tag:blogger.com,1999:blog-2583108932297231959.post1759615149177991145..comments2024-03-28T01:10:52.517+08:00Comments on Making Sense of Money: What Type of Life Insurance to Buy?Jutamindhttp://www.blogger.com/profile/03247528342370244383noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2583108932297231959.post-30346127816282072662016-09-19T21:46:29.374+08:002016-09-19T21:46:29.374+08:00Thank you for sharing useful information. Can you ...Thank you for sharing useful information. Can you please explain what the pro and cons of this <a href="https://www.bajajallianzlife.com/term-insurance/isecure-insurance-plan.jsp" rel="nofollow">term insurance policy</a>, is there any age specification to go for this plan?Sakhi Sawanthttps://www.blogger.com/profile/07040288909231406638noreply@blogger.comtag:blogger.com,1999:blog-2583108932297231959.post-83458264625558481452015-09-05T20:21:30.342+08:002015-09-05T20:21:30.342+08:00If truth be told informative and valuable detail i...If truth be told informative and valuable detail is here.<a href="http://www.lifeinsurancerates.com" rel="nofollow">insurance rates</a>Anonymoushttps://www.blogger.com/profile/09585313652840922835noreply@blogger.comtag:blogger.com,1999:blog-2583108932297231959.post-66973204935873716722011-05-25T15:35:26.842+08:002011-05-25T15:35:26.842+08:00Term insurance is a type of life insurance policy ...Term insurance is a type of life insurance policy that provides coverage for a certain period of time, or a specified "term" of years. If the insured dies during the time period specified in the policy and the policy is active - or in force - then a death benefit will be paid. <br /> <br />Term insurance is initially much less expensive when compared to permanent life insurance. Unlike most types of permanent insurance, term insurance has no cash value.<br /> <br />Two of the best term insurance products in terms of pricing & coverage:<br /> <br />1) Mutual Life Plus 2 ~ exclusively for Unitholders of Public Mutual.<br /> http://www.publicmutual.com.my/OurProducts/InsuranceProducts/MutualLifePlus2.aspx#isrn_top_01<br /> <br />2) MAAKL Life Plus ~ exclusively for Unitholders of MAAKL Mutual.<br /> <br /> https://www.maaklmutual.com.my/Document/Brochures/lifeplus.pdf<br /> <br /> Please compare both before purchasing.Anandhannoreply@blogger.comtag:blogger.com,1999:blog-2583108932297231959.post-56622958911938569972011-05-25T15:32:38.140+08:002011-05-25T15:32:38.140+08:00An investment-link insurance plan is a life insura...An investment-link insurance plan is a life insurance plan that combines investment and protection. Your premiums provide not only a life insurance cover, but part of the premiums will also be invested in specific investment funds of your choice. You get to choose how to allocate your insurance premiums towards protection and investment.<br /> <br />Premium Allocation<br /> <br />Depending on your age, the premium and the basic sum assured, the premium that you pay may be split into insurance premium and investment premium.<br /> <br />For example if your total annual premium is RM3,000, always keep your insurance premium at the minimum RM1,200 due to the high deduction made in the first 6 years.<br /> <br />Annual premium of RM3,000 can be split into:<br />- Insurance premium ~ RM1,200.<br />- Investment premium ~ RM1,800.<br /> <br />A) Investment-link plan service charge deducted from the insurance premium of RM1,200/yr.<br /> (will be charged for the first 6 years)<br />1st yr - 60%<br />2nd yr - 50%<br />3rd & 4th yr - 30%<br />5th & 6th yr - 10%<br /> <br />-Total Deduction ~ RM2,280.<br /> <br />B) Investment-link plan service charge deducted from the investment premium of RM1,800/yr.<br /> (will be charged annually) ~ 5% (RM90).<br /> <br />Service charge is used to pay the commission of the agents and administrative charges of the policy, so if more allocation is made to the insurance premium, the agent's commission will be higher.<br /> <br />C) For example if your total annual premium is RM3,000, and all of it is allocated to insurance premium:<br />-Total Deduction ~ RM5,700.<br /> <br />So always insist on minimum allocation to the insurance premium and avoid paying high charges & fees.<br /> <br />By minimizing the insurance premium and maximizing the investment premium, you should be able to get higher coverage and more benefits at a lower cost.<br /> <br />Both the combined insurance and investment premium should be able to cover the insurance charges for the basic life insurance coverage and other optional benefits such as critical illness, personal accident & medical insurance.<br /> <br />If both the combined premium does not cover the insurance charges, then get a quotation from a different insurer.<br /> <br />Some of the terms used by different insurers to describe investment premium:<br />- Great Eastern ~ GreatSaver.<br />- Manulife ~ MaxiSave.<br />- MAA ~ MaaxSaver.<br />- Allianz ~ WealthCover.<br />- Prudential ~ PRUsaver.<br />- or usually termed as " top-up".<br /> <br />Only a few of the regular premium investment-link plans can be packaged whereby both the combined insurance and investment premium will cover the insurance charges at the initial stage itself. So please beware of agents who give you the wrong information.Anandhannoreply@blogger.com