Sunday November 7, 2010
Insurance 101
Before you start thinking of what policy to buy, get a good agent first.
YOU always know you’re dealing with a veteran insurance agent when he responds promptly and politely to your phone message. On top of that, he’s incredibly punctual when it comes to appointments – like Raymond S.C. Wong was, for this interview. Wong, 48, who has been a financial services consultant for 24 years, says: “Insurance is, unfortunately, a career that people look at last. It is something they think about only when times are bad or if they’re opting for a career change.” Insurance is also a subject people used to broach reluctantly, equating it with accidents, illness and death.
Read more at The Star Online
Sunday September 5, 2010
Many buying insurance up to age 100 due to high medical costs
PETALING JAYA: Rising medical costs have prompted more Malaysians to take up multiple health insurance policies, with some even extending their cover up to the age of 100.
A check with several major insurance firms showed good demand from the working population on extending their medical cover until at least the age of 80. Industry experts attributed the growing demand to healthcare costs escalating at between 13% and 15% annually, longer life expectancy and more patients turning to private hospitals to avoid long queues at public hospitals. As most employers do not provide post-retirement medical coverage, more working people aged between 25 and 50 are taking up private medical insurance policies to avoid exhausting their savings should they be stricken with a major illness.
Read more at The Star Online
Sunday November 14, 2010
Security blanket
Medical insurance is something you take but hope never to have to use.
WE read of young and healthy people who, without any warning, suffer a heart attack. Closer to home, your child may fall prey to the aedes mosquito and get dengue. Or, you could simply trip and break a leg. Whatever it is, when the hospital bill comes in, you'll probably suffer another blow when you see how the cost of treatment and medication all add up. Some people argue that it is too expensive – you pay so much and get nothing in return. But that's the thing with insurance – you take it in the hope that you won't have to use it. But should you ever do, you will definitely be glad to have had the foresight to sign up for it.That is one reason why it is important to have medical insurance.
Read more at The Star Online
2010/11/29
Health: Befriend your insurance agent
Don’t treat your insurance agents as pests. They are a potentially crucial source of help in an emergency, writes JENNIFER JACOBS. PEOPLE who treat their insurance agents as pests, avoid them or refuse to take their calls are cutting themselves off from a potentially crucial source of help. This shows a poor understanding of how much the agent can help you not only in planning your policies, but also in the claims process.
Read more at The New Straits Times
2010/11/22
Health: The right protection
Why do we need to get medical insurance? JENNIFER JACOBS finds out.
WITH the rising cost of healthcare and the growing inaccessibility of public services, more and more people are buying their own medical cover in case of accidents, emergency or sudden illnesses. However, Malaysians remain largely uneducated about the matter.
Firstly, it is important to know what you want, says Prudential Assurance Malaysia Bhd chief product and marketing officer Heng Zee Wang. A cheaper plan may mean less cover. Or it may have hidden loopholes that will actually terminate the policy should the policyholder make a lot of claims. Look out for a “renewal clause” which states that the insurance company can terminate a particular policy at its own discretion.
Read more at The New Straits Times
