Had a discussion with an ex-banker yesterday. He shared a wonderful information that there are over RM30b unclaimed insurance fund with the government. I am not sure how accurate the figure but.....
What if your surviving spouse or children (in case both you and your spouse departed prematurely together) unable to trace the policy you have bought?
If the beneficially is 100% your spouse and your spouse dies together with you, how does your child get immediate fund?
What if the surviving spouse takes all the money and ignore your others that you also love?
All above scenarios are possible and may happen to any one of us, therefore, diligence planning is vital.
1. Put a few beneficially, even 10% for parents also good enough.
2. Store all policies together
3. Summarize the policies you have bought ..... easy to refer and review in time to come.
4. Put down contact numbers - ask the agent's superior name and contact too, just in case he/she left the industry prematurely.
How to Get a Higher Pay?
1 day ago