Why buy Life Insurance, Prospect Distantly Avoid Plague

Why buy Life Insurance, Prospect Distantly Avoid Plague

Why buy Life Insurance, Prospect Distantly Avoid Plague at all cost. Regrettably, the Malaysian life insurance penetration is merely 56% of the total population in 2016. It implied that the balance 44% of the citizen is uninsured or not qualified to have life insurance due to inborn defect. Why do we have such a pathetic scenario? Is the agent or assured to blame? Briefly, to say, it applies to both in our shore here.

Not only, no insurance also that the sum insured inadequately. The average is about RM100, 000.00 to RM150, 000.00, can it feed your beloved one or dependent for 5 or 10 years if one day you forget to return home. Moreover, an amount varied between the urban or rural living plus also the working spouse or children. Nevertheless, the meagre sum insured is hardly enough to last for a year living in the city with 2 or 3 kids in toll for a single parent.

Why Buy Life Insurance.

Is it the responsibility of the parent to take care of the children welfare when one demise? Very often, cool-blooded landlords eradicated single parents out from their rental homes. Subsequently, like adding fuel to fire, the bank publicly auctions off the house for 6 months default in repayment without any insurance to cover the loan tenure.

The innocent child is also the victim when one parent remarried. Stepparents often abused the defenceless kid. Recently, a newspaper reported rape, physically tortured with multiple cuts and bruises and old wounds over the emaciated body. The police rescued a retarded boy from the evil mother. The reason given, chained the boy like a dog in a small cage preventing he strolled out. Can your soul be rest in peace if someone does to your child? Unless you are heartless, no human-bear to see the suffering of abusive and inhumane torture.

Compensation for the death of insured under householder policy
Compensation for the death of insured


In the ever-burgeoning budget of a newly married couple with a kid, car loan, parking petrol and upkeep of the vehicle eat up a chunk of their salary each month. Moreover, there is the student loan, housing repayment, utility bill, an emergency fund like a kid doctor bill and love gift to aged parents. Luckily, break-even or a blessing to have a tiny disposal income left for saving. With a tight budget, any extra is beyond their means and classified as a “luxurious” item like buying life insurance.

Needless to say, it is advisable for such a young family to have affordable term life insurance that cost merely a daily high tea at a local café. What is your opinion you prefer pricey life insurance compared with a bedridden spouse or kid at home to maintain? Death is an instant relief, but the loved ones have undergone lifelong grief. So why be an irresponsible parent that might curse subsequently by those still alive struggling to meet day end need?

I lead a healthy lifestyle.

Nowadays, insurance agents always complain is difficult to close a sale with young and active people. The yuppie leads a healthy lifestyle to visit the gym 5 days a week after work. Likewise, for the diet too, eats moderately due to health and utmost important tight budget. How far is that true? We puzzle? Eat junk food like instant noodles with enhanced favour, fry egg and soft drink instead of mineral water or fruit juice? Surprisingly, the diabetics and hypertension suffer gradually knocking at their door. Closely examined, the Malaysian demographic depicted young suffer from 30+, which was unknown in the last century. Honestly speaking, how many Malaysians have their yearly toughly medical checkup? Toast off to you, if you have a clean report, otherwise, you are an insurable or substandard risk with premium loading.

Cover for Money Printing MachineWhy buy Life Insurance, Prospect Distantly Avoid Plague 1

An unpredictable human being, in order to understand insurance, might take ages. Insured their movable assets like automobile, exclusive motorcycle, extensive renovation home, camera and household contents even pet for fury animal including the kernel, but no insurance for themselves that. Rampantly road accidents and armed robbery pray hard nothing would befall on them. Moreover, no one can predict when you are imminently sick or bedridden or walk in the clutches. Yet, there is no insurance to cover for the machine that prints money for you, that is your body. Gradually, overuse due to wear and tear a machinery breakdown, likewise, it is the same for your body. Consequently, a fatality occurs or lying motionlessly on the hospital bed.

Why buy Life Insurance, Prospect Distantly Avoid Plague

Negative Perceptions

Crowded coffee kiosk, two middle-aged customers sat in between a young man, an insurance agent.

“I lament you not buy any insurance as my neighbour’s son hospitalization for a week in a private hospital, the insurer denied his claim”

“Why” another probed further.

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“I do not know the reason for the rejection, initially the agent helped to claim, eventually the agent also unreachable “

“Yes, truly say, the agent and the insurer are the legal lesson conmen, promise you the sky, finally you get a barren hope.”

“Sorry, young man, I need to consult my spouse before making the decision from buying your investment-linked proposal” Another elderly prospect consoled the dynamic agent.

“Yes, it is alright to reconsider about it, please don’t hesitate to call me for any doubt clarifications” the agent replies politely.

Thus one rejected claim would eventually rumour spreading fast like wildfire.

The truth reveals

Occasionally, the half-baked agent would request the assured to sign on the dotted line without filling the medical history. In order to get prompt approval, the agent ticked all NO in the column even though assured mentioned has hypertension and on long-term medication. Whose fault? It is the Assured himself as he does not know anything when he blindly signed the dotted line on the proposal form. The former kleptocrat prime minister Najib Razak is a shining example.

Assured’s moral hazard

I did help to claim a case rejected by the insurer. Finally, to my dismay, I obtained a hospital report that assured did a kidney stone removal in a government hospital. When asked by the agent any operation done in the past. He negatively answered NO. Consequently, the insurer denied its liability for his claim on kidney dialysis.

Another case on hypertension question, nevertheless, assured answered negatively despite the fact of having daily oral medication. Eventually, the claim is often denied by the insurer when the claim stroke or kidney failure at a later stage.

Utmost good faith

Utmost good faith is one of 4 principles governed by the rule of the insurance law. Legal binding between the assured and insurer when entered into an insurance contract, the assured disclose all the relevant material fact to the prudent underwriter in determining to reject or accept the offer. Whether the assured know or is unaware of the health condition, disclose to the insurer. So, sincere advice bears all the facts to the insurer to avoid the future burning issue on the claim matter.

No Dependent

Generally, couldn’t care less is the altitude of most of the y generation. Chase after the latest trendy iPhone gadget every six months. Moreover, priority on holiday, pay later for the credit card payment. Buy Life insurance? Why need it, I have no dependence is an impulsive reply? Single with no strings attached, without any family commitment, no parent, no sibling, living on own world, why care! Having said that, what about your final funeral expense, consequently let the government take care of burial, or leave the corpse to decay on the road or hospital? Perhaps, perform a unique Tibetan “sky burial” let the eagle devour your corpse. Why buy Life Insurance, Prospect Distantly Avoid Plague 2

Notwithstanding, if you have a grey hair retired government servant parent, isn’t a double pain for them. Losing one child, and the final expenses, ritual prayer and burial ground to pay for? Unfortunately, you confirmed total permanent disability, aren’t a pain in the neck hiring a nurse or long-term nursing for you. Conversely, put you in the nursing home, who pays for maintained expenses?

No Money

No money is just a lame excuse to put off for the newbie’s advisor. Regardless of single or a young married couple is a norm form of getting rid of intermediary. Or postponed, the chance is they procrastinate for a few more years. Luckily, the body has no red alerts for silent sickness. Meet a car accident, then you want to cover your car for a comprehensive term, do you think insurance company run on charity and accept your offer. Blatantly, you turn down. But the truth is, the majority of the insured have this kinda of weird idea.  I have stumbled across few incidents like this before during my 25 years in the insurance industry. Does the insurer run on charity?

Time waits for no man

Gradually, we aged with the erosion of time, coupling with consumption of highly toxin junk food daily intakes. No wonder a primary school going kid had undergone kidney dialysis at the public hospital. A normal phenomenon is our today society with a stressful lifestyle chasing after material gains. The insurance premium gradually rises accordingly to your age. Not only the higher premium pay but also lower the sum insured if we compared a lad aged 20 and another 30 years old adult. As we age, we are prone to illness due to the sluggish immune system. Even applies to term insurance for a 10 years gap band.

In brief, please buy insurance when you are in your youthful vigorous year to save a cheaper premium with a higher sum insured.

Jargon wording with length sentence Why buy Life Insurance, Prospect Distantly Avoid Plague 3

How many lawyers and insurance can consult and understand and interpreting sentence by sentence in the insurance policy? Nobody is trained in all fields; therefore no one is an all-rounder in this world. Diligently consultant your agent or even bring the policy to the insurer for a full explanation. Closely examine the following point, you would face difficulty in handle a claim in the near future.

Exclusion Clause

In this column all the sickness or any circumstances relevant contradicted to the policy, the insurer would deny its liability. For instance, commit suicide within certain years or claim on pre-existing illness know to the insured. Please highlight to the assured when delivering the policy for acknowledgement of the receiving the policy. Do not conceal the fact, it is better to avoid short-term pain rather finger pointed how irresponsibility of the consultant.

Inception Date

The policy was enforced with the date clearly printed out and the expired date of the policy. Commencing date is of utmost importance in the case of medical or 36 critical dreaded disease claims. Never overlook it. Frequently, assured would hospitalize for an illness, and bravely ignorance the waiting period. Subsequently, no entertainment of the claim, the assured would spread the rumour that insurer selling a scam policy, even though the default lies with assured. Sabotage the agent, branded you feckless advisor, and tarnished your name.

The schedule

In this schedule, your name and identity card number should be spell accordingly to your national identity card. Correct the error immediately should you spot a mistake. Thereby, the insurer has leeway to deny your future claim. Do not give the underwriter a chance for your consumer rightfulness claim.

Highlight the type of coverage, whole life, endowment, term or investment link or purely medical card policy. Total permanent disability, 36 critical illnesses, waiver of premium due to dreaded disease or the payor. Any hospitalization benefit per day, woman disease and pregnancy admission specified according to your signed proposal form. Scan any deviation, informed the agent in a written form and ensure the insurer to pass endorsement accordingly. Finally, made a note of the sum insured in the schedule.

Stated the policy number in the policy for convenient correspondence with the insurer claim, when ledge a claim in the future or an endorsement. How much premium do you have to pay? Assured need to warn adjusted premium during the duration the whole validity of the cover, not to forget if the medical card guarantee renewal clearly stated.

Buy peace of mind coverage

Splurge an exotic meal under the candlelight dinner or exorbitant family overseas excursion or perhaps the endless chasing the ever change the latest gadget every six months. Why not paused and think for your loved one when one day you lose your way home, getting a policy coverage that ensures all the financial constraints would not befall the ongoing family.

Your Thoughts

As usual, I would love to hear any thoughts or questions that you have in the comments section below.

Email me at jaminhappy@gmail.com
Why buy Life Insurance, Prospect Distantly Avoid Plague 4

Personal Accident Insurance Self-employed

Personal Accident Insurance Self-employed


Is it an essential to have personal accident insurance for self-employed.? It is Absolute Yes.

Own Boss

If you are self-employed or running your own business you will be only too aware No work No income. A significant impact to yourself and yours loved in the family while you have prolonged injuries. You are left high and dry without any sources of income to feed you and family members.  Isn’t it a tragedy?

Personal Accident Policy

The personal accident policy gives you a regular income should your absence from work due to an accident. AXA policy has a range of attractive benefits. It operatives 24 hours a day covering accidents that happen at home and at work. The policy pays for up to 104 weeks for the weekly benefit. It covers up to 75% weekly gross income.

 It is good to be you own boss by having a personal accident policy. It is an income replacement should an accident occur. The policy covers 24 hours a day at work and at home, activities like hobbies or sports. Covers all classes of occupations except hazardous.  It is a  worldwide cover including terrorism. The policies can vary considerably, and with restrictions sometimes apply.  Get an independent expert advice.

Accidental Death

If the insured die instantly in an accident, the next of kin of the insured shall receive the full sum insured. However, full payment will pay out if the insured die within 15 days after the accident, There is No payment if death occurs after 15 days of the accident,   Illness or sickness may be the main cause,  not the accident.


The insured may not able to perform the normal duty, either partially or wholly. Again, the claim is paid to insured who cannot work more than 6 months. If the policyholder is physically disabled, either partially or wholly, no claim is payable if the insured is able to work.


The policyholder loses both upper or lower limbs or eyes. He or she is entitled to claim under Accidental Dismemberment. There are certain norms for the payment of the sum insured. For example, if insured loses one hand or one leg, he or she would receive 50% of the sum insured. However, if both hands or one leg are severed, it is a full payment.

Hospitalization Expenses 

The insurer pays all hospitalization expenses due to an accident. Also, there is a daily cash allowance for the duration of hospitalization.

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Email me at myonlineinsurances@gmail.com.


Personal Accident Insurance Self-employed 5

Is it important to have Travel Insurance?

Is it important to have Travel Insurance?

Today, it is a borderless world. People often using flight to travel for holiday or business trip.  Many travelers asked, ” Is it important to have travel insurance?” Travel insurance will ensure that you get proper medical care, all of your bills are taken care of and if you really need it then you’ll probably get a repatriate back your home country as part of the package.

Travel insurance not only covers accident but your expenses, flight delays, medical, transportation, lost of personal effect and even pickpockets.  Please check your policy details as the cover can vary between insurers and there might be cases where you need to report things such as theft to the police before you can make a claim.

What types of travel insurance are available?

The travel insurance policies depending on the type of trip you’re taking, your destination and duration, your age, hazard activities. The question is “How much travel insurance do I need?”

Types of Travel Insurance

a single person:  for a single person.

a family policy: for the whole family traveling together for that trip.

a group policy:  if a few of you are traveling together.

a single trip: for a single trip only.

annual policy:   if you travel a lot, then consider an annual policy that covers you for a number of different trips throughout the year. It saves a lot of money in the long run.

Certain sports, like skiing, can be covered provide the insurer agreed with an additional premium.Then you can just enjoy your holiday, without any worry.

What does travel insurance cover?

Travel insurance goes well beyond the simple medical cover, Travel insurance covers you if your holiday is cancelled altogether, you have to be brought back home early for any reason, delays due to the airline (in which case the airline may give you compensation too), loss while you’re away and most policies provide round the clock assistance too.

These 5 matters are just the basics. Travel to high-risk countries like the nations are in civil war or war-torn e.g Syria and Iraq. You would not get any coverage for visiting such nation.  You are traveling at your own risk. It is best to follow the  Foreign Office advises against travel to certain countries.

A cancellation can happen to anyone. Heavy snow- fall on the runway to torrential rain, staff strikes. The volcanic ash clouds the sky have caused people to lose their holidays or stranded at the airport. Your airline may compensate you if your flight is canceled but there is extra cover available through travel insurance to give you that additional peace of mind.

You could find yourself stranded at the airport in a foreign land due to whatsoever reason. The airline sometimes covers the local accommodation,  but there are not guarantees. In this situation, it is better to have a robust travel policy.

Cancellation doesn’t just cover flight cancellation, you are often covered if you or a family member fall ill before the departure and you can’t travel for medical reasons. Providing you weren’t aware of illness in the family when you took out a travel insurance policy. A sudden death in the family.  You could even claim a full amount of the holiday. With the claim money, you can plan the future vocation.

An emergency evacuation and repatriation from any part of the world.  It can cost tens of thousands of dollars, without even starting on emergency medical treatment at a hospital.

Protect your possessions too

Astray baggage,  lose the passport, credit cards, handphone, and other travel documents. The insurer provides 24-hour assistance on hand. It is a nightmare to deal by yourself. It is worth to have travel insurance give you a peace of mind

Is travel insurance a legal requirement?

No, It is not a compulsory to have travel insurance. Some tour operators will insist you have a policy in place before they confirm your travel, especially to countries like the US.  There is no public health service like our NHS.  You and loved one is properly covered on a trip overseas. Accidents can happen anywhere., anytime. It is very difficult to deal with on holiday in a foreign country. You simply cannot leave it to chance when the costs could be so high.

Of course, you might have completed cover in one of your many complimentary packages such as your life insurance, your credit cards or bank account. It better to play safe than sorry check them carefully before you go overseas. If you need to get extra cover then start a travel insurance quote and compare the best cover and prices for you on the market right now, see how much you can save!