Just notice that I’m coming to 26 this year. Since I’m already a married man, I think it is time for me to consider some insurance.

Some people may freak away of insurance, well, I did too last time. Because some insurance policies are just plain wasting money, unless, saving program. Anyhow, there are pros and cons in between all the policies.

The other day, I spend some times listening and questioning with my mother, who was an agent before. In short, insurance are…

A plan to relieved yourself

Simply put, you always carry a backup plan for anything you did, just in case. So you know you’re in good shape in case anything happen on your first plan. Insurance, works just the same, beside it cost some fee. Whatever shit policies normally just an exaggeration from the agent themselves, the black and white (contract) always the one that talk louder.

A bank if you will

You can literally take insurance agencies as banks, but a higher bonuses. Up until today, the FD banks can offer is around 2.0 to 2.5 p.a, insurance agencies dare giving 4.0 to 7.0 p.a without guarantee. Even the worst scenario, you’ll get back 100% of whatever you’ve saved. A forceful saving it called. That’s why it is called as a “Saving program” policy.

Emergency fund if you dare

Seriously, think of this. You insure a RM100,000 for yourself. 5 years later today, you in need of RM25,000 or end on the street. Basically, you can just cop off your finger(s) and claim as accident and get the insurance pay you the sum. There are unlimited way of claiming insurance, it all depend on your creativity.

Medical card for fun

Unless you are staying in hospital, if nothing big discovered with you, there is no coverage. Basically, the medical card is just a plain wasting money. Malaysia government strongly recommend everyone to have a medical card that cost RM500 – RM2,000 per annual and top wages pay to only RM750 per month. Great governmental planning don’t it?

For my point of view, as long as one have some saving and willing to work hard and have a healthy lifestyle, there is no need of any insurance. So far I see majority old folk don’t even use more than RM50,000 in medical.

Like I said, buying insurances are just to have a backup plan for the “in case incident“.