Talk about insurance, I think I no need to explain more. For those who have car, for sure, you have car insurance. For houses, you have house insurance. For me, I have life insurance, car insurance, house insurance........Hmmmm, what else...... I think for the time being, just 3.
I bought the life insurance from my old old friend. I knew him since kindergarden. To me, if you want to buy an isurance, better to buy it from someone you trust and can depend on. Just in case, when anything happen (touchwood!), he/she can help to claim and do all the stuff related to insurance for you.
For car insurance, we need to renew it before we can go and renew our road tax. So we totally have no choice but to pay for it. One thing good about car insurance. If you didn't claim for the whole year, then the price will decrease for the following year, and so on.
What do you think about insurance? Maybe you can share some of your thoughts here.
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Saturday, November 3, 2007
Insurance
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3 comments:
House and car insurance is somewhat compulsory one. Especially still if you stay in apartment. The management would purchase for the whole block.
For personal is very, very useful. It is not to say that we are inviting trouble to come but it is a security for our family members. Be it your spouse or parents. It is a relatively small price to pay for the benefits. My favourite one is the medical insurance. Nowadays hospitals are very expensive and if our Company does not purchase it for you. Maybe our company would purchase it but maybe sometimes it is not enough. So we buy additional one also no harm - lah. Who knows we can even be enough to get a VIP room with "personal" services. (I think I better quickly go and upgrade my medical insurance for higher benefits. Dunno what kind of personal services they might have.)
Long ago when insurance first came into the Malaysian market, a lot of "mah ee poh" says "tai ke lei si" to buy insurance as if anticipating for death to come. However, some people still do have this kind of mind set. I heard somewhere (beh ki liao) that only around 15% of Malaysian population had only bought insurance. Very good for insurance salespeople (dunno if this figure was given by their boss to motivate their sales people or not).
it's somehow like writing a will. old people always said choi, curse me die. actually not really old people, now some people also have that mindset. they didn't think that, if you didn't write a will and something happen to u, the family members will need to go through a lot of process in order to get back what u left.
You are right. Will writers (like Rockefellor or something like that. Soli spelling chin nia char) charges something like 5% on the valuation of the assets in the will. These older people says that "Teo em teo. 5% hor lu lang chor hamik? Mai sia - lah. Wa si liao tia teo hor wa eh kia kar soon."
What they don't know is that it is very difficult for it to legally transfer to your direct beneficiary if there is no will. Government can do that but it will take many years for the court or judge to issue the Letter of ***** (beh ki liao) to inform all banks and govt departments (like EPF) to pass the money to your beneficiaries.
That is how those will writers calculate the cost of their services. If dun like will writers, lawyers also can but they also charges hell a lot of money. Unless you negotiated with the lawyer (like old family friend).
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