You can find the answer out there, why do you need life insurance. Me as insurance agent, I want to share, why I need life insurance.
1. Income protection for my family
Im still young and just get married January 2009. Saving in the bank is not much as most of them goes into my wedding expenses. My wife is working too. Our salary every month is just enough for bills, expenses and minor savings. Our fragile financial situation will be worst if Im leaving this world. My wife will be suffered from the monthly expenses and bills. And even worst, if we have kids later.
I took Prudential Insurance plan with 100K Sum Assured, which will compensate my wife if death happen to me.
How much Sum Assured enough for you? Take how much your salary and times by 24 months (minimum)
2. Force savings and investment fund
With life insurance plan which is Investment Link. Im not just paying for the insurance. I do my own savings with the plan.Saving is a discipline matter. With insurance plan, I can discipline myself to save every month.
Im paying RM200 per month for Prulink Assurance Plan which I will be having total savings of RM65K upon age 55. Pretty good right? This is additional money for my retirement 🙂
2. Medical Card
As insurance agent, I know well about the cost of medical treatment in Malaysia private hospital.
Dengue for 14 days admission will cost your RM10,000. Minor sinus operation RM6000. H1N1 for 3 days admission will cost your RM2500. Bypass artery operation cost you RM90,000!
I cant afford all the medical bills above and if i have the money, i will use if for my medical bills and left nothing for my retirement later as I cant do savings.
With PRUlink Assurance Plan, I have PRUhealth Medical Card and PRUhealth pays for the medical bills. My investment every month safe there and protected.
It is a very good plan, your money still there and the medical bills been paid.
Critical Illness Income
I work to do sales everyday, which mean i need to stay healthy and able to travel around Malaysia. But, what happen to me when Im critically ill? I need to support my family. With PRUlink Assurance Plan, I choose to have critical illness income if Im critically ill.
I wish I’m not critically ill, but when it happen I don’t want the condition become worst as I cant do work anymore.