A lot of people look at it as some form of expenditure. Everyone knows logically its importance but unfortunately it stays "i know it's important but don't think i need it now"...kinda mindset.
Looking into medical cost nowadays in Malaysia, the most needed form of insurance is the medical coverage. The cost has been rising rapidly in the private hospitals. I think getting oneself covered for a meager amount of RM100 per month in exchange of 500k medical covers is a bargain.
The other 3 basic forms (Lost of life,Accident,Critical Illness) of insurance is also important. Many got confused between Critical Illness cover and Medical cover. Critical illness cover provides a lump sum payment upon diagnosis of any of the 36 types of critical illness covered. I still remember 10-15 years ago it's only 24 types. Normally this lump sum compensation is for the purpose of covering living expenses of a person in event he/she stops working due illness.
The medical cover is for hospitalization use. Covers all the necessary in-house treatments.
The image of insurance has been quite tarnished by irresponsible insurance agents over the years which resulted to the mindset of the public we have today. It's my job now to go out and start re-educating people again about insurance. yee..harr...
About Me
- william shum
- Actively involved in servicing and providing insurance solution to people and companies since 2004. Insurance is simple and straightforward. It is the value of our lives. I was an IT programmer for 10 years when i met a friend who introduced me to the world of insurance. It surprised me how under-insured Malaysians in general were and how little we understand insurance. It is not rocket science. It doesn't cost an arm or leg nor does it commits your fortune for a lifetime. With proper planning, Insurance is affordable, simple and straight-forward.I have never look back since I become actively involved in planning and providing insurance solutions to people and companies in Malaysia.