Insurance, Aiyoh … No need lah

Insurance! Aiyoh …! No need lah!

Is the phrase above sound familiar? I believe most of us have an experience with insurance companies’ representative, one way or another. They may approach you through telephone calls or they may approach you directly or through friend’s recommendation. Regardless, some of us will immediately engage into our defensive mode with response such as “I’m not interested”, “I don’t believe in insurance”, “I’ve got plenty”, etc. I can understand why people can be very defensive at times. They are just merely frustrated at times by the constant bugging of the insurance reps that may have caught them at the wrong place, wrong time and wrong people. Let’s just understand a little some of the frustrations here that can lead to big disappointment for some insurance reps. (I know how it feels before I became an insurance rep myself). One of the biggest frustrations that I have ever faced was when this particular insurance rep kept bugging me daily for 2 months without fail on his insurance company’s plan. This has caused me to think that this guy don’t have anything else better to do other than to call me daily. The next reason is my own personal opinion – I don’t quite seem to understand the concept of insurance and why I need it. And I think that’s the main factor for not taking up any insurance plan back then even though I was already working.

And why people don’t take up an insurance plan? And why I myself don’t have one back then? The answer to those 2 questions is this – They (including myself) don’t have any insurance plan is simply because they don’t understand the concept & importance of Life Insurance for them. The key phrase here is “They don’t understand”.

Let me ask you, if you don’t understand the concept of driving of a car, without any knowledge at all, would you dare to drive? Will you want to take the risk? I’m sure all your 5 senses will be very alert. But, should you understand the whole concept of driving, the fundamentals and the basic skills of driving (through a proper driving school of course), then it’s different. You will and can drive the car to where ever you want to go.

That’s the same way with a Life Insurance Plan. If today, an insurance rep come and tell you about his or her company’s insurance plan without telling you why you need it, you definitely wouldn’t take up the plan. However, if the insurance rep did a good job not only by doing a fine presentation on his company’s insurance plan but also did a good job by telling you why you need, the importance of having one or more and you understand it well with the compelling reason to have one, you would have act on it and sign it the proposal forms.

If today you understand the concept of Life Insurance well, by now you should own at least one insurance plan. But if you are reading this now, you have understood the importance of a Life Insurance Plan for yourself and you don’t have one, (aside from financial difficulties) – You still don’t understand the concept of Life Insurance yet. (Weird … Huh?)

In Wikipedia, the meaning of Insurance - in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium. Insurer, in economics, is the company that sells the insurance. Insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.
In other words, instead of becoming your own insurance company of which you insured yourselves with your own money (by depleting your savings), you transfer your risk to a real Insurance Company like Allianz and let them insure you by you saving a regular savings (premium) into an insurance plan (In this case, I recommend Allianz – PowerLink Plan).

If you still doubt, let me give you a scenario, if yesterday, you woke up and realized that your body don’t feel good as it normally does. Naturally you’d gone and saw a doctor. The doctor then did a complete medical checkup on you and upon examining, detected a lump on your body. Not wanting to take a risk, your doctor quickly referred you to a specialist doctor and the doctor gave you a thorough medical check up. Finally the specialist doctor confirmed after running some tests and diagnosed you with cancer – lung cancer. The specialist doctor then said “Sir, nowadays, the medical treatment in Malaysia is quite advanced. There is hope for you. The treatment does have quite a fair of success rate. If you want, we can start the treatment immediately. The estimated cost for the whole cancer treatment is RM 150,000.00. ARE YOU READY TO PROCEED?”

For a moment you paused. Probably, you may think, “How on earth can I get the lump sum of RM 150,000 for my treatment?” That’s when your problem may just about to surface and you start asking yourself, “What about my house mortgage? It’s been only been paid for 3 years! What about my two children, Nicky and Randy? They are still young! Will my wife has to look for a job to support the family when I’ m gone?” Questions after questions begin to play hard in your head. It seems, at that moment, there seem to be no hope at all. And at that particular moment, you asked yourself “What am I going to do NOW?”

IF YOU ARE NOT READY to face all that, then you should start thinking NOW while you are still got your health for an insurance plan that can help you and your family. There are 16 life insurance companies available in Malaysia and Allianz is one of them that you can choose from. If you really love your love ones, I urge you to take action immediately after reading this post. Remember, do not procrastinate. It will do you no good. Give your family member the peace of mind with your greatest love letter ever TODAY!