What people says about buying an insurance such as personal insurance,life insurance or even auto insurance?Here are some truthful opinions.
insurance needs are typically minimal For young working adults,. Nevertheless, they should set aside disposable cash to buy insurance plans with a savings element,” says Richard Bender, executive vice-president and general manager of American International Assurance Co. Ltd.“We all know the golden rule of shopping at a sale. Go early. use this for insurance purchase. Be the first one,Start early. Helen Yeoh, vice- president of marketing at Great Eastern Life Assurance (Malaysia) Bhd explains You will enjoy cheaper premiums and acceptance is more likely as your health is generally better,”.
You sure can be sure your money safe and can claim the benefits. Ooi Say Teng, chief executive officer of UniAsia Life Assurance Bhd says "Consider life insurance as a form of disciplined savings for the future,”.
Your circumstances will change as you get older. So what kind of things should you be considering for the future?
Provide dependents include your kids,families,or your wife. Your aged parents may be depending on you for their living expenses. So if anything unfortunate happens to you - such as disability or critical illness
- a good life insurance plan will support you and your parents,” says Ooi.
Insurers agree that savings and protection elements should play equal roles in your choice of policy As a rule of thumb, Yeoh suggests you have insurance coverage at least five times your annual salary, or up to 10 times if you can afford it.
"The expected average life span stretches past retirement age, it does not necessarily imply that retirement needs are more important than insurance needs,” says Bender.
Better Consider life insurance as a form of disciplined savings for the future,”. For instance if you don’t have medical coverage and you undergo costly major surgery, you could exhaust your savings and have very little left for your retirement,” he continues.
Source: Pokjat Personal Finance Blog