I bought this book from Popular bookstore and finish reading it within a few days, word by word.

Quick Facts:
Author: Lim Teong Lay, Lee Chai Ling, Pee Che Yong
Price: RM28.90
Publisher: Leeds Publication
Total Pages: 195
Revised edition (October 2007)

About the Authors

Lim Teong Lay – has solid experience in life insurance field work since 1993

Lee Chai Ling – Business degree in Finance from Australia , CFP, RFP and more than six years experience in the insurance industry.

Pee Che Yong – principal author for the book Guide to Insurance Buying in Malaysia. He holds an Argicultural Science degree from UPM and has 10 years of experience in the life insurance industry.


This book was written to make you more aware of life insurance protection. Hopefully it will prevent you from suffering and regretting over buying insurance for the wrong reasons.

Since I am an insurance agent myself, I shouldn’t miss any book written about insurance industry in Malaysia. This book generally covers the basic. There is not much in depth details that goes beyond any secret that’s kept from the public. It is short, simple, and provide a good reference for newbies who is yet to buy his first insurance policy.


The content is well-organized. Here are some noteworthy points:

  1. Buying life insurance is like buying money – for every 3 sen you save, you will get RM1 as guarantee.
  2. Common misconceptions about insurance – “what is written is what I get”, “comparing apples with oranges”
  3. What to look for in an insurance quotation – the software version, riders and supplementary benefits, ‘guaranteed’ column vs. ‘not guaranteed’ column, and TPD benefit (Total and Permanent Disability)
  4. Comparison tables of different insurance plans with pros and cons – term insurance, endowment, whole life and investment-linked
  5. Ten Key elements to look for in a life insurance policy contract. I think there is nothing much a policy owner can do about these elements because it is pretty much standardized across insurance companies.
  6. Guide to select the most suitable medical card. It will be great if there is a comparison between plans from different companies. But I think this is not viable since insurance companies change their medical plan as frequent as once a year.
  7. Clarification about the critical year option
  8. Growth rate tables are provided to calculate your insurance needs. These tables are useful if you don’t have or don’t know how to use a financial calculator.
  9. How to claim tax relief from life insurance premium
  10. Some sample of effective letter in case you want to do any request, or alteration to your policy. But the market practice is – when you need to do anything regarding your insurance policy, you call your agent and just sign. Of course you would need to have a good and trust worthy agent to serve you.
  11. Where and how to complain when there is any dispute or dissatisfaction regarding your insurance benefit.
  12. Page 139 onwards is directory of insurance companies and major private hospitals in Malaysia. This part (29% of the book) will be very useful if you don’t have internet access, you lost your insurance policies, and your agent had just passed away. You don’t know who to contact. Refer this appendix!

Buy or Ignore?

Overall, I am not impressed with the book. You’ll probably find more information about insurance from this blog. However, if you want a systematic and flowing read, this book is a good start to know more about life insurance.

Hungry for books? Try this:

Top List of Personal Finance Books for Malaysians [written by Malaysian Authors]


Personal finance author and trainer

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