Financial Planning (2): Insurance + saving

Insurance has become a necessity today. I was once believing that insurance does give benefit much to its contributor if nothing happened. As time goes by, i am more appreciating insurance than before. I realize that if tomorrow or someday, if i were to get heart attack or cancer, do i have enough cash to bear the medical cost? I have cash which is not much. If i were to go government hospital, the service is less preferably. I have been admitted to government hospital because dengue fever. Of course you want the best for your health, you want to be comfortable while you are very sick.

Before this, there's not much variety in the insurance industry. If you were to purchase insurance back in previous years, less likely your money will be returned to you if you are health and live longer. today, the industry has come with better solution. They have some sort like saving and at the same time you get protection. If you are healthy upon the maturity period, you will get back what you have invested.

First, you have to treat as your expenses. It's for your future billing if u were hospitalized. I have frens who had cancer and tumor. One live and one passed away. THe one who live, at first he is using company benefit to cover the medical cost. At last, it has reached to maximum amount and company started to cut half of his salary after the 3rd month. This is when the insurance becomes handy.

Another variety that industry can offer is college fund. Few years back, we have scholarship to cover college expenses. For bumi status citizenship of malaysia, you are lucky enuff to have that kind of privillege.

Education is getting more competitive than ever. Government has introduced loan for college expenses like PTPTN. Do you think that the PTPTN loan is sufficient to cover pocket money as well as other expenses?

Remember, you will still get back on what you put (meaning choosing the right product that has 3-in-1 funcctionalities (saving + coverage + hospitalization). with you insurance, you'll have piece of mind. No need to worry when you are unable to work, gain money. Let insurance takes care at that hour.