Hey I heard that today is Dooms Day, what are you doing here in this blog? :p People have been talking about it for soooooo long, and to be honest, somehow I believe it but somehow not. Well I bet you don’t really understand what am I saying but don’t worry cause neither do I.
For the past few weeks, this became one of the popular topic among me and my friends. One of my friends asked me this very interesting question which made me thought of it for very long. She asked: If Dooms Day really happened, but only half of the population been wiped out, and unfortunately you are the unlucky one, what will happen to all your hard earned money left behind and also your family?
Honest speaking, at that moment, I stunned. Because I have never thought of it. But after my friend asked me this question, there are so many question marks popping out in my mind. Is my family going to receive my savings in bank after I died? Is it enough for them to settle whatever expenses needed at that emergency period? Is myself have enough life protection ?
So I voiced out my worries. And my friend from Am Assurance asked me one more question: Did you get yourself any life protection?
Guess what come in my mind. Oh no is she going to talk about insurance? I better run. I believe a lot of people have this mindset when talking about insurance. But actually why? Even myself don’t understand why. I only know everyone said insurance is cheating, it doesn’t earn money, then why want to put ur money in? These agents will be so persistent to make you sign the policy. But at that time of moment, I made a wise choice and listen to the whole conversation which I really changed my wrong perception towards insurance.
One question for yourself: Why do insurance exist at the 1st place? Why our government allowing tax reduction on insurance? Is government encouraging something evil/bad to the people? Why every car must have car insurance?
Answering to the question ‘Why people said insurance is cheating?’ : Every insurance plan is approved by Bank Negara Malaysia, so the plan itself is definitely no problem. Then why are people said so? The problem lies with some of the agents out there who are unethical and giving the wrong message towards the customers. A lot of them exaggerating on the return part, which is misleading. The customers love and believe the high return that these agents said, so they signed on the plan. But sooner or later, they found that the return they get is not the same like what they heard from the agent! Of course they got angry, made complaints, blame the insurance company, blame the plan and telling everyone insurance is cheating. In fact, you can see that the problem lies with the agent who bringing the message to the customers, not insurance itself.
She also shared a small story with me. Recently there are people complaining about this plan from AmAssurance called AmCash 21. They complained that they got cheated. The agent told them they can get 10% of return from the sum assured. It is a pretty high return right. BUT, the agent did not mention that the return can be obtained every 3 years. As a customer, at the 1st year they did not get any return, of course they got angry.
So how does this plan works? The main feature of this plan is on PROTECTION. It gives you a protection at that period of time, which covers you from death, 36 illness and total permanent disable. Meaning to say, if touchwood you are in that 3 condition as mentioned earlier, Am Assurance Life Insurance will pay you a sum of money. It does have return also, but as mentioned also, it will give that to you every 3 years. This plan is focusing on giving you a protection, so the dividend is like a bonus to the customers. Everyone welcome some bonus right hahaha
So back to the question why do we need insurance? In my opinion, I think it protects myself and also my dearest family. If anything bad happened, at least I know that I left a sum of money for them to use at that emergency moment. People tend to ignore the misfortune part but again, I want to remind you, we will never know what will happen in the next minute. Just like my little hamster, if she continues to eat that much, she might choked someday. Ok this is a bad example my bad hahaha
Maybe you will say that you can always take out from the bank. But fyi, if one died, the family have to show documents and etc in order to prove the relationship to that person, then only they can get the money. The whole process maybe take weeks or months or even years. But for insurance, once the death certificate/letter from doctor saying that person has the one of the 36 critical illness or total permanent disable, the cheque to the family will be delivered in roughly 1 week time. So it makes sure the money is not frozen when the family need it urgently.
Btw through this conversation, only I knew that Am Assurance is not Am Bank. Am Assurance is a life insurance company. Hahaha silly me.
I really learnt a lot from this conversation. So that’s why I am sharing it with you. I hope it helps you in a way. Cause I don’t wish to see any of my friends is unprotected. Do let me know if you need any information. I am more than willing to share it with you. That’s how we all grow together :)
Btw Jane and I have some interesting stuff to announce soon! Do watch closely MERCATO :)
Is the Christmas season! We are totally in the happy mood :D I can’t wait to share my joy to all of you! Just wait… I will surprise you hehehehe
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