insurance companies out there with all kind of insurance products and packages. My suggestion is to call some of the insurance agents/financial planner from difference insurance company and ask for proposal, quotation and advice.

Dear Mods,

On and off we always have members asking for Insurance opinions. Can we pin this thread?

Hi, everyone. Insurance is not a MUST but it is a NEED. We can still survive without it. But, if we and our family still want to live comfortably after some unfortunate events happen to us, then we should buy it.

I have written a number of posts about insurance in my blog. Please feel free to read my blog:

http://lokeaiaberhad.blogspot.com/

Please feel free to leave me a comment or email there to help me to improve my blog to help more people in dealing with buying the right and affordable insurance plans.

Thanks...

This post has been edited by lcl832002: Mar 4 2009, 09:51 PM

yesterday a friend of mine offered me to buy a link package with RM200 per month .

i would like to have some suggestion on how much it would this RM200 can cover to compare .

you may pm me please .tq

ps: i jump from page 6 to here . been reading other thread for hours tho -.-

Please proceed discussion in the insurance talk thread. http://forum.lowyat.net/topic/376228/+420

Thanks for the cooperation.