Reading insurance policy

Hello. Do you read your insurance policy? Honestly, I just want to read the insurance policy after reopen my insurance. I’ve opened the insurance before but change to takaful because of religion cause. Luckily my insurer, Great Eastern Life has the takaful version so it is not hard to change it.

 

I’ve reopened the insurance on 26th April 2012 in age 34. Maybe it is not young to start a new insurance account (I’ve terminated my last insurance and get RM7K saving after paid for almost 7 years) but this is for my own purpose.

Even though I’ve started insurance almost 7 years ago but I don’t really pay attention about the policy and never read it. The latest of policy also not being read and today my hand just grab the book policy and forced to read it. Maybe one reason to read because I’ve an experience claim from previous insurance that not really make me satisfied. I’ve also trying to meeting with my insurance agent last Saturday but he no replied my sms. Maybe he has problem with his phone so I think it is better for me to know what benefit that I get with the plan.

Okay, I just read the first page of the policy book and this is the plan with some description

 

Type of Plan :…….. i-GREAT DAMAI

Basic SUM Covered : RM28,000

Basic Investment Contribution :  …….. monthly takaful contribution RM150.00

Event when the basic SUM covered will become payable : upon death of the person covered prior to the maturaty date of 26/04/2077

 

// That’s some summary of my plan.Not all written on the first page I wrote above. I’m not really know about the last point. 2077 is 65 years onward and dunno if I’m still exist in the world.

Hm.. There’s 3 fund including in my plan such as Dana i-Makmur, Dana i-Mekar and Dana i-Majmuk. There’s also RM72 service charge yearly or as revised by the takaful operator. Okay, it’s too many information to write in this entry. So, I think its better to stop write about the plan. The important to read is :-

  1. What plan I’ve open.
  2. Benefit that I’ve get if anything happen to me including maximum amount that can be claim.
  3. The disease that being covered to me
  4. Terms and condition
  5. The condition I can claim

I’m not expert but maybe there’s more to read. Anybody know?

 

p/s :- Sorry, today entry is more on my financial not your financial but still can be sharing. Maybe you have experience deal with the insurance and can be sharing here.

 

Do you have life insurance? Do you think that life insurance sold by agent/insurance company
Do you own a life insurance attorney? I think most of us don't have any

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