Nov 13 2008, 03:49 AM
QUOTE(cherroy @ Apr 5 2008, 11:21 AM)
Bare in mind also, there is some limit that you can claim from the insurance, particularly medical side. So better check it out before buying it. Yup, medical insurance somehow is quite essential nowadays due to sprilling up of medical cost. But buy appropriate insurance until you can afford, don't overbought insurance until you are not aware of especially for those with tight budget every month one.
Billionaires like Warrent Buffet and Bill Gates probably don't need insurance.
So may be that's true, insurance is not essential and necessary for those really really rich one. One month interest in the bank already worth millions, still want insurance to cover it?
I guess those billionaires are insured by their big corporations. If anything should happen to them, walla Billionaires like Warrent Buffet and Bill Gates probably don't need insurance.
So may be that's true, insurance is not essential and necessary for those really really rich one. One month interest in the bank already worth millions, still want insurance to cover it?
MSFT & BRK stock price will plunge. These 2 people are the backbone of their company, and nobody can replace them. Buffett is 70+ already, and I think he's gonna kong soon. Wonder what will happen to BRK upon his kong.QUOTE(cherroy @ Apr 5 2008, 11:45 PM)
Talk is easy as we know some insurance is somehow essential.
But in real life reality, things are not as simple as that when it comes to $$ term.
Really rich one doesn't need insurance, serve not much purposes anymore. Poor one, can't afford it, life is cruel sometimes, it is not a perfect world.
Insurance somehow better is a product that best suit for middle class people.
That's true in a way, but I still think people should have insurance. What if you're diagnosed with disease, the medical cost is high. Its always good to have insurance to cushion your own financial security. I also agree that insurance has its perks & tricks, no doubt about that. Sometimes, I'm also skeptical about insurance because they have so many rules & regulations that one has to follow before they'll pay your claim.But in real life reality, things are not as simple as that when it comes to $$ term.
Really rich one doesn't need insurance, serve not much purposes anymore. Poor one, can't afford it, life is cruel sometimes, it is not a perfect world.
Insurance somehow better is a product that best suit for middle class people.
QUOTE(xeNOS @ Apr 6 2008, 10:16 AM)
the actual use of insurance for (poor to middle class):
1) Protect their income.
2) Secure food on the table, shelter and clothes for their family.
3) Protect their hard earned money.
4) As a savings for retirement/child education
the actual use of insurance for (Upper and rich class):
1) Increase their business value
2) Provide a business continuation plan
3) Increase their assets
so, its on how we look at it... so if a person has responsibility (for himself and others) life insurance is a MUST! unless money is not the question.
Sweet combination 1) Protect their income.
2) Secure food on the table, shelter and clothes for their family.
3) Protect their hard earned money.
4) As a savings for retirement/child education
the actual use of insurance for (Upper and rich class):
1) Increase their business value
2) Provide a business continuation plan
3) Increase their assets
so, its on how we look at it... so if a person has responsibility (for himself and others) life insurance is a MUST! unless money is not the question.
QUOTE(bafukie @ Apr 6 2008, 12:57 PM)
Who ever said 'entitle to get insurance'??? im stating fact. The rich doesnt need insurance. They can afford to pay medical bills or watever bills that comes their way. Why wanna throw 30% of monthly payment to feed insurance agent when u can keep it and afford to pay in times of adversity. 
Well sometimes I think the rich should have insurance to protect their assets. Although they have enough money for medical bills, but you wouldn't wanna spend your wealth on medical bills right.Added on November 13, 2008, 3:51 amI would like to know what kinda of different insurance type are there in M'sia market. AFAIK, there are:
1. Investment-linked insurance
2. Personal accident insurance
3. Medical insurance
This post has been edited by P.I.M.P: Nov 13 2008, 03:51 AM
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