Insurance

What kind of insurance policy do you have?

I have three currently.

One is for 36 diseases. This is one traditional type of policy. What is traditional type? Well, i am not an insurance agent. From what i understand, this kind of policy is more expensive, but the cash value is higher. This was purchased by my mother when i was 18 years old. How wise she was. Can take it as a saving. LOL. At the beginning, she made the payment. When i was 24 years old and started working, i paid it by myself. It was aroudn RM1000++ per year.

The second one is the normal medical policy. All in one policy, including life insurance, medical card, accident and a little small part of investment. It costs me RM240 per month. Heard that the year i purchase it is some kind of anniversary of the insurance company, so my policy is a bit special of the benefits. Don't ask me how. I do not know. Previously, i thought i want to put more portion on the investment part, as i thought this investment would bring me wealth, or interest. I was wrong. A friend of mine who was an insurance agent told me that actually this small part of investment won't bring you much. This is only to cover your policy when you are not able to pay the premium. After that only i adjust the portion. I bought this policy with another agent. My friend really taught me a lot. An insurance agent with the intention of eduate people. We need this kind of agent.

The last one is saving type, where i need to pay RM6000 (plus some fee and tax) per annum. After 10 years continuously, i can start collecting the interest at RM2000++ per year, until my daughter is 86 years old. This policy is tied with my daughter. So we can get interest longer. The promised interest is 4% plus another rate depends on their investment gain. We can only take this as a saving, and not investment. 

I was satisfied with all this. And i don't think i would buy anymore. 

With the premium burden, i can save less, but more secure. Anyway, the most important is where we can live securely without worrying too much.

As a government servant, i have more options. This ease me too.