Insurance and saving for fresh graduates

Baru kerja.
Mesti rasa over excited and fikir kereta apa nak dibeli. Mestila kereta idaman yang rata-rata RM700+ installment sebulan.

Walauapapun, ketepikan sedikit duit gaji untuk insurance dan ASB/tabung haji.

Ada dua jenis insurance iaitu conventional dan takaful. Most of Muslim disarankan untuk memilih takaful sebab pelaburannya adalah dalam dana yang diluluskan syariah. Pulangan agak sedikit rendah berbanding dengan conventional.

Insurance mungkin ramai nampak tak penting. Dengan cerita yang berlambak-lambak insurance agent lari and susah claim. Insurance ini sebenarnya sangat penting sebab we never know masa sakit atau mati.

I have a skeptical perception about insurance agent. They just want your money and then lari. Ini kerana my mother pernah kena macam tu. Siap kena tipu lagi katanya tempoh matang 10 tahun. Rupa-rupanya 25 tahun. Ada satu time tu my mother warded. Tapi insurance tak cover sebab hanya insurance nyawa. Tapi tak semua 'busuk', masa my ayah sakit, we managed to claim a few amounts sebab penyakit beliau memang serious.

Mulai dari sini I am more aware dengan coverage.

Mula-mula masa di approach oleh my current insurance agent, Carol Tan Chia Wei from Great Eastern (dah 3 years with her service), I was a bit cold. I know I am being covered by TNB sebab I am working with UNITEN. TNB's coverage memang tiptop. I feel secure enough. Beliau sangat penyabar. She's explain to me satu persatu. Yang saya ingat sampai sekarang, Carol pesan beli insurance masa sihat dan muda. Coverage tinggi, dan premium murah masa muda. Kalau dah sakit atau dah obes, susah company insurance nak approve. Bulanan akan naik. Memang betul. My mother and father dah susah nak tambah coverage sebab dah tua and ada record sakit.

Jenis-jenis coverage:
1. Nyawa (Life)
2. TPD (Kecacatan kekal)
3. Medical (warded dan rawatan di hospital)
4. Saving

1. Nyawa
Most of insurance yang 'kos rendah', around RM50, hanya cover nyawa. Ini bermakna, kalau mati baru boleh claim. Ada yang ada return back (bonus) setiap 3 tahun, ada yang tiada return back. Coverage ni selalunya boleh claim perlepasan income tax. Kalau masuk ward dan tak mati, tak boleh claim. Ramai yang mengamuk sebab ni.

2. TPD
Kecacatan kekal. Misalnya putus kedua-dua tangan, atau satu tangan satu kaki. Ada % yang boleh claim. With Great Eastern, once claimed untuk yang TPD, GE akan bayarkan (waive) monthly premium and policy holder akan still enjoy all the benefits.

3. Medical
Hospital swasta most of them minimum katil RM150 sehari. Kalau sebilik 2 orang mungkin around RM200-RM250. So pilihlah nak katil macam mana kalau warded nanti. Tak semestinya kalau ada medical card boleh duduk first class. Kena ikut berapa RM coverage untuk ward. Jumlah coverage untuk rawatan juga penting. Selalunya ada stated berapa jumlah coverage sampai maximum umur dan jugak annual limit. Misalnya my coverage dengan Great Eastern, Annual Limit untuk rawatan is RM120,000 and limit sampai umur 80 tahun is RM1.2juta.

4. Saving
Pilihlah insurance yang ada saving so that dalam masa 20 tahun akan datang dapat semula jumlah yang telah dibayar sepanjang tempoh tu. Boleh la buat belanja masa dah tua nanti. Tak semua insurance ada saving. Being protected while saving for future.

Pilih insurance agent yang boleh dipercayai. Selalunya company tu bagus ja. Cuma agent yang menipu untuk dapatkan client janji bulan bintang.

So far I am very happy dengan Carol sebab beliau caring, concern, and akan update kalau ada promotion baru and yearly service beliau akan update berapa ada dalam saving and remind us about our coverage. Kira boleh diharaplah sampai untuk waive income tax pun beliau boleh assists. Life/medical insurance banyak dapat waived income tax setiap tahun.

If ada yang berminat untuk starts protecting, saving and waive untuk income tax, I can recommend her to you.

** Update 02 Jan 2021: I have upgraded my Life and Medical insurance - RM500,000 + RM120,000 for life, and unlimited lifetime for medical.

RM500 for lower-middle class person

Last week, i have found an article mengenai less nicotine and tar dalam rokok. Selalunya i will just ignore je article pasal rokok since memang banyak sangat nasihat2 dan kesedaran yang cuba disampaikan oleh penulis. 

But this time, ada satu part yang tiba-tiba menarik perhatian... Saya petik dari artikel tersebut...

"I have spoke to ex-smokers, and many of them, from the middle to lower-middle class, say they usually spend RM500-600 a month on cigarettes..."

It is a huge amount of money for a middle class people since we are now living in a generation yang memerlukan duit untuk semua benda. 

Everyone knows that merokok memang merbahayakan kesihatan. But the pleasure of merokok, hanya orang merokok saja yang tahu. I am trying to understand them.

What i am trying to say here is, instead of spending their money to harm their body n person around them, spend it for their future. RM500-600...  A man can secure a personal insurance that covers his life, medical, and saving for him n his family's future. That only will take a quarter or half from the mentioned amount. He even have extra amount to be spent for his family... Makan besar once a month maybe. Because those person yang akan bersama kita untuk jaga bila kita sakit. Or can get his beloved partner to be protected also. Why not? Berubah lah sekarang, sebelum terlambat. Get protected now. 

Great eastern.

Life is great.

Tips Memilih Insurance Terbaik

Insurance agent – sometimes can be the most irritating person – hate that.

Ok.. ketepikan insurance agent.

I want to focus on insurance itself.

Insurance is important to be used pasa masa-masa yang tertentu/genting yang berkaitan dengan kesihatan; hospitality, disease. Nak harapkan duit simpanan, boleh. But cukup ke untuk rawatan susulan? bil-bil hospital? rawatan pakar? this is the purpose untuk subscribe insurance. TO help us masa sakit.

Due to that, we should save some portions from our income to pay our insurance policy. What types of policies are available out there? Which types of policy you’ve subscribed? Until when?

Life/Death? Medical/hospitality? Critical disease? Personal Accident?

Less we pay, less coverage. We have to find something in the middle and we can afford!

That is the key. The monthly contribution should be not too much until we cannot afford to eat, and not too less until we cannot claim anything except death – sad!

I have made some readings and observations regarding insurance. The concept is really clear. To help the person when they are in trouble (based on the coverage).

Most of Malays did not trust an insurance company. Why? Because they saw many people (friends/family) dah jadi mangsa insurance agent – look the word here, AGENT.

Here are some tips before you subscribe for an insurance policy:

1. Make sure you are dealing with an authorized agent from a well established insurance company (not subagent).
2. Make sure the coverage (note the amount) are as follows; death, 36 critical disease, medical (very important), saving investment (return), maximum age.
3. Jangan pilih agent yang sangat2 mendesak. Pilih ikut gerak hati korang - selesa.

Coverage

This is the most sad part. I have meet a few of my friends. Some of them declared themselves as an insurance subscriber.

Case 1: “I just pay RM56 per month” – X. When I take a look at the policy, coverage: death and permanent disability only. To further more, if something happen to X except death, and lost ability (pair), he CANNOT claim anything at all.

Case 2: “I have 2 policies; medical and saving” – Y. What will happen to his medical policy’s contribution? You give me the answer.

Boleh nampak tak? Banyak customer di playing around by these irresponsible insurance agents.

Sebab tu you have to ensure the coverage before you subscribe an insurance policy.

Bukan salah pengguna kalau tak tahu apa2 mengenai insurance sebab they haven’t been explained well/clearly by their agent.

Honestly I feel very sad tengok banyak orang Melayu kene twist dengan orang Melayu sendiri.

As an agent, you patut TOLONG orang. Bukan just nak close the deal and get your commission.

I read, I saw, banyak yang sangat2 tamak.

You chose to be an insurance agent. You really want that job because of the job environment and responsibility, or you just want that job because of the commission? It is fine for you to get the commission if you’ve done your job very well. Tapi kalau you explain tak clear, you keep on saying “boleh boleh boleh” for everything termasuk yg tak boleh, you rasa dah wat keje yg betul?

I am not getting emotional here. But I am very sick with some of the agents yang macam buaya. Cari mangsa untuk close the deal and left them lepas dapat commission. Because of these kind of people lah yang buat banyak orang benci agent insurance.

Ada banyak pilihan; insurance issued from bank, Prudential BSN, Etiqa, Great Eastern, ING, MNI… banyak lah!

For me personally and based on my experience, I prefer and already subscribed to Great Eastern Takaful. I chose it because of the product, and the agent.

To all readers, buat la pilihan yang terbaik untuk insurance. Subscribe seawal mungkin sebab mana2 insurance tak akan cover untuk penyakit sedia ada.