Tuesday, 31 March 2015
From Manulife
http://www.manulife.com.my/life/Documents/ManuLink%20Shield_Full_280115.pdf
1. This is an insurance product that is tied to the performance of the underlying assets, and is not a pure investment product such as unit trusts. 2. You should satisfy yourself that this plan and the rider will best serve your needs and that the premium payable under the policy contract is an amount you can afford. 3. Please note that a life insurance policy is a long-term commitment and as such it is not advisable to hold the policy for a short period of time in view of the high initial cost. 4. Please also be aware that you may deplete the Investment-Linked funds’ units when purchasing too many unit deducting riders. 5. You are given a “Free-Look Period” of fi fteen (15) calendar days to review the suitability of your newly purchased insurance plan from the receipt date of the policy contract. If you return the policy contract to Manulife Insurance Berhad (MIB) during this period, the unallocated premiums (if any), value of units that have been allocated (if any) at unit price at the next valuation date as well as any fees and charges excluding the Fund Management Charge that have been deducted, less any medical expenses which may have been incurred will be refunded to you and this Policy shall be cancelled. 6. Purchase of new units and sale of units will be at the Net Asset Value (NAV). Net Asset Value is the single price at which the policyowner buys and sells the units. 7. Valuation of the underlying assets of the Investment-Linked funds is on every business day basis. Transactions are carried out on a forward pricing basis, which means that all transactions carried out today will be based on the unit prices determined at the next valuation date and not the price currently available. 8. The value of the funds shall equal to the fair market value of all the funds assets at the close of the business day immediately preceding the Valuation Date, less funds liabilities, and less fund management charge. 9. Investment returns are not guaranteed as unit prices may go down as well as up. These investment risks are borne solely by the policy owners. Past performance of the funds is no indication of future performances. 10. In the event of exceptional circumstances, such as high volume of sales of investment in a short period of time, MIB reserves the right to defer or suspend the issuance or redemption of units. 11. In the fi rst 2 policy years the Company will allow a period of 3 months from the due date for the payment of each premium. If all premiums due remains unpaid at the end of the 3 months, the policy shall automatically be surrendered for its Account Value, if any. The Account Value in IPA shall be subject to Full Surrender Charge. From the third (3rd) Policy Year onwards, if any premium remains unpaid at the end of the Grace Period of 1 month, and if the policy has Account Value, the Company shall administer the policy on the basis of the premium holiday benefi t, otherwise the policy shall automatically be terminated. 12. This brochure is for general information only and is not to be construed as a contract of insurance and no consideration has been given to the particular circumstances or needs of any person. The precise terms, conditions, exclusions and defi nitions of this plan are specifi ed in the policy contract issued by MIB. Terms and conditions apply. 13. The premium and/or policy charges, whichever applicable, may be subject to Goods and Services Tax (GST) and any other taxes that may be introduced by the Government of Malaysia from time to time, at the prevailing rate. MIB reserves the right to collect from you an amount equivalent to the taxes payable for the premium and/or policy charges, whichever applicable. If your policy period spans over the effective date of the GST, the amount collected on GST will be on pro-rated basis. Your obligation to pay GST and other applicable taxes shall form part of the Terms and Conditions in your insurance policy. 14. In the event of any discrepancy between the English, Bahasa Malaysia and Chinese versions, the English version shall prevail. 15. This plan is underwritten by Manulife Insurance Berhad (814942-M), a company licensed under the Financial Services Act 2013 and regulated by Bank Negara Malaysia. It is located at 16th fl oor, Menara Manulife, 6, Jalan Gelenggang, Damansara Heights, 50490 Kuala Lumpur.
5 simple ways to choose a investment protection
Five simple steps to choosing an investment-linked plan
Step 1: Determine your savings reserve
This is the money you set aside for day-to-day expenses and for emergency purposes.
This is the money you set aside for day-to-day expenses and for emergency purposes.
Step 2: Identify your investable assets
Your investable assets = Your total assets less your savings reserve.
Your investable assets = Your total assets less your savings reserve.
Step 3: Identify your risk profile
What is your risk appetite? Are you the type to play it safe, or to take your chances? Complete our Risk Profiler to find out.
What is your risk appetite? Are you the type to play it safe, or to take your chances? Complete our Risk Profiler to find out.
Step 4: Determine your investment objectives and horizon
When would you need your capital back should you invest it today? This will affect the types of funds you invest in.
When would you need your capital back should you invest it today? This will affect the types of funds you invest in.
Step 5: Build your portfolio
We have developed an investment portfolio that caters to 3 different investment horizons of 5, 8 and 12 years. These portfolios have been put together to help optimise your returns according to your risk appetite and investment horizon.
We have developed an investment portfolio that caters to 3 different investment horizons of 5, 8 and 12 years. These portfolios have been put together to help optimise your returns according to your risk appetite and investment horizon.
Investment Protection by Maybank2u
It takes money to achieve many of life's goals—whether we want to own a house, to retire comfortably or to provide a good education for our children. The only practical way to make sure we can achieve our goals is to have a financial plan, with specific strategies to meet specific objectives.
Let's start by sorting out the objectives into short, medium and long term. Some examples and typical strategies for achieving the objectives are given below:
| Duration | Short term | Medium term | Long term | Protection objectives |
| Objectives | Holiday, car | House, children's education | Retirement | Asset protection (e.g. car, home), income protection |
| Financial strategies | Keep your assets liquid so that you have the cash needed for down-payment or full purchase | Invest more aggressively, to earn better returns in the medium term | Invest aggressively while you are young, then move into safer assets as you approach retirement | Buy insurance policies to complete your financial strategy |
| Examples of investments/ insurance | Savings account, fixed deposits | Shares in companies in both developed and emerging markets |
(Earlier) Shares in companies in both developed and emerging markets
(Later) Shares in established companies in matured markets
| Personal accident, medical, motor, houseowner, Mortgage Reducing Term Assurance (MRTA) |
As you can see, besides growing your wealth, you need to protect it to safeguard your family's future. Investment-linked insurance helps you do just this, without having to purchase insurance or invest your money separately.
Three key benefits of investment-linked insurance
- Financial protection against Death and Total and Permanent Disability (TPD). Optional riders for Critical Illness and Accidental Death and Dismemberment (ADD) are available with some policies
- Investment opportunities
- A choice of investment funds with different investment objectives (i.e. to generate income or to generate capital growth)
- Diversification (to reduce risk)
- Professional fund managers
- Dollar-cost averaging (DCA)*
- Flexibility
- To alter the sum assured to match your changing protection needs
- To alter your premiums to match your changing investment needs
- To make partial withdrawals, switch funds, top-up and fully redeem your investment
*DCA usually provides better returns and less hassle. You do this by investing a fixed amount of money regularly, regardless of market conditions, instead of investing all your money in one go. Regular investment means that you buy more shares/units when the prices are low and less when prices are high. This evens out the risk of buying high and selling low, and usually results in a lower average cost per share/unit over time. For instance, if the market is falling sharply, then DCA evens out the initial high cost of the investment, thereby allowing you to start "turning around" before the market does. In addition, DCA means that you do not need to guess what will happen next in the market, as it has no bearing on your decision to invest.
Advantage of protecting your financials.
Widespread consumer credit defaults help makes it clear improved consumer protection is needed. Had there been better protection prior to the financial crisis this would have ameliorated the severity of the crisis and might even have forestalled it.
However, there are dangers in a Consumer Financial Protection Agency (CFPA), dangers of over regulation and of stifling innovation. Proposals for blanket prohibitions and for compulsory provision of plain vanilla products are probably a step too far. The emphasis should be on improved transparency and on solving the market failure of inadequate information.
Many consumers lack knowledge and understanding in the financial area, so that disclosure alone is unlikely to be enough to solve the market failures in some areas. Even if it avoids ex ante prohibitions, the consumer protection agency should look for situations where companies are exploiting the lack of consumer knowledge. They should stop sharp practices and perhaps exact penalties on companies that have used them.
As a first choice, U.S. should have single conduct of business regulator covering both the protection of small shareholders and protecting consumers of financial products. The SEC is the natural choice to be the conduct of business regulator and the home for a consumer financial protection agency. As a second choice, a separate agency could serve, provided it has the appropriate structure and a staff that is balanced and knowledgeable about markets. This short paper makes these points by identifying key structural provisions of the Treasury’s proposed CFPA, enumerating some concerns that have been raised about it, arguing for a more balanced perspective on consumer protection, and offering some recommendations.
Introduction
One important cause of the financial crisis was the housing bubble: individuals and families borrowed heavily to buy houses they could not afford and subsequently defaulted on their mortgages. There was also speculation in the housing market as people bought residential properties hoping to sell them at a profit. And families that already owned homes borrowed against the equity that they had built up and then were unable to meet their debt obligations. This latter problem became much worse as a result of the subsequent decline in home prices and the loss of household income in the recession.
Difficulties in meeting credit card payments have also contributed to the financial crisis. A source of these problems arose when some credit card companies engaged in sharp practices. For example, some companies changed the due date for payment without warning, so that customers missed a payment deadline and incurred fees or penalties, including perhaps a sharp upward adjustment of the interest rate on outstanding balances.
In response to these experiences, it is appropriate to seek out policies to make sure that the same thing does not happen over again. Any future financial crisis will likely be different from the one we are going through, but it is still important to learn the lesson of history and not repeat it. Reasonably, therefore, the Obama administration has made consumer protection a major facet of its financial regulatory reform plan, proposing a new agency, the Consumer Financial Protection Agency (CFPA) as one of its reform proposals.
In the Senate, the Chair of the Banking Committee, Christopher Dodd has expressed support for measures to provide greater consumer protection. Barney Frank, chair of the House Financial Services Committee, sponsored a version of the CFPA, named the “Consumer Financial Protection Act of 2009”, or HR 3126. While major facets of the bill are quite similar to the administration’s proposal, a major difference between the House bill and the Obama plan is that the House bill “preserves the current federal banking regulators’ role to enforce the Community Reinvestment Act (CRA).” It should be noted, however, that at the time of the writing of this paper Chairman Frank is circulating a new version of the bill that may in part exempt nonfinancial businesses that are acting in their traditional capacity, as well as other modifications. Similarly, in testimony before the House Financial Services Committee on September 23, Secretary Geithner expressed a willingness to work with congressional and industry opponents to soften some of the part of the proposal these stakeholders deemed most objectionable.
Still, the stated rationale for this proposal certainly raises the question of whether or not the best way to protect consumers and to protect taxpayers from the consequences of widespread consumer credit defaults is to create a new consumer protection agency. This short paper will identify key structural provisions of the Treasury’s proposed CFPA, enumerate some concerns that have been raised about it, argue for a more balanced perspective on consumer protection, and offer some recommendations.
However, there are dangers in a Consumer Financial Protection Agency (CFPA), dangers of over regulation and of stifling innovation. Proposals for blanket prohibitions and for compulsory provision of plain vanilla products are probably a step too far. The emphasis should be on improved transparency and on solving the market failure of inadequate information.
Many consumers lack knowledge and understanding in the financial area, so that disclosure alone is unlikely to be enough to solve the market failures in some areas. Even if it avoids ex ante prohibitions, the consumer protection agency should look for situations where companies are exploiting the lack of consumer knowledge. They should stop sharp practices and perhaps exact penalties on companies that have used them.
As a first choice, U.S. should have single conduct of business regulator covering both the protection of small shareholders and protecting consumers of financial products. The SEC is the natural choice to be the conduct of business regulator and the home for a consumer financial protection agency. As a second choice, a separate agency could serve, provided it has the appropriate structure and a staff that is balanced and knowledgeable about markets. This short paper makes these points by identifying key structural provisions of the Treasury’s proposed CFPA, enumerating some concerns that have been raised about it, arguing for a more balanced perspective on consumer protection, and offering some recommendations.
Introduction
One important cause of the financial crisis was the housing bubble: individuals and families borrowed heavily to buy houses they could not afford and subsequently defaulted on their mortgages. There was also speculation in the housing market as people bought residential properties hoping to sell them at a profit. And families that already owned homes borrowed against the equity that they had built up and then were unable to meet their debt obligations. This latter problem became much worse as a result of the subsequent decline in home prices and the loss of household income in the recession.
Difficulties in meeting credit card payments have also contributed to the financial crisis. A source of these problems arose when some credit card companies engaged in sharp practices. For example, some companies changed the due date for payment without warning, so that customers missed a payment deadline and incurred fees or penalties, including perhaps a sharp upward adjustment of the interest rate on outstanding balances.
In response to these experiences, it is appropriate to seek out policies to make sure that the same thing does not happen over again. Any future financial crisis will likely be different from the one we are going through, but it is still important to learn the lesson of history and not repeat it. Reasonably, therefore, the Obama administration has made consumer protection a major facet of its financial regulatory reform plan, proposing a new agency, the Consumer Financial Protection Agency (CFPA) as one of its reform proposals.
In the Senate, the Chair of the Banking Committee, Christopher Dodd has expressed support for measures to provide greater consumer protection. Barney Frank, chair of the House Financial Services Committee, sponsored a version of the CFPA, named the “Consumer Financial Protection Act of 2009”, or HR 3126. While major facets of the bill are quite similar to the administration’s proposal, a major difference between the House bill and the Obama plan is that the House bill “preserves the current federal banking regulators’ role to enforce the Community Reinvestment Act (CRA).” It should be noted, however, that at the time of the writing of this paper Chairman Frank is circulating a new version of the bill that may in part exempt nonfinancial businesses that are acting in their traditional capacity, as well as other modifications. Similarly, in testimony before the House Financial Services Committee on September 23, Secretary Geithner expressed a willingness to work with congressional and industry opponents to soften some of the part of the proposal these stakeholders deemed most objectionable.
Still, the stated rationale for this proposal certainly raises the question of whether or not the best way to protect consumers and to protect taxpayers from the consequences of widespread consumer credit defaults is to create a new consumer protection agency. This short paper will identify key structural provisions of the Treasury’s proposed CFPA, enumerate some concerns that have been raised about it, argue for a more balanced perspective on consumer protection, and offer some recommendations.
Wednesday, 25 March 2015
Answer for why you need financial protection :)
- For My Own Protection – When I was about to resign from my job, I was thinking, what if I suddenly had a serious illness or involved in accident and not able to work and earn any income? what will happen to me? Yes, I still have my family, but would it be fair to burden them? Would I want to burden them? I am not married, so I cannot be asking help from my husband. Will I have enough savings for the treatment and those health related matter? Will I trouble my parents and siblings for that? Sometimes, these thought made me having sleepless nights. With an insurance policy, at least I am covered for my illnesses with adequate financial support for any expensive treatment.
- For My Savings – I am a business minded person which means that I am very calculative when it comes to my money but there are times that I spend money just to make myself and people who surrounds me happy. Yes, I do have my own savings in the bank and in mutual funds but with insurance, It’s another medium for me to force myself into saving a few hundred bucks monthly by contributing to my insurance premium and one thing for sure, by receiving my yearly account statement, I know where my money goes too.
- For My Investment – Partial of my premium will be invested into selected funds with a handsome return that you can’t resist. Absolutely a great way to have extra money and it is safer too as insurance minimize the risk factor on your investment.
- For My Retirement – With the hope that everything goes well without me making any major claims or withdrawals, I can retire early and receive my investments and live in Paris with my cats.
- For My Future – When I learned that your premium increases together with your age, I realize that I really need to have an insurance coverage as early as possible. I do not want to wait until I have my own family or other big financial commitments in life as by then, the premium to start an enrollment for my insurance will be very high and insurance company have the rights to rejects or excludes applications with health problems. Among all of the above, the main reason why I decide to take up an insurance coverage is still based on the first reason which is PROTECTION. In case of any accidents or serious illnesses, there will be a strong financial support for myself and my family.
Savings for after retirement insurance by GE
| GREAT RETIREMENT PLAN | |||||||||||||||||||||
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Without prudent planning, coupled with the effects of inflation; your savings may not be enough to secure your ideal retirement lifestyle. Great Retirement Plan will provide you a stream of guaranteed income to supplement your retirement fund. Furthermore, you can enjoy yearly annuity tax relief of up to RM3,000. There is no better time to start saving early to help you achieve your ideal retirement lifestyle. Guaranteed Income Everyone dreams of having a retirement that would not be affected by uncertainties. With Great Retirement Plan, you can retire with better peace of mind by receiving a stream of guaranteed yearly income for 10 years. Here are sample illustrations of the Guaranteed Income payable based on the entry age and premium payment term.
The Guaranteed Income is payable every year for 10 years starting from the end of policy year of age 60 years next birthday or at the end of your premium payment term, whichever is later, depending on your choice of premium payment term and entry age. Annuity tax relief of up to RM3,000 You may qualify for tax relief of up to RM3,000 yearly for premiums paid during year 2012 to 2021, subject to the approval of the Inland Revenue Board. This is on top of the RM6,000 personal insurance tax relief provided for other life insurance plans you may have. Payout for unfortunate event Great Retirement Plan provides financial relief for you and your family when you need it most - be it for medical costs, homecare or living expenses. Should an unfortunate event such as death, TPD or diagnosis of any of the critical illnesses (except for Angioplasty And Other Invasive Treatments For Major Coronary Artery Disease) occurs, you or your loved ones will receive a lump sum payment of the cash value of the policy. Hassle-free application We've made it easy for you to take up the plan with a simple application process where no medical underwriting is required.
Disclaimer:
The product information above is for general information only. It is not a contract of insurance. You are advised to refer to the Product Brochure, Sales Illustration, consumer education booklet on Medical and Health Insurance product (MHI), Product Disclosure Sheet and sample policy documents for detailed important features and benefits of the plan before purchasing the plan. The exclusions and limitations of benefits highlighted are not exhaustive. For further information, reference shall be made to the terms and conditions specified in the policy issued by Great Eastern Life Assurance (Malaysia) Berhad. | |||||||||||||||||||||
SMART EXTENDER by GE
| SMART EXTENDER | |||
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that provides higher annual limit and no lifetime limit to ease your burdens from the increasing medical expenses.
Enjoy a high overall annual limit with no lifetime limit Smart Extender offers a high overall annual limit equal to ten times of the deductible amount, with no lifetime limit. The deductible is an amount which is equivalent to the initial overall annual limit of the medical rider attached to your investment-linked insurance policy. Smart Extender covers the total eligible medical expenses incurred for all insured benefits accumulated in any one policy year, minus the deductible amount of the selected plan. The deductible amount is the amount of the eligible medical expenses that you need to settle first before Smart Extender pays the excess. An example of how it works: A 28-year old male buys a Smart Extender SE60K plan with a deductible amount of RM60,000. He was admitted into the hospital in April 2015, June 2015 and July 2015 with eligible medical bills of RM30,000 each totalling to RM90,000 in Smart Extender's policy year. The first RM60,000 will be paid by him and/or his other medical rider and the remaining RM30,000 will be payable under the Smart Extender.  Comprehensive medical benefits with no co-insurance Smart Extender does not only offer a high overall annual limit, but gives you financial security too. With no co-insurance payments required for hospital inpatient benefits as well as pre-hospitalisation and post-hospitalisation benefits, you can focus on getting well while we take care of your medical expenses Protection and coverage up to 80 years next birthday With Smart Extender, you will be covered up to the age of 80 years next birthday, giving you reassurance even in your golden years. Smart Extender must be attached together with SmartMedic, SmartMedicXtra or any other eligible investment-linked medical rider that will be introduced by the Company in the future. The Deductible Amount under Smart Extender must correspond to your medical rider's initial overall annual limit, i.e. SE60K for SM100, SE90K for SM150 or SMX150 and SE120K for SM200 or SMX200.
Disclaimer:
The product information above is for general information only. It is not a contract of insurance. You are advised to refer to the Product Brochure, consumer education booklet on Medical and Health Insurance product (MHI), Product Disclosure Sheet and sample policy documents for detailed important features and benefits of the plan before purchasing the plan. The exclusions and limitations of benefits highlighted are not exhaustive. For further information, reference shall be made to the terms and conditions specified in the policy issued by Great Eastern Life Assurance (Malaysia) Berhad. | |||
Protection Insurance by GE
| SMARTPROTECT MAX | ||||||||||||||||||||||||||||||||||||
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Based on the chosen premium payment term, the Insurance Premiums paid are allocated to unit funds at the following rates:
For policies with Basic Annual Premium exceeding the maximum amount of Insurance Premium allowed under regulatory requirement based on the chosen coverage, the amount in excess will be treated as Balancer. Based on the protection and investment level, your premium may be segregated into Insurance Premium and Balancer (regular premium in excess of the Insurance Premium). The Balancer portion is allocated at 95% allocation rate to unit funds throughout the chosen premium payment term. Additional 1% on your sum assured every year With SmartProtect Max, your sum assured increases by 1% every year throughout your entire coverage period to give you much added assurance and providing additional financial resources for your loved ones to continue living with added peace of mind should the unexpected happen to you. An example of how this works: John Wong is a 35-year-old male. Let's assume he purchases SmartProtect Max with a basic sum assured of RM500,000. If John lives till the age of 40 years, he will accumulate 1% more per year on his sum assured for 5 years: Initial basic sum assured = RM500,000 Additional sum assured = 1% x RM500,000 x 5 = RM25,000 This means the total sum assured will be increased to RM525,000 at the end of the fifth policy year. Note: The above is used for illustrative purposes only. Terms and conditions apply. High coverage for death or Total and Permanent Disability (TPD) benefit With protection coverage starting from RM500,000, SmartProtect Max ensures that you and your loved ones will not be financially burdened should an unexpected event occur. Should death or TPD occur, the total sum assured or your total investment value, whichever is higher, will be paid out in accordance with the provisions of the policy. No-Lapse Guarantee SmartProtect Max comes with a "No-Lapse Guarantee" in the first six policy years. This valuable feature ensures that your policy will continue to remain in force even if your total investment value becomes zero, so long as the premiums are paid consistently on each premium due date or during the grace period and no withdrawal is made within the first six policy years. Choose your protection and investment levels You can choose the protection and investment levels according to your needs and goals. Available to you is the option to boost the investment value of your policy via single premium top-ups after your policy is in force. A minimum amount of RM1,000 for a single premium top-up will effectively provide a fresh injection of 95% of the paid premium to unit funds, bolstering your investment value. Pick your own funds SmartProtect Max gives you access to professionally managed funds. You can pick the funds that suit your risk appetite and investment style. If your needs change, simply switch your choice of funds. Conversion at maturity At the maturity date of your SmartProtect Max policy, you may purchase a level sum assured Endowment or Whole Life policy, but not later than the year in which you attain age 80 years next birthday. Disclaimer: The product information above is for general information only. It is not a contract of insurance. You are advised to refer to the Product Brochure, Sales Illustration, Fund Fact Sheet, Product Disclosure Sheet and sample policy documents for detailed important features and benefits of the plan before purchasing the plan. The exclusions and limitations of benefits highlighted are not exhaustive. For further information, reference shall be made to the terms and conditions specified in the policy issued by Great Eastern Life Assurance (Malaysia) Berhad. | ||||||||||||||||||||||||||||||||||||
SMARTINVEST PREMIER by GreatEastern
| SMARTINVEST PREMIER | |||
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SmartInvest Premier Insurance 2 ("SmartInvest Premier") is a plan that focuses on investing your money through higher allocation rates and Loyalty Incentive while taking care of all your needs and commitments. You can even attach additional riders to ensure continuity of your investments should your health ever let you down - without requiring further contribution on your part.
Higher investment allocation for more investment opportunities Because SmartInvest Premier is serious about building your wealth, you'll enjoy a high allocation rate of 95% to investments right from the first policy year and onwards. Additionally, a 2% Loyalty Incentive will be added to your premium allocation rate for payment of premium for every 3rd policy year. Boost the investment value of your policy at any time As your needs develop, you can increase your commitment to grow your wealth through an option to boost the investment value of your policy via single premium top-ups. A minimum amount of RM1,000 for a single premium top-up will result in a fresh injection of 95% of your premiums paid to unit funds, bolstering your investment value and potential returns. See your investments through the unexpected You have the option to attach additional riders such as premium waiver riders to ensure continuity of your investments even if your health takes an unfortunate turn. Should you suffer from a physical setback like TPD, you will receive the benefits payout in accordance with the TPD provisions of your policy - but it doesn't end there. We will continue to invest on your behalf without requiring further contribution on your part. Pick your own funds You get to pick and invest in whatever best suits you at any time. Our range of professionally managed funds will cater to your risk appetite and investment style. If you ever change your mind, simply make a new selection. Provision of financial protection against the unexpected In the case of death, or should you be afflicted with TPD, the basic sum assured and your total investment value will be paid out in accordance with the provisions of the policy. Hence, you can be rest assured that your loved ones have the financial resources they'll need to carry on.
Other benefits include:
Disclaimer:
The product information above is for general information only. It is not a contract of insurance. You are advised to refer to the Product Brochure, Sales Illustration, Fund Fact Sheet, Product Disclosure Sheet and sample policy documents for detailed important features and benefits of the plan before purchasing the plan. The exclusions and limitations of benefits highlighted are not exhaustive. For further information, reference shall be made to the terms and conditions specified in the policy issued by Great Eastern Life Assurance (Malaysia) Berhad. | |||
SMARTINVEST GROWTH by GreatEastern
| SMARTINVEST GROWTH | |||||||
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The plan offers a convenient way to increase your sum assured when you want more coverage due to increasing financial and family commitments at different life stages. Starting with a one-time premium of just RM5,000, you can also choose to top up anytime to boost your policy's investment value. As SmartInvest Growth enhances your coverage and makes the most of your money, the financial safety net it provides will bring your dreams closer to reality.
Enhance your protection with Guaranteed Insurability Benefit (GIB) When you marry, welcome a newborn child or as your responsibilities increase, your protection needs will grow. The plan's GIB allows you to conveniently increase your sum assured accordingly, subject to the maximum limit, without underwriting. To reflect these big commitments, you can increase your protection periodically at the following times:
Note: The optional benefits above are applicable prior to age 60 years next birthday. Terms and conditions apply.
Your money goes further with high investment allocation Best of all, the plan maximises your investments by allocating 95% of your premium to unit funds. The performance of your investments will contribute to the total investment value of your plan. Top up at any time for greater investment opportunities The plan allows you to top up the investment value of your policy whenever and as often as you wish. Each single premium top up of minimum RM1,000 injects a fresh amount of 95% of your premiums paid to unit funds. This allows you to enjoy the benefit of any potential growth in the value of your unit funds. Flexibility to choose and switch between funds To help you take advantage of the high premium allocation rate, the plan gives you access to professionally managed funds. You can pick the funds that suit your risk appetite and investment style. When your needs change later, you can switch your choice of funds. Protection that safeguards your loved ones' future Enjoy peace of mind as the plan makes the most of your money. In the event of death or Total and Permanent Disability (TPD), the basic sum assured or total investment value of the policy, whichever is higher, will be paid out in accordance with the provisions of the policy. Hence, you can be rest assured that your loved ones have the financial resources they may need to carry on.
Other benefits include:
Disclaimer:
The product information above is for general information only. It is not a contract of insurance. You are advised to refer to the Product Brochure, Sales Illustration, Fund Fact Sheet, Product Disclosure Sheet and sample policy documents for detailed important features and benefits of the plan before purchasing the plan. The exclusions and limitations of benefits highlighted are not exhaustive. For further information, reference shall be made to the terms and conditions specified in the policy issued by Great Eastern Life Assurance (Malaysia) Berhad. | |||||||
About Protection Insurance
No. List of FAQ’s on Life Insurance
1. What is Life Insurance and what type of Life Insurance policies are available for you?
Life Insurance is a contract between the policy owner and the insurer, where the insurer
agrees to pay a designated beneficiary a sum of money upon the occurrence of the insured
individual’s death or other event, such as terminal illness or critical illness. In return, the
policy owner agrees to pay a stipulated amount (at regular intervals or in lump sums).
Types of Life Insurance policies available in the market:
Term insurance
Whole Life
Endowment insurance
Investment-linked
Medical and Health insurance
Life annuity plan
Supplementary rider/cover
Mortgage Reducing Term Assurance (MRTA)
* For further information on the types of Life Insurance policies, please visit
www.insuranceinfo.com.my
2. How does Life Insurance work?
For life insurance, a large number of people (called policyholders) pay some money
(premiums) into a fund managed by an insurance company. When someone in that group of
people suffers a hardship, he/she is given an amount of money based on a pre-determined
percentage from the fund to help ease the hardship.
3. Why should you buy Life Insurance?
Savings and protection are always the best reasons to buy an insurance policy. Also,
you could have a constant source of income once you’re retired when you purchase an
annuity product.
Whilst we always wish we are well and healthy, in case your earnings are reduced due
to a serious injury, illness or accident, you would have an extra source of income to
ease any burden on you or your family.
If you have dependants:
You need Life Insurance as a form of security to ensure that your dependants have enough
income after your demise which your dependants could use for:
Monthly expenses
Keeping up their standard of living
Children’s education
If you do not have dependants:
You can use Life Insurance as an investment tool. You can select either a savings policy or
an investment-linked policy to start your investment. Both policies have the potential to offer
you higher returns in the future. If you’re young, you may want to consider purchasing a
whole life policy as the premiums are low.
4. When to buy Life Insurance policy and how much do I need?
Buy insurance when you are healthy and buy it as soon as possible. Not because it is cheap
and affordable but to get protected when you are able to do so.
5. Can I buy insurance coverage when I’m not healthy?
Yes you could, but if you apply for life insurance when you are unhealthy, the tendency of
not getting insured by an insurance company is higher due to your health condition or you
would be charged more because of your health status.
6. Where to buy Life Insurance policy?
You can purchase a Life Insurance policy from:
Insurance Company
Life Insurance Agent
Banks (Bancassurance)
Insurance Broker
When dealing with an agent:
Always insist on seeing the agent’s authorisation card issued by Life Insurance Association
Of Malaysia (LIAM).
7. Which is the best kind of Life Insurance policy to buy?
In purchasing a life insurance policy, one should consider their own need for protection as
different people may need a different amount of life insurance. It depends on the individual’s
financial circumstances as it changes over one’s life cycle. Therefore, there is no rule of
thumb that can exactly tell you what products to buy.
This is why you should seek advice from a professional financial advisor who will undertake
a fact-find with you to evaluate your needs and then make the appropriate recommendations
ased on your own circumstances.
8. What is exclusion and what does it apply to?
The exclusion is a clause in an insurance policy whereby the insurance company would not
be liable for the losses resulting from the specified events. The exclusion clauses remove
the insurance coverage for the specified events that the insurance company chooses not to
insure.
9.
What would be the reasons behind an exclusion or exclusions?
Here are some of the reasons:
To exclude extremely high risks (such as the risk of accidental death due to
participation in hazardous activities)
To exclude risks which are unquantifiable (such as death associated with war /
terrorism)
To protect the insurer against anti-selection. Anti-selection is the tendency of people
who suspect or know they are more likely than average to experience loss to apply
for insurance than people who lack such knowledge of probable loss. Thus, not
uncommonly medical and critical illness policies have waiting periods included.
10. I’m having financial difficulties? What options can I consider to continue paying for
my premiums?
Reduce your premium payment:
You may want to consider cancelling one or more of your riders which will reduce the
premium amount to a range which will make your insurance premium more affordable.
Policy loan:
You may take a policy loan against the surrender value that your policy has accumulated
instead of surrendering the policy. Assuming that your policy has acquired sufficient
surrender value, your policy will still be kept in-force, and you will get your money upon
maturity, with the condition that the premium is paid using the policy loan. Please note that
interest on policy loan applies.
Converting your policy:
This option will allow the policy to be converted to an extended term insurance. By doing so,
your policy has now become a term policy with a sum insured equal to the original sum
insured less any policy loans. The available amount of surrender value determines the
uration of coverage. All of the original riders will be terminated and you are not required to
pay any further premiums.
Reduced sum assured:
One may also reduce their sum assured and change it to a paid-up policy based on the
amount of the surrender value available. With that, you remain covered within the original
period and you are not required to pay any further premiums.
Investment Linked Policies:
For investment-linked insurance policies, there is an option called 'premium holiday'. With
sufficient money built up in your unit fund, you can go on a 'premium holiday' during which
you do not pay premiums but still receive insurance coverage. This method is possible as
long as your unit fund has sufficient units that can be utilized to pay your premiums. Your
policy will only lapse once the number of units is exhausted. The consequences to be taken
account when considering this option is the depletion of the unit fund earlier than the
expected duration of time.
Investment Protection
No. List of FAQ’s on Investment-Linked Insurance(ILP)
1. How does Investment-Linked Insurance work?
An Investment-Linked Insurance policy offers you both investment and protection
elements. The premiums that you pay provide you with life insurance cover and part of
the premiums will also be invested in specific investment funds of your choice. As a
policyholder, you can choose how to allocate your insurance premiums towards
protection and investment subject to certain constraints. The insurance coverage
provided could include death benefit, disability and critical illness. The investment fund
is divided into units of equal value. The prices of these units are published daily in the
newspapers for you to track the value of your investments.
2. What are the risks of purchasing ILPs?
When you purchase an ILP, the investment risk will be borne entirely by you. The
performance of the funds is not guaranteed and the price of the units can rise or fall. If
a fund does not perform well, the value of your investments may be adversely
affected.
Since an investment-linked plan is linked to the unit price of an investment fund
(managed by the insurance company), the total value of the plan fluctuates with the
movements in the unit price. When the unit price falls, the value of your investment will
also reduce and vice versa. You may realise a gain or loss when you sell your units.
You may even get less than what you have invested.
3. Are investment returns from ILPs guaranteed?
No, the return on an investment-linked fund is not guaranteed. This is because the
price of the units that you hold may rise or fall depending on the market value of the
investment.
4. What are the differences between par policies; non-par policies and ILPs?
A 'participating' fund is made up of the premiums that policyholders pay for
'participating' policies. A 'participating' policy participates in allocations made from the
o. List of FAQ’s on Investment-Linked Insurance(ILP)
participating fund. The share of the profits is paid in the form of 'bonus' or 'dividend'.
Bonuses or dividends are not guaranteed as they depend on how the fund's
investments are performing, how many claims are made on the fund, expenses
incurred, the smoothening of investment returns etc.
A 'non-participating' fund is made up of premiums from 'non-participating' policies. A
'non-participating' policy is not entitled to any profits the fund may make but only to the
guaranteed benefits of the non-participating policy.
An 'investment-linked' fund pools together the premiums paid by investment-linked
policies and invests in a portfolio of assets to achieve the fund's objective. The price of
each unit in a fund depends on how the investments in that fund perform. The fund
may be managed by the insurer or external fund manager(s).
Talk to your financial adviser for greater clarity on the different types of policies before
deciding on what best suits your financial situation and risk profile.
Monday, 23 March 2015
Wanna know more about financial protection?
Wanna know more about financial protection? Go to this website to find out or stay for the latest update about financial protection in this blog :)
http://www.insuranceinfo.com.my/index.php?intPrefLangID=1&
http://www.insuranceinfo.com.my/index.php?intPrefLangID=1&
Sunday, 22 March 2015
Prudential Investment Insurance
PRUDENTIAL Investment
A cosy retirement. Your children's tertiary education. Your lifetime
dream of travelling around the world.
These are the things that many of us dream to achieve, or provide for
our loved ones in the future. However, many have compromised these lifetime
plans due to financial commitments and other obstacles.
Fortunately, you can now invest and be protected at the same time with
our PRUlink investor
account
A single premium investment-linked whole life insurance, the PRUlink investor
account is for those who prefer one-off investments.
The plan lets you choose from a range of six PRUlink equity, bond,
or managed (mixed asset) funds, depending on which fund best suits your
individual needs and risk profile. You also have the flexibility to realise
some of your cash values if you have a sudden need for it, and you can top-up
at any time.
This means you and your loved ones can enjoy the best of both worlds:
insurance protection and investment.
The PRUlink investor account gives you:
- Flexibility
to apportion your premium into any of the six available PRUlink funds, depending on your investment goals and risk
tolerance. 95% of your premiums will be used to purchase units in the
PRUlink fund(s) of your choice.
- Control
over your investments: Switch your investment between PRUlink funds at any time, for a small fee. Your first
switch a year is FREE. Top up your investment with lump sum payments at
any time. Or, make withdrawals or cash out your policy at any time.
- Opportunity
to start investing from as low as RM4,000.
- You
can also enhance the cash value of your plan with single premium top-ups;
your top ups can be from as low as RM1,000.
- Coverage on Death (for whole of life) and Total & Permanent
Disability (up to age 60); with benefits amounting to:
i. value of units in the policy, or
ii. 125% of
single premium plus 100% of top-ups less withdrawals, or
iii. RM5,000 whichever is higher.
The minimum single premium needed is RM4,000.
PRUlink investor account is a single premium
investment-linked insurance product. With a minimum of RM4,000, you can start
investing in PRUlink
fund(s) of your choice.
AIA Saving Protection
AIA Savings
BENEFITS
A-EnrichGold offers you:
Short Premium Payment Term
- Just
10 years of premium payment allows you to enjoy benefits of up to 25
years.
Increasing Guaranteed Cash Payments
- Increasing
Guaranteed Cash Payments are payable every 2 years starting from the end
of 2nd policy year, and it
increases from the 11th policy
year onwards until maturity.
|
End of Policy
Year
|
Guaranteed Cash
Payment
(% of Sum Assured) |
|
2
|
5%
|
|
4
|
5%
|
|
6
|
5%
|
|
8
|
5%
|
|
10
|
5%
|
|
11 to 20 (yearly)
|
8%
|
|
21 to 25 (yearly)
|
12%
|
Guaranteed Maturity Value
- When
your plan reaches maturity, you get a guaranteed sum of 120% of your basic
sum assured.
Potential Growth on Funds Invested
- You
can enjoy potential investment gains via AIA Investment Funds.
- For
every premium amount paid, 30% of the premium (excluding loading, if any)
will be allocated to A-Plus Enhancer. This amount will be used to purchase
units in your chosen fund(s) at 95% allocation rate.
- Up
to 4 AIA Investment Funds of varying risk profiles are available for you
to choose from.
Flexibility in Savings
- You
have the option of topping up your savings when you have extra money.
- You
can withdraw the money when you need it.
- You
can also switch your funds according to your risk tolerance level.
Insurance Coverage
- Coverage
on death and Total Permanent Disability (TPD)1
Additional Insurance Coverage Due to Accident2
- An
additional 100% of the sum assured shall be payable upon death or TPD
caused by accident.
1 Coverage for TPD is up to age 65. 2 Coverage for
accidental death is up to age 70 while accidental TPD is up to age 65.
For more information on AIA Investment Funds, please visit our newly enhanced Investment-Linked Funds page.
Important: This is purely a product summary. Please refer to the policy contract for further details.
For more information on AIA Investment Funds, please visit our newly enhanced Investment-Linked Funds page.
Important: This is purely a product summary. Please refer to the policy contract for further details.
COVERAGE LEVELS
|
Entry Age
|
14 days to 65
years old
|
|
Minimum Sum Assured
|
RM 15,000
|
|
Coverage Term
|
25 year term
|
|
Premium Paying Term
|
10 years
|
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