Comments on: Beware of the Worst Advice from Insurance Agents http://kclau.com/insurance/replacement-of-insurance-policy/ A Malaysian compiling Lots of tips and advices on personal financial planning - Protect, accumulate, preserve, and manage your WEALTH wisely! Sun, 12 Oct 2008 17:40:43 +0000 http://wordpress.org/?v=2.5 By: KCLau http://kclau.com/insurance/replacement-of-insurance-policy/#comment-59294 KCLau Fri, 05 Sep 2008 04:47:08 +0000 http://kclau.com/insurance/replacement-of-insurance-policy/#comment-59294 Normally, you can change the policy type within one year<br><br><a href="http://www.kclau.com">www.kclau.com</a><br>Via iphone (爱疯) Normally, you can change the policy type within one year

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]]> By: yhchong http://kclau.com/insurance/replacement-of-insurance-policy/#comment-59283 yhchong Fri, 05 Sep 2008 04:38:09 +0000 http://kclau.com/insurance/replacement-of-insurance-policy/#comment-59283 I heard we can 'switch' to another policy type within the same insurance company if we are not 100% happy about the existing one in terms of coverage, protection, etc. So instead of lapse the existing, we could do a 'switch' . Is this true? I heard we can 'switch' to another policy type within the same insurance company if we are not 100% happy about the existing one in terms of coverage, protection, etc. So instead of lapse the existing, we could do a 'switch' . Is this true?

]]> By: KCLau http://kclau.com/insurance/replacement-of-insurance-policy/#comment-33018 KCLau Sat, 10 May 2008 06:02:35 +0000 http://kclau.com/insurance/replacement-of-insurance-policy/#comment-33018 @10ha, I don't think it will reset your policy. I am sure that Great Eastern policies won't be reset like you said for premium reduction. If it is a traditional policy. it will be partly surrendered. If it is an investment-linked policy, it works about the same too. If you are paying 10% of your salary for insurance protection that's over your need, it might be over insured. But I doubt that you will be over-insured. Normally if someone pay a lot more than 10% for full protection plan, it might be the case of over-insured. @10ha,

I don’t think it will reset your policy. I am sure that Great Eastern policies won’t be reset like you said for premium reduction. If it is a traditional policy. it will be partly surrendered. If it is an investment-linked policy, it works about the same too.

If you are paying 10% of your salary for insurance protection that’s over your need, it might be over insured. But I doubt that you will be over-insured. Normally if someone pay a lot more than 10% for full protection plan, it might be the case of over-insured.

]]> By: 10ha http://kclau.com/insurance/replacement-of-insurance-policy/#comment-32966 10ha Fri, 09 May 2008 16:37:16 +0000 http://kclau.com/insurance/replacement-of-insurance-policy/#comment-32966 i've asked my agent, he said that to reduce premium, it'll reset the policy again, and based on current age, which means the premium is higher in a way. I want to ask how to determine whether a person is over insured, cause currently i'm paying rm300+ monthly premium, which is equivalent of my 10% salary. i’ve asked my agent, he said that to reduce premium, it’ll reset the policy again, and based on current age, which means the premium is higher in a way.

I want to ask how to determine whether a person is over insured, cause currently i’m paying rm300+ monthly premium, which is equivalent of my 10% salary.

]]> By: Paying Life Insurance Premium: The Smartest Form of Saving | Personal Finance Money Tips http://kclau.com/insurance/replacement-of-insurance-policy/#comment-32396 Paying Life Insurance Premium: The Smartest Form of Saving | Personal Finance Money Tips Sun, 04 May 2008 23:03:39 +0000 http://kclau.com/insurance/replacement-of-insurance-policy/#comment-32396 [...] If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting! Paying premium for life insurance policy as long as possible is one of the best form of saving you should have. I am talking about your old policies, your existing policies which are still in force now. Perhaps you stopped paying the premium because it reaches the “critical years”, or you plan to lapse the existing one in order for you to afford new insurance plans. But don’t be stupid. Beware of the worst advice from insurance agent. [...] […] If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting! Paying premium for life insurance policy as long as possible is one of the best form of saving you should have. I am talking about your old policies, your existing policies which are still in force now. Perhaps you stopped paying the premium because it reaches the “critical years”, or you plan to lapse the existing one in order for you to afford new insurance plans. But don’t be stupid. Beware of the worst advice from insurance agent. […]

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