Malaysia is moving towards a develop country, but a lot of Malaysian still do not have insurance. Why is this happening? Ignorance is the main contributing factor and as a result, 50% of Malaysian is un insured. Are you one of them?
Already 20 years in life insurance industry, awareness level among Malaysian still low as compare to others developed countries like Japan, Singapore, Korean, Taiwan ,etc . Due to lack of information and awareness, Malaysian regards life insurance as something not compulsory, whenever a person is approached by insurance consultant, all kinds of excuses will be given just to avoid signing for the policy. Most common reason given is NO money.
From my observation, people willing spending money to change sport rim, change hand phone, buy I pad , buy new hand bag but just do not have money to buy an insurance policy. Many insurance consultants might be misled to believe that people don"t buy because they do not have money, but this is absolutely not true.
People can say whatever they like such as :
1) I DO NOT NEED INSURANCE
2) I DO NOT HAVE MONEY TO BUY INSURANCE
3) I THINK I SHOULD BE HEALTHY etc
But they just cannot denied that what they need in event of crisis is MONEY. In event of the following circumstances:
1) HEALTH PROBLEM
2) ACCIDENT
3) DISABILITY
4) DEATH
People need money to overcome the crisis. So, what are the options to get quick money?
1) Own money
2) Borrow
3) Ask for donotion
4) Depend on company
5) Use credit card
6) Go to government hospital
My 20 years experience indicated to me that the above options are not applicable most of the time and not the smart options. Ultimately LIFE INSURANCE is still the best choice because
it is the :
1) fastest
2) Easiest
3) Simplest
Way to get money. Emergency fund will be created immediately to provide MONEY in event of health issue, disability or death. If you are married and have children, have you ever ask if you are gone yesterday, are you leaving MONEY or LIABILITY. For Muslim, they are compulsory to leave behind at least ONE year family expenses but how many of them could fulfill this responsibility.
As Muslims, they cannot leave behind debts after death but i can easily predicted > 90% of Malaysian will leave behind DEBTS instead of MONEY. So, life insurance is so important and it is your choice to make the right decision for yourself and your family.
So, is it right to buy life insurance? The answer is up to you and your decision can make a very big difference in your life.
Already 20 years in life insurance industry, awareness level among Malaysian still low as compare to others developed countries like Japan, Singapore, Korean, Taiwan ,etc . Due to lack of information and awareness, Malaysian regards life insurance as something not compulsory, whenever a person is approached by insurance consultant, all kinds of excuses will be given just to avoid signing for the policy. Most common reason given is NO money.
From my observation, people willing spending money to change sport rim, change hand phone, buy I pad , buy new hand bag but just do not have money to buy an insurance policy. Many insurance consultants might be misled to believe that people don"t buy because they do not have money, but this is absolutely not true.
People can say whatever they like such as :
1) I DO NOT NEED INSURANCE
2) I DO NOT HAVE MONEY TO BUY INSURANCE
3) I THINK I SHOULD BE HEALTHY etc
But they just cannot denied that what they need in event of crisis is MONEY. In event of the following circumstances:
1) HEALTH PROBLEM
2) ACCIDENT
3) DISABILITY
4) DEATH
People need money to overcome the crisis. So, what are the options to get quick money?
1) Own money
2) Borrow
3) Ask for donotion
4) Depend on company
5) Use credit card
6) Go to government hospital
My 20 years experience indicated to me that the above options are not applicable most of the time and not the smart options. Ultimately LIFE INSURANCE is still the best choice because
it is the :
1) fastest
2) Easiest
3) Simplest
Way to get money. Emergency fund will be created immediately to provide MONEY in event of health issue, disability or death. If you are married and have children, have you ever ask if you are gone yesterday, are you leaving MONEY or LIABILITY. For Muslim, they are compulsory to leave behind at least ONE year family expenses but how many of them could fulfill this responsibility.
As Muslims, they cannot leave behind debts after death but i can easily predicted > 90% of Malaysian will leave behind DEBTS instead of MONEY. So, life insurance is so important and it is your choice to make the right decision for yourself and your family.
So, is it right to buy life insurance? The answer is up to you and your decision can make a very big difference in your life.
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