5 Reason Why is Life Insurance Important?

There are still a lot of cases whereby 80% of the population in Malaysia had yet to have any insurance policy for themselves. Life Insurance policy can help you in many ways, here are 5 reasons why it is important to get one.

Reason 1: Reduce Cost Life Insurance can help you to recover in the case of a loss, for example, Allianz will pay you in the event of death, total permanent disability, personal accident, medical claim or hospital income. However, today if you do not have any life insurance policy, you do not get to enjoy any of this benefit and to give you a preview of how insurance work.

Scenario 1: You have RM3,000 ringgit with no insurance policy and RM50,000 savings If in the event that you have hospitalized and the hospital requires you to pay RM40,000 for the surgery, you will have to fork out RM40,000 from your saving account and that incurred RM40,000 loss that you have worked hard to save up all these time for your house, dream car or even for a vacation.

Scenario 2: You have RM3,000 ringgit and save RM200 monthly with Allianz Insurance and has RM50,000 savings In this scenario, if you were to be hospitalized and you have saved RM200 monthly with Allianz, Allianz will pay the RM40,000 hospital bill for you and you need not to take out a single cent from your bank saving account. How great is that!

Reason 2: Replacement Income
In the event that for example, you are being hospitalized, you will be unable to work and this is whereby you are losing money because you are forced to rest in the hospital. Allianz Insurance will pay you pocket money for everyday you sleep in the hospital! Would you be able to find any company that would pay you to sleep in the hospital ? Moreover, in the event if you are unable to work anymore due to a horrible accident and due to a medical condition that you are not fit to be employed by any company. Allianz will pay you a lump sum of money as a Replacement Income for you to live on your life without having to burden anyone else financially to support you.

Reason 3: Peace of Mind
Life insurance will be able to give you a peace of mind that in the event of anything that happens upon you. You are rest assured that you are taken care off whether you are hospitalized, your medical bills are paid off. If you happen to have pass on, your immediate family will be able to enjoy a lump sum of money via insurance pay out so that you don't have to worry if you are no longer to able to live to support them financially, the insurance policy will be able to help you do just that.

Reason 4: Transfer Risk
Why take all the risk upon you when you can transfer the risk to the insurance company such as Allianz by just saving few ringgit with the company by getting a policy for yourself? Especially with the increasing cost of living, you can't afford to lose more money in the event of anything happening upon you.

Reason 5: Investment
Allianz Insurance can help you to save your savings for retirement or even for an education fund for your children. Take it as a force saving for yourself. You will be able to plan even better for your children and even for your retirement especially nowadays EPF fund are not enough to last through your retirement days. Should you require advise, you may call me @ 016 332 3290 *Keith Wong* for your insurance policy.