I have the joy of having well-wishers from relatives, friends and colleagues every time we have another child. Some who work as insurance agents would have placed our contact numbers in their PDA or cellular phones. The moment our child is born, we would receive a congratulatory SMS and we are delighted. After the full moon when the child is a month old, they would also send us a gift set from J & J or a fruit basket.
Then comes the questions.
1. Do you know you need to save for your children?
2. Do you know they may need a medical card (health insurance)?
3. Do you know they need proper education overseas?
4. Do you know your EPF is insufficient for their future?
That's a whole lot to think about. It's probably true what they say. I took a look at my paycheck and sighed.
The reasons were:
1. My pay increase is only 4% but I am working doubly hard to make the sales!
2. Petrol prices and 'makan' cost has gone up significantly
3. Cost of dressing up and feeding (milk powder) my children has gone up
4. I have to pay for 2 in the Montessori and 1 at the baby-sitter's place
5. My car is going to be due for maintenance and change of parts
6. Utility bills have shot up with price hikes and increased usage
7. Internet connection is still as slow but bill is still as high
8. My family vacation is long overdue
Hmmm! Hold on a bit while we get our bearings adjusted. Sorry we can't always let them plan our 'investments' but a reliable and trustworthy agent would be helpful. Thanks to all the people who have serviced our accounts from Great Eastern, Hong Leong Assurance and Maybank Etiqa! You're probably right that we need to plan our finances too!
Our parents did it and raised 3 children. Why can't we do the same? Don't we all have to live by faith as always?
Links of interest:
Insurance policy;
Manage your money
Employees Provident Fund;
PDA Reviews
Bank Negara: Insurance Information
Thursday, November 22, 2007
To insure or not to insure?
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1 comment:
Hi I was bloghopping/searching for something on google for what I don't recall anymore (ha ha) but somehow I came upon your blog. It's quite rare to find dads blogging, tis usually the moms. :) So it was quite a nice change. :)
Anyway I so agree with you on the insurance plans for the family and our children. If we for one follow exactly as per our agent's advice as what the perfect package is for our children after taking into consideration inflation and what not bla bla, we would not have enough to eat and our kids would not be able to enjoy the extra activities or a decent family holiday..! Really, we'd be slogging just to save for their unknown future, for them to enjoy without us around most likely! ha ha And what's left for us now would be nothing much. You're absolutely right, we just have to have some faith in this life. If you have that extra dosh to put aside for insurance (more in terms of subsidising) then by all means do so. The rest, might as well make good use of it WITH your family NOW. So go hv that family vacation that is long overdue. :)
ps: sorry abt the lengthiness of this comment. ;P
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