Anonymous asked 10 years ago
Hi, Mr. KC Lau, I was approached by a financial planner recently and he suggested that I cut all my insurance policy that I have bought to a new policy that he suggested. His reasons was that the policy that I bought did not serve me any good, and the plan he suggested is better in terms of a higher sum assured and better H&S. And the financial planner is urging me to buy an endowment plan for 10 years, each month RM500 with the insurance company he suggested.
As I am like most people, I am not sure or even clear of what I have bought for my insurance. But I have service the insurance for more that 14 years and cutting it doesn’t seem to a right move. Maybe I can do some adjustment to it, maybe cut off the riders and buy a better medical card with another insurance company that can offer a better package?
Attached is the Policy Plans that I have bought over the years, can you look over it and give me your professional advise on the matter of my insurance policy? Whether I am adequately insured? What can I do to improve on it?
And is it a good idea to have an endowment plan now?
Just to give you some details, currently I am a 37 year old single women with both living parents, earning an annual income of around 70k.
Below is the link for my policy summary, as I was having problem attaching the photo.
https://www.dropbox.com/s/no7e15xka2tkbcn/Policy.jpg?dl=0
Thank you so much
Really concern and confuse,
M
