Anak-anak Perlu Dididik Tentang Wang

Anda perlulah mendedahkan kepada anak-anak tentang pengurusan kewangan bermula daripada sekarang. Ini dapat membantu mengurangkan jumlah perbelanjaan bulanan anda. Dengan harga barang runcit yang semakin meningkat, anda sememangnya memerlukan bantuan daripada semua ahli keluarga dan tidak terkecuali juga daripada anak-anak. Mungkin ada dalam kalangan ibu bapa yang tertanya-tanya,”Perlukah anak-anak diberi pendidikan tentang wang?”

1. Untuk menerapkan nilai dan asas yang kukuh pada anak-anak.

Mahu atau tidak, anda perlu mengakui bahawa pengurusan kewangan adalah satu keperluan, lebih-lebih lagi pada zaman sekarang ini yang semuanya memerlukan duit. Malangnya, ramai ibubapa yang gagal mendidik anak-anak mereka mengenai asas-asas pengurusan kewangan. Ini perlu diubah kerana mendidik anak-anak mengenai wang adalah sama pentingnya dengan mengajar anak mengenai perkara-perkara asas lain seperti memberus gigi, mencuci tangan sebelum makan dan sebagainya. Pengajaran yang paling penting untuk disampaikan kepada anak-anak ialah kepentingan menabung dan mengelakkan pembaziran. Ini perlu dilaksanakan demi kebaikan anda dan anak-anak anda.

2. Duit tidak turun dari langit.

Mungkin ada anak-anak pada zaman sekarang tidak menganggap bahawa mendapatkan duit itu satu perkara yang sukar. Semuanya dianggap mudah belaka oleh mereka. Cubalah bayangkan senario yang benar-benar berlaku ini – seorang anak kecil meminta ibunya membelikannya mainan baru tapi ibunya tidak mempunyai duit yang mencukupi dalam dompetnya untuk membelikan mainan ntersebut, lalu dia berkata “Mak tidak cukup duit nak belikan adik mainan ni”.

Si anak pula dengan lurusnya menjawab “ATM ka nada. Mak keluarkan sahajalah duit daripada mesin ATM tu”. Inilah fikiran kanak-kanak zaman sekarang! Menakutkan bukan? Bagi mereka, wang yang dikeluarkan mesin ATM itu tidak ada kesudahannya, dan anda boleh ke mesin ATM pada bila-bila masa sahaja untuk mengeluarkan seberapa banyak wang yang anda mahu.

Kanak-kanak akan melalui satu peringkat dalam hidup mereka yang menyebabkan mereka ingin memiliki pelbagai jenis benda. Mereka mahukan itu, mahukan ini dan macam-macam lagi. Mereka tidak sedar bahawa untuk mendapatkan wang, anda sebagai ibu bapa perlu bekerja keras. Tidak semua yang dihajatkan boleh menjadi milik mereka. Apabila anak-anak sudah sampai keperingkat ini, sudah tiba masanya untuk anda memberikan mereka pendedahan mengenai pengurusan kewangan.

3. Mendisiplinkan anak anda mengenai wang.

Salah satu pengajaran yang paling penting dalam usaha anda mendidik anak-anak mengenai pengurusan kewangan ialah anak-anak perlu mengetahui bahawa mereka perlu mempunyai disiplin dalan berbelanja dan menguruskan wang. Ramai ibu bapa yang mungkin menggelengkan kepala dan mengeluh sambil berkata, “Kanak-kanak sekarang bukan macam dulu. Bukan mudah untuk mengajar mereka supaya berdisiplin”. Anda boleh berbahas mengenai isu disiplin ini. Namun apa yang pasti ialah disiplin itu satu keperluan. Anak-anak perlu mempunyai disiplin, sama ada dalam konteks menyimpan wang dalam akaun simpanan mahupun sekadar dalam tabung di rumah. Apabila anak-anak mengenali perbezaan antara keperluan dan kehendak serta perlunya menabung, mereka akan mempunyai disiplin untuk menabung dan mengawal diri daripada membazir. Mereka juga akan berusaha gigih untuk berbelanja mengikut kemampuan diri.

4. Untuk mengelakkan anak anda daripada menjadi generasi hutang (generation debt)

Ramai anak-anak yang masih menuntut di universiti sudah pun mempunyai hutang yang perlu mula dibayar apabila tamat pengajian. Contohnya pinjaman pelajaran atau pinjaman Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN). Apa yang dikhuatiri ialah apabila memasuki alam pekerjaan, bukan saja pinjaman pelajaran yang perlu dibayar, tetapi ditambah pula dengan hutang kad kredit, pinjaman peribadi dan sebagainya. Jika hutang ini tidak dikawal, mereka mungkin akan dibelenggu hutang untuk tempoh yang lama. Keadaan ini mungkin akan melarat sehingga mereka sudah berkeluarga. Oleh itu, bagi mengelakkan anak-anak anda daripada ditimpa masalah seperti ini, anda perlu membimbing mereka mengenai perancangan kewangan sejak daripada awal lagi. - CRYSTAL WORLD CONSULTANCY 2011

Etiqa Mempersilakan...

Promo Etiqa @ Karnival Jom Heboh, Kota Kinabalu, Sabah.

Kajian Insurans dan Amalan (Ringkas) – Lloyd’s

Lloyd’s – satu nama yang cukup besar dalam perniagaan insurans di dunia. Dikenali juga sebagai Lloyd’s of London merupakan sebuah syarikat British yang menjalankan perniagaan insurans dan reinsurans, mempunyai pasaran terbesar di dunia dengan kutipan premium tahun 2009 direkodkan sebanyak £21.97 billion (RM109.85 bilion) setahun.

Apa yang amat mengkagumkan, selain daripada pasaran insurans dan reinsurans, Lloyd’s juga menguasai pasaran perbankan melalui Lloyd’s TSB (Truste Savings Bank) Plc., pengklasifikasi maritim melalui Lloyd’s Register Group, perkapalan dan kontena melalui Lloyd’s Register of Shipping dan Hapag-Lloyd yang beroperasi di seluruh dunia, jurnal tertua mengenai perkembangan maritime dan perkapalan yang dinamakan Lloyd’s List, rujukan undang-undang melalui Lloyd’s Law Reports dan khidmat guaman terkenal iaitu Lloyd’s Legal Firm. Kewujudan pelbagai industri dan pasaran yang dikendalikan oleh syarikat gergasi Lloyd’s dan sekutunya member inspirasi kepada kerajaan British untuk mewujudkan satu peruntukan undang-undang yang istimewa dan termaktub di dalamnya undang-undang perkhidmatan kewangan dan pasaran dikendalikan oleh Council of Lloyds yang dinamakan Lloyd’s Act yang digazetkan pada tahun 1871.

Sejarahnya bermula di Lloyd’s Coffee House, yang dibuka oleh Edward Lloyd pada 1688 di Tower Street, London. Ia merupakan tempat yang popular bagi pelayar, pedagang dan pemilik kapal yang singgah bertukar berita mengenai perkembangan perniagaan dan perkapalan. Mereka juga berbincang mengenai penyertaan pakatan dana insurans yang diuruskan oleh sebuah jawatankuasa. Setelah beberapa tahun beroperasi, Lloyd’s Coffee House menjadi terkenal sebagai sebuah tempat yang menguruskan insurans bagi kapal-kapal yang akan belayar di lautan. Bermula dengan perniagaan restoran, perniagaan Lloyd’s berkembang maju dengan keutamaan perniagaannya dikhususkan kepada insurans perkapalan.

Berkembangnya perniagaan insurans perkapalan di British memaksa kerajaan menggariskan peruntukan undang-undang yang dinamakan Lloyd’s Act pada 1871 dan dipinda pada tahun 1911 dan 1982 berikutan perkembangan perniagaan Lloyd’s kepada industry yang lain.

Di Lloyd’s, terdapat dua kelompok individu yang berperanan dalam mengukuhkan perniagaannya, Pertama, Members atau pemegang saham dan yang kedua agen, broker dan golongan professional yang menyokong Members dan mewakili para pelanggan di luar sana.

Broker di Lloyd’s berperanan seperti agen yang mewakili dan menjadi orang tengah bagi pelanggan dan Lloyd’s. Pelanggan tidak berurusan secara langsung dengan Lloyd’s kerana mereka perlu diwakili oleh broker yang diupah oleh mereka yang merupakan satu-satunya entity yang berdepan dengan pelanggan di Lloyd’s. Broker berperanan menentukan terma dan harga yang sesuai bagi sesuatu polisi melalui perbincangannya dengan pelanggan. Amalan ini diguna pakai dalam peniagaan insurans di seluruh dunia termasuk di Malaysia.

By Crystal World Consultancy.

ETIQA TAKAFUL SUMBANG RM237,900.00 KEPADA MADRASAH DARUL ISTIQAMAH

14 Mei 2011, Muar - Etiqa Takaful hari ini menyumbangkan RM237,900.00 kepada Madrasah Darul Istiqamah di sini, sekaligus menyediakan tempat kediaman dan kelas pendidikan untuk lebih daripada 130 orang anak-anak yatim dan kanak-kanak kurang berkemampuan serta penjaga dan tenaga pendidik mereka.

“Janji jenama Etiqa adalah menginsankan insurans dan takaful, di mana kami ingin menjadikan semua urusan perniagaan takaful senang dan mudah untuk para pelanggan dan orang ramai. Janji jenama ini digunapakai dalam semua aspek di syarikat ini, begitu juga dalam program komuniti kami. Kami juga mahu menjadikan kehidupan lebih senang dan mudah untuk mereka yang kurang berkemampuan dan memerlukan bantuan,” kata En Rohaizad Abdul Rahman, Ketua Pegawai Eksekutif Kawasan Selatan, Etiqa Takaful Berhad.

Etiqa Takaful turut menghadiahkan 2 unit pembersih air untuk memastikan agar penghuni-penghuni madrasah tersebut dapat menikmati kemudahan air yang bersih.

Program sepanjang satu hari ini bukanlah hanya mengenai sumbangan berbentuk kebendaan sahaja kerana lebih daripada 100 wargakerja Etiqa dari Kuala Lumpur dan Negeri Sembilan turut hadir untuk beramah mesra dengan penghuni rumah ini melalui pelbagai aktiviti seperti sesi berkenalan, sesi motivasi, acara sukan dan permainan.

Rohaizad menerangkan, ”Ini adalah salah satu aktiviti di bawah program Tanggungjawab Zakat Korporat kami yang telah dilaksanakan selama beberapa tahun. Di bawah program ini, kami menggunakan sebahagian daripada duit zakat tahunan kami untuk memberikan bantuan terus dan segera kepada institusi-institusi yang benar-benar memerlukan bantuan kami. Sejak program ini dimulakan, kami telah membantu lebih daripada 16 institusi-institusi kebajikan dan lebih 1,500 anak-anak yatim dan keluarga yang kurang bekemampuan di seluruh negara.”

Lebih daripada RM1.5 juta ringgit dibelanjakan setiap tahun melalui program ini dan bantuan yang diberikan kepada institusi dan keluarga adalah dalam bentuk rumah-rumah baru, asrama, bilik darjah, dewan makan, surau, dewan serbaguna, makmal komputer dan infrastruktur yang lain. Bantuan juga diberi dalam bentuk kenderaan seperti van, komputer, mesin jahit, peralatan permainan dan sukan, buku-buku, alat tulis dan lain-lain lagi.

Program ini menyaksikan lebih daripada 100 wargakerja Etiqa menjadi sukarelawan di setiap institusi dan pusat yang menerima bantuan di seluruh negara seperti di Paya Rumput, Melaka; Manjoi dan Sungai Siput, Perak; Permatang Pauh, Pulau Pinang; Merbok dan Baling, Kedah; Kota Tinggi, Johor; Tumpat, Kelantan; Kuala Ibai, Terengganu; Tawau, Sabah; Arau dan Kangar, Perlis dan banyak lagi.

Lebih daripada 300 orang tetamu telah hadir ke program hari ini termasuk orang ramai, wakil-wakil Etiqa dan juga wakil-wakil daripada pihak berkuasa tempatan.

“Kami percaya bahawa semua orang boleh memainkan peranan, tidak kira sekecil mana, untuk membantu golongan yang memerlukan dan kurang berkemampuan untuk menikmati kehidupan yang lebih selesa kini dan untuk masa hadapan. Kami berharap agar kanak-kanak ini akan dapat terus berkembang dan membangun untuk menjadi individu yang berjaya supaya mereka pula dapat menyumbang kembali kepada komuniti dan menjadikan dunia ini lebih baik dan bermanfaat,” tambah Rohaizad.

Untuk maklumat lanjut mengenai Etiqa, sila layari laman web kami di www.etiqa.com.my atau telefon Etiqa Online di 1 300 13 8888.

6 Daily Tasks For A Successful Agent

There is always a price for success in any business venture. Insurance selling is without exception. The price for success is to do things you are not comfortable with. You may experience pain by stretching yourself. You may need to make sacrifices in exchange for the success you want.

Successful insurance agents are aware of the price for success. They know the success of their business relies on their own efforts. They know they need a good work habit to assure their business success.

Highly successful agents organize their efforts and religiously execute their business activities on a daily basis. The following are the 6 daily tasks highly effective insurance agents do:

(a) Planning

Top performing agents can multi-task. They are very good at planning their day. They write the game plan. List out the tasks they want to accomplish. Get started and stay busy with the tasks they assign to themselves.

They are able to identify tasks that give them highest payoff and maximize activities that support their sales results. They structure their days in such a manner that they get the most out of every hour spent.

(b) Make appointment

The only reason why we do not have any appointment is because we did not make any in advance. We reap what we sow. If we don't make appointment, we have zero appointment.

To top producers, making appointment is a continuous effort. Telephone call is insurance agents' first contact with their potential customers. Knowing how to interact with prospects over the telephone can make a difference when meeting with them face to face.

They may have called many people, yet they can still remain fresh and enthusiastic. They know they have only once chance to create the first good impression. They do not manufacture enthusiasm, they are genuinely excited when talking to people over the phone.

(c) Face to face with customers

Insurance agents are always put to tests when meeting with their prospects. A number of skill sets are being evaluated when they are up close and personal with their prospects. Doing homework is a must prior to meeting with the customers.

Their ability to build trust with prospects, their tactfulness to move from one phase of the sales process to another, their creative way to arouse interest, their attention to details when listening to customers' concerns, their problem solving skills etc are all always scrutinized by their customers.

To high flying agents, the biggest contributor to success will be the amount of time they spend communicating with customers face to face. It is important for them to be in front of their prospects as often as they can.

(d) Getting referral

Top producing agents always have their pipelines filled with referrals. They always have someone else to see at the end of every appointment. To them, getting referrals is not a nice-to-do but a must-do daily task. That explains why they never run out of prospects.

To earn referrals, they make sure they do fantastic jobs for their existing customers. Successful insurance agents build solid relationship with their customers and delight their customers with quality service. In return, they are rewarded with good quality referrals.

(e) Stay motivated

Motivation is the fuel driving insurance agents to keep moving forward. Top performers are able to program their minds so that they can always stay motivated. Their positive mental attitude is one of the reasons why their customers want to do business with them. No one wants to buy from an unmotivated salesperson.

(f) Self improvement

There are days you do not make any single sale. So long as you carry out your sales activities honestly, you will never go home empty handed. There are always lessons you can learn from things you do.

Top achievers always look for opportunities for self improvement. Self improvement does not necessarily mean they have to acquire a new skill. A person can become smarter by learning what mistakes to avoid.

Commitment to improvement is the foundation of greater success. Star agents are always mindful that skills and knowledge is the currency for success. They don't mind to set aside a percentage of their income for personal development.

Successful insurance agents focus on building good work habit. They build habit by diligently carrying out the activities they plan for themselves on a daily basis. It is their habit that brings them incredible experience and achievement.

Habit separates winners from the mediocre.

Foreign workers: Insurance Scheme Unfair To Manufacturer

THE Federation of Malaysian Manufacturers (FMM) is strongly of the view that the government should abolish or at least defer the mandatory health insurance scheme for foreign workers.

FMM had submitted the manufacturing industry's concerns over the implementation of the scheme for foreign workers.

The policy, which came into force on Jan 1, has several issues that need to be clarified. Employers also face difficulties in complying with some of the provisions. As an interim measure to rectify anomalies, FMM has drawn up a list of recommendations, including that:

The government should not need to appoint approved insurance service providers, set the premium rate or stipulate the class of treatment for the scheme. The government should focus on the minimum policy coverage and the type of treatment to be covered.

The government, specifically the Health Ministry, should make public the criteria and process used to select and approve the 17 insurance service providers.

Employers should be allowed to negotiate with insurance companies of their choice. Employers already providing medical benefits to workers should be exempted from purchasing separate medical insurance cover from "approved" insurance companies.

As a case in point, FMM said one of its members, with 6,000 foreign workers, is self-insuring medical costs for its workers at a cost of RM150,000 per year, in contrast to having to pay fees of nearly RM720,000 per year under the compulsory insurance scheme.

The ministry had tried to justify the scheme by saying that government hospitals had accumulated large unpaid bills for services rendered to foreign workers. This may not necessarily be true.

The ministry should carry out a thorough analysis of the data on defaulters.

It could be that the main culprits were "illegal foreign workers, the self-employed, those employed by sub-contracting agencies or transient workers in the construction and logging sectors".

The new scheme is effectively, therefore, a subsidy by registered legal foreign workers to illegal workers.

The scheme is unfair to the manufacturing sector as most employers in the sector have already lodged a bank guarantee with the ministry.

It is inaccurate to assume that the scheme has the support of the affected stakeholders and could continue to be implemented because 110,000 foreign workers have reportedly purchased the insurance.

These stakeholders are likely to have been compelled to proceed with the purchase because they needed to extend the work permits of their foreign workers.

The FMM statement also said these and other issues could have been minimised through a more extensive consultation with all relevant stakeholders. There was no prior consultation with FMM.

2011/03/17

TAN SRI MUSTAFA MANSUR,

Federation of Malaysian Manufacturers, Kuala Lumpur

The Going Gets Tough For Takaful Industry

By Rupinder Singh

Published: 2010/09/08

Malaysia's takaful industry is expected to step up its performance now that an additional four operators have been issued licences to start business next year, said industry players.

Takaful operators were caught unaware last week when Bank Negara Malaysia announced four new licences instead of two.

"With 12 operators in the country now, we have to work harder to gain market share and profits," said an executive from a takaful group that has been in operation for more than 10 years.

Although Malaysia's takaful industry has seen tremendous growth in the last five years, it still lags behind its conventional peers in terms of total insurance market penetration and share.

It is understood that the penetration rate for takaful industry in Malaysia is around 10 per cent, compared with 40 per cent for conventional insurance.

Another existing takaful executive said the entry of four new players is against the spirit of consolidation that the regulator has been propagating.

However, he said the regulator may have decided to add more players since the Islamic banking and takaful industry has yet to command 20 per cent of the banking and insurance market share targeted by 2010.

Takaful fund assets comprise only 8 per cent of the total assets of the Malaysian insurance and takaful industry although it has more than doubled in this same period from RM5.87 billion in 2005 to RM10.5 billion in 2008 and RM12.4 billion in 2009.

Prime Minister Datuk Seri Najib Razak said last year that the liberalisation measures, including new licences, are in line with the provisions and timetable set out in the Financial Sector Master Plan (FSMP) announced in 2001.

The government said then that the measures are aimed at enhancing "inter-linkages to leverage on global developments in Islamic finance and reinforce Malaysia's position as an international Islamic financial hub."

In this context, it will be interesting to see how new takaful players would contribute in areas where there are gaps in the financial system and in which there are new areas of growth in the financial system.

The four new licences issued to joint ventures are between American International Assurance Bhd (70 per cent) and Alliance Bank Malaysia Bhd (30 per cent); AMMB Holdings Bhd (70 per cent) and Friends Provident Group plc, UK (30 per cent); ING Management Holdings (M) Sdn Bhd (60 per cent), Public Bank Bhd (20 per cent) and Public Islamic Bank Bhd (20 per cent); and the joint venture between The Great Eastern Life Assurance Co Ltd (70 per cent) and Koperasi Angkatan Tentera Malaysia Bhd (30 per cent).

Existing takaful operators include CIMB Aviva Takaful Bhd, Etiqa Takaful Bhd, Hong Leong Tokio Marine Takaful Bhd, HSBC Amanah Takaful (Malaysia) Sdn Bhd, MAA Takaful Bhd, Prudential BSN Takaful Bhd, Syarikat Takaful Malaysia Bhd and Takaful Ikhlas Sdn Bhd.

In addition, Malaysia has four Retakaful operators, namely, ACR Retakaful SEA Bhd, MNRB Retakaful Bhd, Munchener Ruckversicherungs-Gesellschaft (Munich Re Retakaful) and Swiss Reinsurance Co Ltd (Swiss Re Retakaful); and one International Takaful Operator in AIA Takaful International Bhd.

6 Simple Ways To Claim Hospital Benefit (for Takaful Mesra, Sarjana, Prima, Warisan & Medic Save

1. You need to be admitted at least one (1) day or receiving treatment at the treatment room for six (6) hours.

2. Once you out of the ward, get 'discharge note' that contains the date in and out of hospital, and diagnosis of disease you are experiencing. Only the 'discharge note' is needed to claim admission to the ward less than a week.

3. If you are admitted to the hospital for over a week, the 'medical report' to be submitted for review of the Etiqa Takaful. Application for a 'medical report' may be made to the hospital on payment of RM 40.00 and can usually be received within four (4) weeks.

4. Fill in the form of claims that can be taken from the nearest Etiqa branch or through your representative. Include a copy of 'discharge note' or 'medical report', copies of three (3) pieces of the front page of the policy and claim form has been filled (in Etiqa Takaful, which required only a copy, no need for the original policy).

5. Send to a branch near you. Cheque payments will be accepted through the mail to your current address in less than a month.

6. For any problems or queries about the status of claims, please call our customer service line at 1-300-13-8888 (Etiqa Oneline Contact Centre).

by Nur Amin Abdullah

Recommended Plan 2011 : Takaful Warisan

We all hope that our legacy and lineage will carry on into the future; and that our future generations will be well taken cared of. Etiqa Takaful understands this concern and wish. By taking into consideration your aspirations and hopes, we have designed a plan that helps you provide for those to come.

Etiqa Takaful Warisan is a takaful scheme that offers savings and coverage benefits which enable you to plan your finances for the wellbeing of yourself and the generations to come.

BENEFIT

Enables the continuation of coverage until the age of 88 years even though the contribution has stopped. This is the advantage of Etiqa Takaful’s products.

At the end of the contract period, the total sum of the Participant Account will be returned together with the profit sharing from the participant’s account and the excess of the Participant Special Account.

Participation of children aged from 6 months is allowed with a coverage of up to RM200,000.

Should total permanent disability happen, the coverage sum will be paid in 3 payments. 20% from the coverage sum and accumulated Participant Account as well as the profit from the Participant Account once the disability is confirmed, 40% at the end of the first and second year from the date of disability.

QUALIFICATION OF PARTICIPATION

Age limit : 6 months to 60 years.

by Nur Amin bin Abdullah

Etiqa Takaful Bags Awards In 5 Categories

Etiqa Takaful Bhd bagged awards in five categories at the second Takaful Annual Dinner and Awards Night yesterday.

It was named the Best Group Business Operator and the Best Bancatakaful Operator in two categories.

Adventurine Agency Sdn Bhd representing Etiqa Takaful won the Million Dollar Producer Award, while Zulkifli Othman, an Etiqa Takaful agent, took home the Million Dollar Agency Award.

It also won the Best Group Business Producer and Group Takaful Business for its partnership with Bank Rakyat.

BERNAMA

Parliament Issues - Increased Insurance Rates

Insurance should be a requirement for every person, not a burden. And each person must think who he is not forced to take insurance but he actually need insurance. If he was wrong here, all the statement after this will continue the mistake.

Why the need? Because in the history, if the vehicle is not covered by an insurance, the innocent victims will always be abused. Imagine that your car broken by others, and they eager to avoid by excuses such as no money to pay damages. At that time, who would be hard? Of course it was us. In my opinion, the issues raised by the members of parliament even though it's good, a statement of 'insurance company is the fraudsters' is too much and shows immaturity of them as members of parliament.

The issue of late release of the accident claims is not the insurance company's isseu. It was a legal issue. Let say, if you are the innocent party and those who was violate you did not want to plead guilty, who is the party that the insurance should be claimed on? If you claim on your policy, then you will lose the NCD (Non Claim Discount) that you intended to save on your insurance premium next year. If both parties do not want to plead guilty, the case had to be brought to the court. Who would bear the costs of the court? You? Of course not. All the expenses will be bear on the insurance company who try to help you to save your NCD. The court will usually takes time and it is a normal process. Because of this, sometimes it will continues for years, but what you have to pay before, you can actually get money back from the insurance company.

For example, if your car is missing, the police will investigate, and after six (6) months and the car is not found, the case will be closed. After that the police will give permission to the insurance company to pay compensation. So, there is no reason that the claim is said to be slow.

In Malaysia, an understanding of insurance is still in early stage. Therefore, the discussions of the insurance issue should be continued. Do not be afraid to meet representatives of the insurance, just ask what you do not understand .. but not run from them! Now there are many good agents and some agents have the qualifications and integrity and should be respected. Many insurance agents now have a Masters and Doctorate in areas of legal and financial management. Try can keep in touch with them.

The question of where the money go if we never had claim? Have we asked ourselves, from where the money claim of thousands of dollars that we claim when we only pay RM300 for renewing the car insurance policy? Actually the money is coming from the common pool (insurance funds). All moneys will be taken from the pool. What we pay for it were included in the fund. Thus, it is important for insurance companies to ensure that there is money in the pool and the money should always be there for all of its members to ensure there is no problem for the claim. The premium paid was accompanied by a fair and just, and was named equitable premium. The owner who has expensive cars will pay a high premium where the premium charge for a cheap cars is low. For example, the owner of the new Proton Saga BLM 1.3, only need to pay an annual premium of RM600 while the BMW 5 Series 2.5 owners will have to pay more than RM 6,000 per year premium. This is what equittable premium is all about. If you did not claim earlier this year the premium money is always there for you that would claim the next year or for other car owners who need to claim.

Replying to the issue of car insurance rates that are going up, everything has been studied for ensuring that the common pool is sufficient to last the next few years. You can see in the newspaper or at the police station, the rate of accidents and claims much improved in recent years and during this time many insurance companies incur losses until there is to be closed or merged with another company to breathe because of the common pool had suffered a deficit. For example, Takaful Ikhlas has joined with Allianz Insurance Company earlier in this year.

Actually, the insurance rates today was set by the Bank Negara Malaysia, not the insurance company itself. So it is not appropriate if the insurance company to blame. Imagine all the insurance companies in Malaysia were closed, what about our fate? Who will help? Friends? Even our siblings may not able to help.

Third party insurance rates are high? You are right. In fact today, the first party insurance is cheaper. You will not believe. I could please calculate later. For example, a friend of mine has been to the post office to renew the third party insurance for the his old Proton Wira and he was charged at RM500. At that time he did come to me. I help him first thought of the same insurance coverage for only RM298. There was a gap right? Always ask the right people, not the people like us. In my opinion, the increase of third party insurance rate is only to educate the public. Actually, on these day, no one should select the third party policy. Because this type of insurance does not cover the owner's car itself. In the past when I have not learned about insurance, I had an accident. My car fell off the hill. Thank God I am safe but what about the car? Crushed, but it can not claim damages because the insurance protects only the third party. I had to use my own money, amounting to nearly RM4000.00 to fix the car myself. If I bought a first party insurance, I should just save it for my family expenses for the future. I should only need to add another RM100 when renewing insurance for my car. At least I have some money aside to face unexpected disasters like that. So, stay away from the third party insurance, care about your future.

In this life we have been more time to improve ourself. Maybe there are two ways to deal with rising insurance rates for this last.

First, drive a car with attitude. Improve your driving in a safe, less-tempered attitude and stop the reckless driving. Remind other people around you as well. Remember, drive without the attitude will definitely happen sooner or later an accident. Do not believe? Try it ..
Our responsibility is to reduce accidents and therefore, reduce the insurance rates.

Second, maybe we can co-added income such as other friends who have been successful. We are together to learn from them so we can deal with not only the increase in insurance rates, the actual increase in inflation rates and petrol prices are tens of times the impact of rising insurance rates.

Integrity Comes First!

Nur Amin Abdullah

Senior Consultant,
Etiqa Takaful Berhad

BBA (Hons.) Insurance, UiTM