Insurance

No matter who you are and where you are...
This is one of the most important thing in our life...
There is always a risk that ACCIDENT or some extraordinary incident that might cause HUGE damage to us...
That's why we have to transfer the risk to other party...
We pay a premium to a company for a coverage due to those incident and they will pay $$ to us to cover the damage or loss...

But what should we insure???
how much should we insure???
how long should we insure???

Not many of us know about these...
many are blind folded by their agent who taking care their own pocket more than the client's!!!

Besides that, Not many agents even go through the whole insurance agreement and explain it to his/her clients...

life insurance is a must if you have dependent...
but it doesn't necessary to be whole life...
term and investment link policy might provide more effective protection...
its depend on how long do you need to "cover" your dependents who is ur wife or ur children...
For me,life insurance will be a NO if me and my wife are already 60-70, financial dependent and all my kids are adult!!!
Dont over INSURED!!!

For me and my wife,
Personal accident,illnesses and medical insurance are always a MUST
and it is also a MUST to everyone who may get hurt and need medical treatment!!!
so get what you need and dont over insured...

Saving plan is good plan for education fund purpose...
but not really a wise choice for those who are already 50 and above, financial stable and all kids are adult...
BUT many AGENTS tend to push saving plan to almost everyone...
where most of the time,
its is not a NEED for their clients....

TAKE CARE YOUR CLIENTS FIRST!!!
NOT YOUR POCKET!!!

Lastly,
sad to say that independent financial adviser is not workable in Malaysia yet...
most of the "financial planner" in Malaysia come with the conflict of interest with their clients...

i think agents have to know the ethic of their conduct...
wish there will be more and more people know how to plan and manage their financial...