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Remember that certain policies offer discounts (lesser premiums) to non-smokers
or to those in the younger age bracket. Check with your insurance agents for details
before committing yourself.
If you have been investing in insurance, ask yourself, are you currently sufficiently
covered? Like investing in unit trusts or stocks, you should review your insurance
policies periodically, at least once every year to ensure that you are adequately
and appropriately supported or insured.
You may have too little or too much coverage as your needs change over time. You
may need to review your policies after you were terminated or have changed jobs.
Mr. Kou, a bachelor will likely need less coverage than Encik Ahmad a married man
with two young children to support.
Check whether your beneficiaries or dependents stated in the policies are still relevant.
Find out also if the rate of returns forecast from your policies is still competitive
given the increasing competitive insurance market. Ask your insurance companies or
agents for further analysis.
Lastly, remember the rule - it makes sense to protect yourself first if you want
to accumulate long-term wealth.
Unfortunate events such as death, damage to your property, disability, theft, terminal
illness are some of the potential risks that could strike anyone at any time and
could result in significant financial losses. For some people, insurance has become
a necessity.
A sound plan financial plan should be able to weather any kind of financial storm.
Given the increasingly complex financial needs, talk to your financial advisors for
independent advice before making your ultimate decisions.
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