Why should we make or arrange the nomination in Insurance policy?

The purpose of having life insurance is to ensure that your loved ones are protected financially should anything happen to you. 

It is then important that your loved ones can access the funds quickly. If you do not make a nomination in your insurance policy, your insurance company is not obligated to release the policy moneys until your loved ones obtain a Grant of Probate or Letter of Administration or Distribution Order, which may take several years. However, if a nomination is made, the policy moneys can be disbursed much faster without the need to obtain the Grant of Probate or Letter of Administration or Distribution Order. 

In addition, in the case of a non-Muslim policy owner, a trust will be created in favour of the nominee under the following circumstances: 
• if the nominee is the spouse or child of the policy owner, or 
• if the nominee is the policy owner’s parent (provided that there is no living spouse or child at the time of such nomination). 
When such a trust is created, the policy is known as a trust policy. As a trust policy, the policy moneys payable do not form part of the estate of the deceased policy owner and are not subjected to the deceased policy owner’s debts. This ensures that your loved ones get the full amount of the policy moneys payable. 
However, this is only applicable if the policy is taken in good faith and with no intention to defraud creditors. 

A trust policy does not apply in the case of a Muslim policy owner. The nominee of a Muslim policy owner takes the policy moneys only as an executor and must distribute the moneys in accordance with Islamic laws. 


This Article adopted from insuranceinfo.com.my

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人生不同阶段的保险规划

爱，是一种情感，更是一种责任！
对家庭的责任！

保险，已成为生活中越来越重要的理财方式。但是许多人还在面对困扰与疑问在于需要什么样的保险，投保多少资金才适合？而事实上，保险产品多样化的选择以及搭配是非常具有个性化的，可根据人生不同阶段所担任的不同角色来做合理选择及搭配

准备期：20岁-29岁。年轻人刚步入社会，收入及工作稳定性不高，虽没有家庭负担，但要报答父母养育、栽培之恩，此时最需要的保障首先是10万至20万的意外险，和弥补社保不足的医疗险，尤其是重大疾病保险。意外事故的高发率令人触目惊心，发病后昂贵的医疗费用可能会使人多年的储蓄付之东流，甚至给家庭带来沉重的打击。因此，给自己投保一份意外及医疗保险，不但必要，也是对自己和家庭负责的一项投资。

基础期：30岁-39岁。这一时期，多数人事业逐渐稳定，收入持续上升。已婚人士注重考虑家庭保障，特别是作为一家之主和经济支柱，在子女未成年阶段，承担的风险和责任是最大的，除健康险外，应加大保障额度高而缴费低的定期寿险。此类险种不但提供因意外或疾病原因导致的残废或身故的高额保障，还可在年纪渐长，身体机能下降时免体检转换成其他的寿险产品，算得上是有双重保障。已婚人士在此阶段亦应有计划地储备子女教育金及退休金；未婚人士，尤其是单身女性，她们往往经济独立、思想独立，对生活质量要求较高，注重维护现有生活水平和对未来养老计划的预先安排。此阶段，单身女性在有充足的健康医疗保险的基础上，可选择兼备储蓄和投资的养老保险，有固定返还，有额外的红利分配再加上灵活、随意的养老金领取方式，这样更能满足独立女性的个性化需求。

成长期：40岁-49岁。这个阶段多数人开始面临子女教育的压力，事业逐渐进入高峰，生活基本定型，健康问题受到关注，人们也更容易受到疾病的侵扰。此阶段应加大健康保障的额度，并配合退休计划，投保养老保险。

收成期：50岁-59岁。这期间，多数投保人子女已开始独立生活，家庭负担减轻，但此时身体机能下降，各种病症容易增多，应对自己拥有的保障和健康保险做全面检查并做出适当调整。投保人此时开始考虑退休计划，也可通过保障额度高而保费相对较低的投资保险来避免可能产生的遗产税问题。

退休期：60岁以后。此期间为人们退休养老阶段，若有合理安排，可以保持有尊严的悠闲生活。这一阶段投保人体力减弱，收入减少，可继续投保健康险。

而投保时期的保费支出，应根据每个人的经济承受能力而定，不宜过高(免得因缴费压力而影响生活)，也不宜过低(不能满足实际的保障需求，起不到保障作用)。较为科学的安排是：合理的保费支出应占投保人年收入的10%-20%，这样可以既不影响其正常生活，又能很好地起到储蓄与保障作用。


摘自 新浪博客

欲知理财，财务以及更加了解您自身所拥有保单的详情，请联络:

Name: Tony Ngu 

Contact: 011 1058 8118 (Call/Whatsapp/Message/微信)

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何为人寿保险？

就简短的让大家了解何为人寿保险。。。

我们赤条条的来到这个世界，睁开双眼看到孕育我们，抚育我们的父母亲。
对于含辛茹苦无私奉献养育我们的父母，我们无疑是有责任的。

后来因一丝所谓的缘分，认识了相伴我们一生的她/他。
我们发誓与她/他执子之与子偕老，在有生之年照顾她/他，爱护她/他，这是我们肩上不可推卸的另一份责任。

后来我们为人父母，望着上天赐予的珍贵礼物，我们的心似乎被爱填的满满的。
父母、爱人、子女都是我们不容推卸的责任，可是一旦风险降临，留给他们的是无尽的悲痛还有那巨额的债款。

而人寿保险就是爱的载体，无限延续责任的工具。我们要留下的是爱，不是悲剧。

风险并不可怕，可怕的是我们不能应对风险。
幸福往往是在指尺之间，保险是爱的载体。

保险简单的说就是现在做将来的准备，有钱时做没钱的准备，年轻时做老了时的准备，健康时做不健康时的准备。

每一个人都需要保险的保障，在危险和风暴即将来临时，帮助我们尽可能地做好防备工作。

目前我们拥有多项保险产品，您不妨前来瞧一瞧。我们在线专家将根据您的实际情况，为您量身定制出适合的投保方案。

欲知详情，请联络:

Name: Tony Ngu 

Contact: 011 1058 8118 (Call/Whatsapp/Message/微信)

Email: tonyngu2628@gmail.com

Book an appointment and see how our plan can benefit you today!

Insurance for Retirement

Buying an insurance policy for retirement in Malaysia is usually to secure your finances after you've reached the golden age and stopped working - at least, this is how insurance companies see it.

How does it work?

Retirement-centered plans are a form of life insurance and can come as a term plan or a rider. The term life plans usually comes with 3 options or more. The longer your term's years are, the higher the amount of income you will get from the plan.

Most of the plan available in Malaysia are endowment plans, either with monthly or yearly income. However, the promised income will only start coming in after a year or so, after you've started the plan. There is a possibility of extra income in the form of dividends. This extra income is not guaranteed as it depends on the insurance company's performance.

Some of the plans may have you treating your insurance like a bank, asking you to deposit money with them as a form of savings. Certain plans may also allow you to withdraw from your total assured sum.

When can I apply?

While this insurance might make it seem like it's better applied for when you're past your prime or actually retired, the age limit to be insured for this policy can start as early as 14 days old depending on company and plan, but more commonly starts at 18 years or older and ends around your 50's, which is lower than the minimum retirement age of 60 in Malaysia.

Is there anything else I should know?

Most of these retirement plans come bundled together with Total and Permanent Disability (TPD) benefits, death benefits, medical or critical illness coverage. They may or may not also come with a Funeral Expense Benefit.

Any form of coverage that you get from your retirement plan in Malaysia is dependent on the total sum you have, so if any amount is deducted from it either by withdrawal or claims, your coverage will decrease.

Above Articles Adopted from Insurance-Finder.my.

Contact information:

Name: Tony Ngu

Contact: 011 1058 8118 (Call/Whatsapp/Message)

Email: tonyngu2628@gmail.com

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Are Your Loans Protected?

Have you ever come across a thought. . .
What happen to my housing loan if one day I suddenly leave this world or suddenly become a total disability person? Do my family just own the house instead of continue pay the loans? Sorry to say, your family will have to continue serve the mortgage if the loan package not including any protection.

Buying a home is a huge commitment and could take average homeowners up to 35 years to settle loan payment. Providing a home to your family, or your dependent, is a noble and responsible thing to do. But have you ever thought that a home loan could also turn into a huge burden for your loved ones in the event of death or total permanent disability (TPD)?

It is with these unfortunate circumstances in mind that most mortgage officers offer mortgage life insurance policy to home buyers. In any event of death of TPD, the policy frees the borrower's dependents from any debt as it is designed to pay off the remaining debt on the mortgage loan.

Similar to other life insurance policy, you need to pay a set amount of premium for a mortgage life insurance policy. If you pass away while the policy is in effect, the insurance company pays off your mortgage. Your loved ones can then live in the house debt-free, without having to worry about making any loan payments.

Which Mortgage Life Insurance do I Need?

In Malaysia, there are two types of mortgage life insurance available - Mortgage Reducing Term Assurance (MRTA) or Mortgage Decreasing Term Assurance (MDTA) and Mortgage Level Term Assurance (MLTA).

However, MRTA and MLTA are often misunderstood. Which do you need as a homeowner? The table below is a comparison of two policies.

At this Point, You may ask how much do I need to pay?

The premium is subject to your age, loan amount, and loan tenure. The basic rule of thumb is that the older you are and the higher the loan amount, the higher the premium you will have to pay. Similar to life insurance, if a person is diagnosed with a certain illness, the insurance company has the right to reject or increase the price to cover extra loading in premium.

Take for Example:

* These figures are used as reference as the interest rate will differ from insurer to insurer.

Now, Why should you buy MLTA over MRTA?

MLTA is a slight variation from MRTA and offers an alternative for a borrower who is looking for a life insurance which offers protection, plus savings, plus returns on the premium.

In a nutshell, MLTA offers level/consistent protection, allow you to buy/sell property using the same MLTA protection & offer cash back and interest comparing to MRTA.

MRTA's Disadvantages:

• Protection decreases annually Floating BLR rate = may cause insufficiency of coverage & need continuous housing loan
• No Cash Value
• Not Transferable To A New Property
• Can't Help You Save on Loan Interest & Shorten Loan Tenure

 MLTA's Advantages:

• Level Term Protection
• Guaranteed Cash Value
• Transferable To A New Property
• Help You Save on Loan Interest & Shorten Loan Tenure

Also please note that most of the times, it is not compulsory to buy MRTA from the bank that you get the housing loan with, if the banker tell you so please get in touch with me. We can arrage an appointment for the matter.

Above article is adopted from iMoney and Property.cc.

Contact information:

Name: Tony Ngu

Contact: 011 1058 8118 (Call/Whatsapp/Message)

Email: tonyngu2628@gmail.com

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Oh Gosh! My Retirement Fund Enough for Meal Only?

Have you ever think of whether your retirement fund is enough? 

Have you really plan for your retirement?

If you think your EPF saving is enough for your retirement, then you may reconsider to calculate and figure it by yourself.

How much do you spend for meals in a day currently? 

What about 10 years ago?

What about 10 years later? 

Did you noticed that the price of our foods or Grocery items are increasing every year?

Here is just a very conservative calculation, let's say you are age 30 now, you have the ability to work/earn, but after your retirement on age 55, if you stop working/earning, say you live up to 78 years old.

Here's  Simple Calculation to bring you Awareness:

This is only spending on meals, what about your other expenses? Housing loan? Car loan? Children? Travelling? Medical Expenses? Supplementary? Gift? Other Bills? 

Just think it clearly what else would you need to spend after your retirement?

HLA WEALTH PLAN is a solution for you right now, as you have the ability to earn now, you can treat this as your second EPF account, save aside a small portion of your earning, to enjoy higher interest and compounding interest, to secure your retirement fund.

Contact information:

Name: Tony Ngu

Contact: 011 1058 8118 (Call/Whatsapp/Message)

Email: tonyngu2628@gmail.com

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Tips on Getting a Medical Card

I've come across lots of friends, or clients who ask me the question on getting a medical card. 

"Tony, which medical card is good for me?" 

"Tony, what if I'm admitted to hospital, will the medical card be functioning?"

"If I have the medical card do I have to pay? or I pay partially?"

"Medical card is good but I can't afford it, how?"

Well, lots of people out there understand that having a medical card is very convenient and helpful. It is part of a medical insurance plan, but not every medical plan has a medical card. 

Its main benefit is getting you a fuss-free and cashless admission into local hospitals, though where you can use a medical card varies.

If you do not have one and are looking to get a medical card, here are some helpful notes in assisting you in getting the best medical card in Malaysia. You can compare medical cards in Malaysia by focusing on:

1. Prioritize: Which aspect of the plan is important to you?
   • Identify your needs. Do you have any pre-existing conditions? Does your family have a history of medical problems?
   • Identify your wants. What would you like to have together with your plan, just in case? Overseas treatment? Death benefits? Higher annual/lifetime limit?
2. Budget: How much can you afford to spend on premiums? A good indication of how much you can spend is doing some calculations Total household income – average household expenditure = money for leisure = Possible Premium Budget.
3. Compare: To compare medical cards Malaysia, it is important to put what you need before what you want.Which plans offer what you need?
   Which plans fall within your budget?
4. Compromise: You may come across problems if your budget does not at least cover what you need. You will most likely have to reconsider your budget, your needs or your lifestyle.

While doing the medical card comparison in Malaysia, here are some questions you should also consider to help you narrow down the results in finding the best medical card for yourself.

General

• What kind of services does my medical card cover?
  Does it cover pre-hospitalisation? In-hospitalisation? Post-hospitalisation? Surgery? Outpatient services? Which services do I need and want covered?
• Can I use the medical card at my usual clinic/hospital?
  You will have to refer to an insurance company’s panel of clinics and hospitals to see if your preferred medical service providers are listed.

The Insured(s)

• Who are the people that can use the medical card?
  Is the medical card only for myself as an individual, for me and my partner, or for me and my entire family?
• Is there an age limit to who can claim from the medical insurance?
  The age range differs across companies, but generally anyone from a baby of 30 days old to a senior of 65 years old are eligible. Anyone older than 65 is subject to the policy’s conditions.

Costs

• How much will hospitalisation cost me?
  Evaluate how much you might spend for room and board per day if you are hospitalised. This can help you decide on an appropriate budget.
• Do I have to pay any part of the bill?
  Does the insurance plan pay for everything or will I have to share part of the bill? Some plans have limits on how much they will pay for a service, but others pay the entire sum charged by the clinics/hospitals.
• Is there a limit to how much I can claim from an insurance company?
  You will have to check their service limits, annual limits and lifetime limits.

The above articles is adopted by from insurance-finder.my.

Contact information:

Name: Tony Ngu

Contact: 011 1058 8118 (Call/Whatsapp/Message)

Email: tonyngu2628@gmail.com

Book an appointment and see how our plan can benefit you today!