Buying Insurance

Buying insurance for your family and you is a life commitment. It is not something that you pay today and the policy itself will continue given the protection to your family and you.

You have to pay the premium due on regular basis. The Insurance Company will give you:
1. Policy Contract which all the details stated inside it in Policy Information Page:
i. Policy No
ii. Age next Birthday
iii. Sum Insured
iv. Policy Owner Name
v. Life Insured Name
vi. IC Number
vii. Payment Mode which you have to pay on regular basis except for Single Premium Policy. It can be Annually, Semi Annual, Quarterly or Monthly based on your option which you have to remit the payment of premium until Maturity
viii. Policy Commencement Date
ix. Policy Maturity Date
x. Details of basic Plan and Riders on the Premium and Sum Cover
xi. Copy of Application form which duly completed, signed and witness

2. Definition Page

3. General Provisions

4. Premium Provisions
Please take note on this section because it is related to the premium payment for the policy. You should make the make regardless you received the Reminder Notice from the company on the premium due because the Notices or Letters send by the Insurance Company is a value added services.
It is your responsibility to make a payment within 30 days from the Next Due Date of the policy as stated in Policy Information Page regardless you received any notification or not.
That is a reason why I said that buying Life Insurance policy is a life time commitment.

5. Non Forfeiture Provisions

6. Other Provisions which related to the Policy.
Please refer to your Policy Contract. If you are not sure on the status of the Provisions attached, please refer to your servicing agent or call the Customer Service of the Life Insurance Company.

It is an intangible asset which you cannot see or touch… except that you have the Policy Contract where all the terms and conditions of the policy stated inside it. You have to keep the Policy Contract in the safest place until maturity of policy.

Life Insurance Policy help you for saving, protection for your family during tragedy, retirement benefit planning, to cover for your medical cost and so on.

You will not realised the importance of Insurance until you face the difficult time in your family!
Make a wise decision now for your loved ones and you for future protection!