Top 10 reason to buy life insurance

We spend money to buy something for the satisfaction of possessing it. But life insurance is a product we can’t see, can’t touch, and probably can’t enjoy it either in our lifetime. Why should we buy life insurance then?

Protect your wealth

This is the main reason people buy life insurance. Nobody likes to see his hard earned money all swept away in diseases related disaster. We work hard in our whole life to increase our economy value. There is no guarantee that we can enjoy a long life to realize our economy value. Only two things are certain: tax and death. When death arrive sooner that we thought, life insurance will be our wealth creation tool to instantly generate the cash we could have earned.

Show your love to your family

“We love because it’s the only true adventure.” – Nikki Giovanni

Love is indeed an adventure. Our life is an adventure too. It is full of risk. We can show our love in a thousand ways when we are still around. But when we die, how are we going to love our family? At least, life insurance can take care of our family’s financial well-being.

Show that you are a responsible person

Did you ever notice that most of the victims who died in road accidents didn’t buy life insurance? I can say most of them have none or buy only a tiny sum assured. An irresponsible person drives recklessly and carelessly almost all the time. If you are a responsible person, you will care for others. Certainly buying adequate life insurance shows that you are responsible and trustworthy to your spouse, your children, your parents and the one you love!

Our health is deteriorating everyday

Do you know anyone who is getting healthier everyday? By the time he is 100 years old, he is at the peak of his health condition. He can live on forever! Gosh, people are getting older and this is an undeniable and unstoppable fact. Our health is deteriorating every minute. We never know the exact time a disease will strike us. Fear of illnesses motivates people to buy life insurance.

Practice the habit of forced saving

When we face the shortage of cash, withdrawing money from our life insurance policy is always the last resort. In the fear of losing the life insurance policy, we are forced to make the regular premium payment. In the long term, life insurance is a great saving tool. It forces us to save for the future, and also for the unforeseen disaster.

Funding a trust

A trust is an arrangement under which one person, called a trustee, holds legal title to property for another person, called a beneficiary. People create maintenance trust to provide regular income for family. The cheapest way to fund a trust is using life insurance. The cost of premium is only a few percentage of the trust fund we intend to create. For instance, paying premium of $1000 annually is able to get a life insurance policy worth $100,000 for a person below age 30.

Funding a business operation

An employer takes out an insurance policy insuring against loss of profits arising from the death, sickness or injury of a key employee. The beneficiary is the employer. The life insurance policy bought is known as key-person insurance. The insurance payout will be used as emergency fund for business operations. 

Funding Buy-sell agreement in partnership business or corporation

Every co-owned business needs a buy-sell agreement the moment the business is formed or as soon after that as possible. Every day that value is added to the business without a plan for future transition, it increases its financial risk. What happen if one of the partners decided or forced to exit the business? The most common triggering events are dispute, death, disability and retirement. Life insurance can be used to fund purchases of the deceased shares in the event of death.

Charity

A charitable trust is a trust established for charitable purposes. Charities may take the form of charitable trusts, companies or unincorporated associations. Some wealthy entrepreneur buys insurance to fund their charitable trust.

Insuran kemalangan memang nampak lumayan manfaatnya tapi persoalannya, perlu ke ambil?

Ramai orang membazir RM30 – 40 sebulan mengambil insuran kemalangan. Daripada anda membazir wang anda sebegini, lebih baik masukkan dalam unit trust yang memberikan pulangan anda 8 – 20% setahun.

Insuran kemalangan yang dimaksudkan memberikan manfaat ini apabila pemegang polisimengalami kemalangan. Skop kemalangan itupun kurang jelas, mungkin berbeza pada setiap syarikat. Kena baca dan faham polisi anda betul-betul dahulu. Antara manfaatnya:

1) Lump sum payment beratus-ratus ribu sekiranya meninggal dunia atau TPD.

2) Elaun hospital

3) Bayaran ambulans

4) Claim perubatan

5) Pendapatan kalau TPD

KENAPA INSURANS KEMALANGAN MEMBAZIR?

Sebab utama saya cakapkan membazir adalah kerana semua manfaat ini hanya boleh dituntut sekiranya berlaku kemalangan.

Kalau anda jenis yang kerja di pejabat, memandu kereta dalam bandar tiap-tiap hari traffic jam, memang mengarut sebenarnya untuk ambil plan ini sebab risiko anda untuk mengalami kemalangan yang boleh menyebabkan kematian / kecacatan kekal adalah sangat rendah.

Kebanyakan insuran kemalangan adalah polisi tradisional yang bukan investment linked plan (ILP). Jadi apa yang kita bayar 100% tiada manfaat pada kita kalau tidak dapat claim daripada polisi ini.

Memandangkan kereta zaman sekarang semuanya menekankan ciri keselamatan yang hebat-hebat (ANCAP, 7 airbag, VSA dan macam-macam lagi) adalah sangat rendah risiko anda untuk menghadapi kemalangan maut atau kecacatan kekal akibat kemalangan.

Walaupun insuran kemalangan murah, namun duit yang dibelanjakan untuk insuran kemalangan ni lebih baik disalurkan ke tempat lain seperti simpanan bulanan atau naikkan kadar perlindungan kematian dan penyakit kritikal.

INSURAN KEMALANGAN UNTUK SIAPA?

Walaupun begitu, insuran kemalangan ini masih releven kepada beberapa golongan tertentu sahaja. Antaranya:

1) Individu yang bekerja di kawasan yang berisiko tinggi sebagai contoh pelantar minyak, tapak pembinaan dan mana-mana pekerjaan yang dah memang sedia maklum bahaya berdasarkan sejarah kes-kes yang pernah berlaku.

2) Individu yang mempunyai hobi berbahaya seperti lumba kereta atau konvoi motosikal berkuasa tinggi.

3) Mereka yang tidak mampu untuk memiliki plan Takaful dan medical card.

Bukan semua orang memerlukan insuran kemalangan. Jangan terpedaya dengan tawaran manfaat insuran kemalangan yang lumayan.

ALLIANZ PREMIERLINK

Dear  friends in Melaka area,
Just to inform that Allianz has just launched a programme called Allianz PREMIERLINK which offers RM1,000,000 Life / TPD coverage from RM300/ month only. (Estimated based on 35 year old male/ female).

The best part is no medical check up is required if you are below 50- year of age.


Call me at 0123700352 if you need more information.

Zainal Abidin Ahmad

Prudential cheats

Prudential BSN Takaful is cheating customer Eventhough they agreed to return all the payment made to them, still they have already use our money to invest for the 4 years period amounting to RM17,400.00. Prudential oh Prudential The IJN doctor has stated in the claim form that I had a hypertension since 1995 Prudential had asked me to forward a form to the Doctor that treated me in 1995 By the way the doctor was not there anymore as it was already 17 years ago So, the present doctor verify that I took medication since then Due to that, Prudential claimed that I did not declare that I had hypertension in my proposal. Hey, wait a minute. The question was never raised by their agent when signing me up.

Prudential never bother to check the accuracy of the proposal. They are interested in getting my money for 4 years and on monthly basis, I thought I was adequately covered.  But instead, they try to find all kind of reasons not to pay me even if their agent is at fault.

Consequences,  I was not able to find other insurance to cover me as I have already had medical history.

Prudential cheat

Having contribute for Prudential BSN Takaful Medical Card for 4 years, I claimed for critical illness after  CABGS from Prudential.

The doctor reported that I had hypertension since 1995.

After seeing the report, Prudential asked me to obtain the Doctor's report when I first diagnosed having hypertension. That was way back in 1995.

I called Klinik Bandar but the Doctor was not around any more.

Then I requested a Doctor that attend to me in 1997 to write the report.

What I am complaining is that Prudential use the 1997 Doctor's Report to pin me stating that I did not declare my health when I first took the insurance. Honesty doesn't pay, isn't it.  

The agent did not show me the health declaration form.  I assumed that he marked the report himself without my knowledge just to get his commission.  Secondly, Prudential did not even check with me whether the declaration is true or not. (Just like the bank verify those apply for personal loan to ensure the applicant is a genuine applicant)

By rejecting my claim and terminate my policy, Prudential has shut the door on me to apply for other medical cards because it is now too late.

Pos Laju - Please Beef Up Your Services

 

The Truth About Pos Malaysia

I had the opportunity to wait for an hour just to get my parcel at the Pos Laju counter of the KK Post Office last week. It’s not my first experience, but it was an eye-opener.

There is a serious lack of team-work or a serious love of bureaucracy at that place.

 

First, there were more than 20 customers waiting to get their parcel. Then, there was only 1 staff on duty at the collection counter. That poor chap had to handle inquiries, confirm status of parcels in the system before requesting for the parcel from the ‘back room‘, get to the ‘back room’ to get the parcels, hand over the parcels to the customers and also receive complaints.

Usually there’s another lady working with him, but I guess she was on leave or something. I sympathize with him because almost all undelivered pos laju parcels in KK have to be collected from that counter, so you can imagine the number of customers that he had to attend to everyday.

On the other hand, there were almost no customer at the receiving counter.

I guess that’s because people prefer to post their pos laju at other mini-post offices – easier parking and less crowded. With so much time on my hands (I had to wait almost 1 hour to get my stuff), I can’t help but listen to the chit chats of the 2 staff at the receiving counter.

They had so little to do and yet they didn’t even bother to help their obviously swamped colleague.

There were absolutely no spirit of teamwork. They could have helped to get the parcels from the ‘back room’. Or they could assist with tracking customers’ inquiry.

But they didn’t. They let their colleague suffer alone.

I also get to listen to the customers’ grouses.

Among them:

1. The Pos Laju van does not wait long enough for people to get to their gates. Imagine if the only person in the house is an elderly, who cannot rush to the door immediately upon their honking or ringing of the doorbell – they’ll have to visit the Post Office.
2. Pos Laju delivery staff does not try hard enough to locate an address – one customer has her office at Asia City (about 10 minute-walk from the Post Office), but the Pos Laju staff said that he couldn’t locate the address.
3. Sometimes, Pos Laju staff doesn’t even go to some addresses – that’s why customers sometimes don’t even get the Notification slip although tracking may state ‘Unsuccessful Delivery’. So, don’t try to send a secret admirer ‘Surprise’ gifts using Pos Laju – it may never reach the addressee, and the addressee may never know about it.
4. And many more unpleasant stories….

I don’t think the customers were lying. And you can’t blame them – some had to leave their seats to renew their parking coupon.

In my humble opinion, Pos Malaysia need to better manage their manpower. Honestly, how do they monitor their staff when they are on the road? They also must train their staff to have teamwork, to support each other in the interest of the organization.

These are challenging times – some of their services are becoming almost obsolete and their competition is giving better services.

I do love Pos Malaysia – they’ve been around for so long and have given us so much, so I hope Pos Malaysia will improve themselves, prosper and stay on.

– Pos Laju – Please Beef Up Your Services Pos Malaysia!

Prudential BSN Takaful sucks:------ Case 1:- On 2008, I took up Prudential BSN Takaful medical insurance and pay a monthly premium of RM 300.00. On March 2012, I was diagnosed as having a coronary artery diseases and needs to undergo CABGS (Coronary Artery Bypass Grafting Surgery) at IJN. I wanted to claim it under 36 critical illnesses as my operations was fully paid by ING taken up by my employer. To my surprise, my request was turned down because Prudential informed that I did not declare that I have a hypertension. And now, I feel that I am being cheated and not satisfied with Prudential answers and excuses due to the following reasons:- 1) Hypertension is only one of the many reasons for heart diseases. It is not a sole contributor. What I am claiming is 36 critical illnesses (Coronary artery diseases requiring surgery) which may not be caused by hypertension. I do not feel any chest pain all this while and never admitted to a hospital due to hypertension . It was just a routine medical check up when the doctor found out that I have a blockage in my arteries after performing CT Scan and angiogram. But, all this while, I was never had any treatment for chest pain whatsoever. Thus, I do not need to declare that I need medical care. (The proposal in the original application did not mention whether I need to declare that I have a high blood pressure but the question was whether I have ever received medical care due to certain ailments etc) 2) Over half of the people are not aware that they have hypertension. The high blood pressure does not necessary means that it is always high. It can varies by changing healthy lifestyle etc. It is not something like dialysis where proper medical cares is needed. Thus, is not a good excuse to use hypertension to deny people from claiming from their insurance. 3) The agent should be able to help the insured to give a proper declaration. If they do that, I think prudential will close shop because most of them have some kind of medical problems and high blood pressure is already a common problem in Malaysia and the rest of the world. 4) If Prudential thinks that I should declare I have hypertension, than it is fair Prudential should request all potential insurers to have a medical check up before obtaining the policy. This is a fair request to ensure that the insured can make insurance claim after a long time of paying for the premium. We do not want to have a situation where at the end of the day, we cannot claim due to improper declaration, which may be caused by the agent or other things. At this point of time, when the insured is already ill, he only cannot claim but also cannot get coverage from other insurance companies. 5) Prudential tries to give all kind of reasons for not paying the insurance as promised. This is just like taking our money, invest it somewhere else and return it back to us at face value if necessary without any interest whatsoever. They purposely let you pay the premium first without further investigating your health condition. Later on when you want to claim, they rejected your application. This is done purposely because they can use your money to invest somewhere else. What a disgrace….. Prudential has offered me to extend my coverage by putting a loading on my premium for RM415.00 per month. Even with this increase in premium, I may not be able to claim and the chances that I get the claim is 50-50. The crisis shield cover is only RM 10,000.00. The question is why I should pay for something that I cannot claim????.. Due to this I am asking Prudential to refund all my monies. The damage has already been done because they are investigating after I had already felt ill and not eligible to take up insurance from other insurance companies. So, Bank Negara to take note of this practises by the insurance companies. Prior to taking up this medical insurance, I have made enquiries and found out that Prudential is the best insurance company in term of efficiency and services. I am testing the ground to claim for crisis shield cover even though it is only RM10,000.00 and I have already put in my money through insurance premium more than RM 16,000 for the past four years without fail. I am comtemplating of obtaining medical insurance for my wife and 3 kids with Prudential but now with this new turn, I would rather think twice to take up insurance coverage. So guys, be careful and think twice before taking up insurance policy. You may end up paying more or not able to claim due to the insurance companies manipulating your monies and give various excuses for not paying you insurance monies. When you get ill, you are no longer eligible to obtain insurance from other insurance companies.

Pengalaman Sewa Mobil di Bali

Pada tanggal 21hb Januari 2012, saudara saya di bali telah menyewa mobil jenis Suzuki APV dari sebuah PT yang berpengkalan di Bali selama 10 hari. Beliau telah berangkat untuk mengambil saya di yogjakarta dan kemudiannya balik ke kampung di Madiun. Kira-kira pada jam 1.00 pagi, salah satu dari bannya (tayar) telah pancit. Keesokan hari nya, dia telah menelepon penyewa dan memberitahu tentang situasi itu. Penyewa telah memberitau agar digantikan dengan yang baru dan ban yang pecah tadi di bawa balik ke Bali. Saudara saya telah menggantikan dengan ban baru dengan biaya RP475000. Sebaik sahaja pulang ke Bali, penyewa telah mengatakan bahawa dia akan bayar separuh harga sahaja dari harga asal. Walaupun diberitahu bahawa kosnya patut ditanggung oleh penyewa, dia tetap berkeras dan tidak mahu bayar harga penuh.

Inilah yang dikatakan janji tidak di tepati dan penyewanya cuma mau untung cepat. Masakan nggak tahu kos itu adalah tanggungjawab penyewa. Udah janji, tapi dimungkiri kemudiannya.

Udah kita buat baik, dibalas dengan jahat. Mohon supaya busnisnya cepat bangkrap.

Hi!

My name is Ahmad Danial. I am 2 1/2 year old. My nickname is Nanil. This is my brother, Abang Haiqal. I am half Malaysian and half Indonesian. My father is from Taiping and my mother is from Madiun, East Java.