Insurance/Takaful : What you need to know?

Salam :)

I did commented on Miza's blog about basic stuff of insurance/takaful that we need to know. Little did I know, I will received a lot of email asking about insurance/takaful. Siap ada yang mintak quotation. Ada yang tanya ape insurance/takaful I amek, so dorang boleh follow aje. Then, I decided to share it here what I know about this insurance/takaful thingy. So, takyah I reply sorang-sorang and hopefully will benefit others too. Sorry, for those who had emailed me, I'm taking a long time to write this up.

Bear in mind, everything that I share here is based on my personal point of view. I am not an agent, hence I don't sell the insurance. Sekadar berkongsi ape yang I tau.
Too much if I am to share everything here, so I share the basic thing that we need to know. I didn't encouraged for insurance (conventional) type of insurance, so I will just 'talk' about takaful. Shariah-compliant thingy.

Why do we need takaful protection?
We can't predict what may happen in the near future. We need a cushion to support us should anything bad happened.

I have unlimited coverage from my employer. Do I still need one?
YES. I do get unlimited coverage from my employer too. Siap cover my hubs and kids. Pendek kata, setakat sakit demam, accident, hospitalized (touch wood), I don't have to worry about the bills.

But, why we still need other takaful protection?
Kita mungkin sehat walafiat now, have a lifestyle bla bla bla, but what if critical illness (accelerated) suddenly hit us? Remember the story of my friend's husband yang suddenly got cancer. He had a healthy lifestyle, didn't smoke but Allah uji him with stage-4 cancer which is very rare in this world. There's no specialist about his cancer in Malaysia and around the globe ada 3,4 cases je macam dia. Unfortunately, he didn't have any insurance/takaful coverage for himself. He rely on company's unlimited benefit. Alhamdulillah, all the open heart surgery cost bear by the company. Even the follow up treatment, the company still support him till now. He's on long mcs. Tapi stiap employee entitled for 30-days mc per year (diff company, diff policy tau), then dah cukup 30 days, HR treated his case as prolonged illness. Till now, he still got full salary every month but after 6months tak datang ofis, gaji akan dapat half aje. Then, the next 6-months, quarter and lepas tu dah tak dapat gaji. Pendek kata, your service to the company have been terminated. In 2 years you totally lost your monthly income at all. Tapi kita hidup ada commitment kan? Potong separuh gaji pun dah patah kaki, mana nak bayar rumah, kereta, credit card, belanja hari-hari, belanja anak and the list go on. Atleast if you have takaful coverage, when you diagnosed with Critical Illness (CI), you get something to cushion your hard life. Don't think about yourself. Think about your spouse, kids and parents. Katala umur tak panjang kan, atleast our spouse/kids have money to survive. Bukanlah duet tu banyak sangat, tapi cukup nak buat modal nak start new life, especially yang pergi dulu tu the breadwinner of the family. Yep, kita yang hidup ne masih bekerja, masih duet masuk bulan-bulan, tapi commitment yang banyak yang mana selama ne share berdua terpaksa kita tanggung sorang-sorang kan? Kalau risau bila kita mati husband guna duet takaful kita buat belanja kawen dengan bini baru, letak penama nama anak. Husband as trustee ja. Kalau tak percaya husband jugak, letak nama parents kita as trustee. Mak ayah kita of course akan jaga duet elok-elok untuk cucu dia kan?

Let say ujian Allah bagi berliku sikit, lepas diagnosed with CI, kita bedridden. Umur masih panjang, tapi tak bole buat ape-ape. Setahun dua mungkin la larat orang nak jaga kita, lama-lama orang pun penat dengan godaan syaitan lagik kita jadi menyusahkan orang. Yes, I have a perfect husband, he will surely take care of me but I still rasa menyusahkan dia if he has to take care of me for years. And kita tengah sakit time tu, I think of worst case scenario of he needs other woman to take care of him. We cannot sure that thing kan? So, as a precaution, better have savings/takaful coverage in case time kita bedridden kita still ada duet. Nak suruh orang beli pampers pun kita ada duet nak bagi. Takla orang nyampah sangat kan? Dan katakanlah Alhamdulillah dapat spouse penyayang, tatang kita sampai akhir usia kita dengan baek, we still want to contribute something for the family kan? Nak tolong spouse kita support duet belanja rumah dan anak-anak jugak kan? That's why I believed takaful protection is important. Very.

What type of takaful coverage should I take?
There are plenty of products in the market. Seriously banyak. Firstly, ask yourself what do you want to cover?
1. Life insurance/family takaful - cover death and Total & Permanent Disability (TPD) due to natural death.
Mati disebabkan penyakit la.

2. Personal Accident (PA)- cover death & TPD due to accident. Contohnya, sebab accident ke, kena ragut. PA is way cheaper than family takaful. Dalam puluh-puluh je.

3. Critical Illness (CI) - Bank Negara have higlighted 36 CI. For the full list boleh google. Yang I ingat, sakit jantung, cancer and SLE. Kalau amek CI ne, selalunya monthly memang bayar mahal sikit. CI will usually attach dengan family takaful. Not that I know boleh beli CI alone. *I am from the industry, believed me customer sekarang memang datang office and purely asked for CI coverage. Sekarang memang ramai yang dah aware and demand for CI coverage sangat tinggi.

4. Male/Female CI - usually kalau amek CI biasa memang tak termasuk Female CI. Cthnya:Kanser rahim, payudara, prostat. This one pun attach with family takaful and memang kena bayar extra mahal sikit.

5. Education plan - ne utk anak-anak. Boleh beli untuk anak-anak seawal dorang berusia 14 hari. Education plan ne maturity dia selalunya sampai anak kita umur 22tahun. Macam saving + death & TPD coverage for kids la. Nanti bila anak dah besar nak masuk U, boleh amek duet takaful ne untuk belajar. Takpayah amek PTPTN dah. Cukup lah mak bapak dia je amek PTPTN. Haha. Most Edu plan akan reward kalau anak-anak kita dapat straight A's in UPSR, PMR, SPM and STPM.

Bagi I, the above 5 are the basics. Kalau nak ikot product kat pasaran memang macam-macam ada. Hospital Daily Benefit lah (ala, yang bila kita hospitalized, dapat duet per day tu) dan macam-macam lagik. Tapi yang bagi I perlu ada adalah those basics.

How much should I spend for the takaful coverage?
For me, depends on the budget. Macam I, I start buying family takaful first with medical card (most company offer medical card with family takaful plan) and I attached together with female CI. I pay RM174/month. Then, bila naek gaji sikit, I bought PA(to cover me in the event of death or TPD due to accident). I pay RM50/month. And Hospital Daily Benefit about RM54/month. I pun among manusia yang baru ada kesedaran on CI and bought another family takaful plan yang cover CI. Yang I bayar RM174/month tu, yang I beli first skali tu takde coverage for CI. Disebabkan staff rate, yang CI I baru beli tu dalam RM50 ja. Tapi coverage tak besar la. Nanti next increment boleh topup lagik. Dah kuar baby nanti, kena spend budget untuk baby jugak.

Eventhough dalam sebulan 300++ jugak for takaful coverage, tapi untuk masa depan jugak. Kadang-kadang tu bila tengah short duet memang rasa nak terminate ja. Tapi sabar-sabar. I fikir masa depan.

I belom masuk bab investment-linked (IL) insurance/takaful lagik neh. Sebab bagi I, IL ne untuk orang ada duet lebih ja. Hee. Bukan basic.

Ha...makin muda usia kita makin murah kita kena bayar. So, kalau boleh amek la takaful coverage awal-awal. Contoh la kan, I amek plan yang sama coverage dengan kakak ipar I. Tapi sebulan I bayar RM100 ja tapi kak ipar I kena bayar RM156 sebulan untuk plan yang sama, coverage yang sama. Sebab I lagi muda dari kakak ipar I. Contoh laen, anak Miza (bukan nama sebenar) berumur setahun, anak Lisa (bukan nama sebenar) berusia 4bulan, tapi Miza kena bayar lebih untuk anak dia as compared to Lisa eventhough they bought the same plan. Rate untuk laki perempuan pun tak sama. Female rate selalunya mahal sikit, due to mortality rate. Tapi kalau smoke, ada family history yang sakit, overweight memang selalu kena bayar mahal sikit la.

Ha..panjang bebenor. Harapnya I menjawab soalan dan kalau tak banyak sikit-sikit dapat la membantu bagi korang dapat idea pasal insurance/takaful ne. Sekali lagi ditegaskan, semua penerangan based on my own opinion dan apa yang I tau. Kalau salah mintak tunjuk ajar. Peace :)

Published with Blogger-droid v2.0.6