Comments on: Do you need Insurance Switching? http://kclau.com/insurance/switch-insurance-policies/ A Malaysian compiling Lots of tips and advices on personal financial planning - Protect, accumulate, preserve, and manage your WEALTH wisely! Fri, 05 Sep 2008 18:32:27 +0000 http://wordpress.org/?v=2.5 By: Top Investment Guides and 39 Investing Rules http://kclau.com/insurance/switch-insurance-policies/#comment-25805 Top Investment Guides and 39 Investing Rules Sun, 09 Mar 2008 23:02:17 +0000 http://kclau.com/insurance/switch-insurance-policies/#comment-25805 [...] Do you need Insurance Switching? [...] […] Do you need Insurance Switching? […]

]]> By: KCLau http://kclau.com/insurance/switch-insurance-policies/#comment-16638 KCLau Mon, 07 Jan 2008 21:55:29 +0000 http://kclau.com/insurance/switch-insurance-policies/#comment-16638 Hi Berd, It is an investment-linked policy. Hi Berd,
It is an investment-linked policy.

]]> By: Berd http://kclau.com/insurance/switch-insurance-policies/#comment-16551 Berd Mon, 07 Jan 2008 17:15:58 +0000 http://kclau.com/insurance/switch-insurance-policies/#comment-16551 I invested in Hong Leong's Investment-Linked Insurance. The fixed premium I paid each month (RM300) provide not only with life insurance cover but part of the premium will also invest in certain investment funds such as the Blue Chip fund. Is this consider as ILP? It looks to me like an investment fund rather than insurance plan. I was not told that my insurance cost will be higher as I get older, though. But I was told that if anything happens to me, I will get a fixed insurance of RM144,000. I invested in Hong Leong’s Investment-Linked Insurance. The fixed premium I paid each month (RM300) provide not only with life insurance cover but part of the premium will also invest in certain investment funds such as the Blue Chip fund. Is this consider as ILP? It looks to me like an investment fund rather than insurance plan. I was not told that my insurance cost will be higher as I get older, though. But I was told that if anything happens to me, I will get a fixed insurance of RM144,000.

]]> By: Ed http://kclau.com/insurance/switch-insurance-policies/#comment-6040 Ed Fri, 09 Nov 2007 03:58:01 +0000 http://kclau.com/insurance/switch-insurance-policies/#comment-6040 Well actually this is a sad state of affair in Malaysia. Bank Negara think Malaysian public has no knowledge and put such rule into place. What about if the customer is briefed on the pro's & con's of switching policy & still want to go ahead? Agents are still penalized. In the US, as long as the customer knows why he is switching & the agent can show that the product no longer suits the customer, the agent is not penalized. We should do something like this here too. Well actually this is a sad state of affair in Malaysia. Bank Negara think Malaysian public has no knowledge and put such rule into place. What about if the customer is briefed on the pro’s & con’s of switching policy & still want to go ahead? Agents are still penalized.

In the US, as long as the customer knows why he is switching & the agent can show that the product no longer suits the customer, the agent is not penalized.

We should do something like this here too.

]]> By: hedge fund news http://kclau.com/insurance/switch-insurance-policies/#comment-5475 hedge fund news Tue, 06 Nov 2007 05:07:25 +0000 http://kclau.com/insurance/switch-insurance-policies/#comment-5475 thanks for your information. As I never heard of the term insurance switching or may be I have bought ILP in the first place. Quite frankly, I forgot all the details in the first place, e.g how's the charges, in the young vs old ages etc. your articles remind me these things and I think it will benefit others as well! thanks for your information. As I never heard of the term insurance switching or may be I have bought ILP in the first place. Quite frankly, I forgot all the details in the first place, e.g how’s the charges, in the young vs old ages etc. your articles remind me these things and I think it will benefit others as well!

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