HAPPY NATIONAL DAY 2009

HAPPY 52ND MERDEKA DAY TO MALAYSIA

AND

WISHING EVERYONE GOOD HEALTH AND PROSPERITY.

MERDEKA

MERDEKA

MERDEKA

CHEERS

MICHAEL GAN

Speed is essential

Dearest buddies,

I had my followup checkup for my hypertension at UMMC with Prof Dr Khoo on 19th August 2009. My blood pressure reading is at 148-96 and 148-100, lower than the earlier results. Ask me to reduce my hypertension pills to Amlodipine Norvasc 5mg and to prescribe Perindopril 4mg tablets (half tablet a day - for cleansing my kidney or liver). Next appointment on 16th August 3pm. For your info, I was there at 1.35pm and there is a long queue and my number was number 18, by the time I completed my checkup and collected my medicine, wow the time is almost 4.15pm. Well it cost me RM15 to be there for almost 3 hours, if I go to a private hospital I believe the charges plus medicine should be around RM80 to RM120+ and the whole process will take 1 hour-the most (of course I can utilise my medical card) ..... just to remind you of the importance of medical card.

My taxi fares to and fro cost me RM20 - more costly than the above, of course I can opt for bus but again time will be the factor again. Sometime it is worth the money spent.

Cheers.
Michael Gan

I LOVE YOU ALL

Dearest buddies,

I LOVE YOU ALL. Read yesterday News Sunday Times 16th August 2009 and agreed with the writer Marc Lourdes title "Why hide love when you can show it every day" in page 21.

Life had been a total difference for me since recovering from my "BIG C". I see things very much difference from a normal person (for eg. I am always happy :-) now).

I still remember very clearly I am totally two different person back then (I am a very happy person at work O:-) - with the happy "mask" but back home I am totally lost >:-( because I lack the love from my parents - I am not blaming my parents for that). This is the fact of life, the way I chose to live my life previously due to some bad experiences.

Who don't have bad experiences or good experiences?

BUT now everything is PAST, I learn to live now and enjoy every seconds of my life. I am contended with what I have. I don't need a big house; I just need a comfortable house that can give me shelter. I don't need a big car; I just need a decent car that can bring me safely from point A to point B.

A lot of time we only think about materials things (land, houses, vehicles, jewels, luxuries and etc.) and justify our appetite by telling ourselves that it's for security, safety, a rainy day, etc. - extract from the newspaper

Oh yes I am going to write on "WHY INSURANCE?".

What I am sharing is not because I am an insurance agent but I as a "reborn" person.

You all receive my earlier emails about "PRIORITIES of Life Insurance", "Life Insurance is an ASSET" and "How much coverage is enough".

I went thru and now I realised my life insurance priorities was at number 28, the policies I bought is a liabilities to me (because I pay and I only get a set of document which I hardly touch or sometime not sure where I place it) and my previous agent never share with me how much I need to be cover (cos we were friends and I support them, I don't know what to ask them, I only know I go bust then it will benefit my next of kin, so I bought from them).

With my reborn VISION (educate all my friends and whomever I get to know the importance of Life Insurance) and MISSION (to educate everyone to think out of their box in how they view Life Insurance as one of their Top priorities).

I believe many of you think that I want to earn your money (with all this vision and mission - nonsense). Well, I will say YES, I earn your money but when nothing happen at maturity date then you will say "Why I didn't ask him/her to buy more?" or if something happen then you will also say "Why I didn't ask him/her to buy more?". This is because you will be the one getting the benefits ($$$) and not me (not even a cents from your benefits). What I get is the mere commission which throughout my entire life being I will be servicing you.

So the sooner you make appointment to see me, the sooner I can advise you accordingly. I will still be calling you all, look forward to share with you soon.

Cheers.
Michael Gan
019-3333632

Comment from my earlier post

Anonymous said...
Well, not to say the calculation is wrong, but once anyone gets struck by 36Ci, a big portion of the 36CI claims should have been utilized to pay off your hospitalization & medical bills, it leaves you not much to invest. So, what is your view on this.
August 10, 2009 7:05 PM

Above is a comment I received.
Sorry for the late reply, anyway better late than never ... right.

The claim received from the 36CI is meant for your daily expenses and not for hospitalization & medical bills(H&M). To cover this H&M bill, one must have a card call HOSPITAL MEMBERCARD, I bought this card and had utilized RM100K for my medical bills.

To know more about this card, please call, sms or email me.

Cheers
Michael Gan
019-3333632
mganil2000@yahoo.com

How much Life insurance is Enough

Dearest buddies,

This is base on my view about how much Life Insurance is enough ?

Take me as an example, I bought my Life Insurance with 36 Critical Illness as rider
Year 1998 age = 33 years old (the year I bought my policy)
Year 1998 monthly salary = RM2,800
Sum assurred = RM150,000 for Death or Disability (TPD) +RM50,000 for 36 CI

From age 33 till my retirement age at 55, what's the minimum income (Human Economic Values) I will earn over the next 22 years ? (assuming no increments or bonuses)

2,800/mth x 12 months x 22 years = RM739,200

I guarantee that I will earn this minimum RM739,200 on one condition, that from age 33 to 55, nothing happen to me.

CAN I GUARANTEE THAT ?

! If something does happen to me here, my minimum RM739,200 value become RM 0 almost overnight!
Something really happen to me in year 2005 and I make a 36 CI claims of RM54,000 and used up around RM100,000 on my medical card.

So how much insurance do I really need?

Logic will tell me that I will need RM739,200 of life insurance. However, not many people can afford that. I can't afford it for sure. So, what's the minimum sum assured that I need to aim for?

Minimum insurance amount recommended:

At least 10 years of INCOME

Salary x 12 months x 10 years
RM2,800 x 12 x 10 = RM336,000

WHY?

I should insured myself for at least RM336,000 because:
for eg. I was strike with 36 CI in 2005 at age 39, I should get RM336,000 critical illness coverage.
Invest the money - 10% annual return (assumption)

Therefore

RM336,000 x 10% = RM33,600/year = RM2,800/month

which is equivalent to my current salary

Therefore, in the event of a claim, I can withdraw a regular monthly income without touching my capital.

For Peace of Mind and everything that matters.

I'll always be here for you.

Cheers.
Michael Gan
019-3333632
PS this is the end of my initial education process on Life insurance, will update you all accordingly whenever I gain new experience

Basic principle of Life Insurance

Dearest buddies,

Understanding A Traditional Policy (most common product).

There are 4 basic type of Life Insurance :
1) Whole Life - Balanced
2) Endowment - Most expensive
3) Term - Cheapest
4) Investment Link - combination of unit trust and term

Basic principle of Life Insurance

Life Insurance => Would you agree that a Life Insurance Policy is an ASSET (similar to a house)? YES or NO

Answer is YES, it is an asset but an asset that would only be given to you on certain conditions. They are "Death" and "Total Permanent Disability".

To me it is just a piece of document, not like a property that it provide me shelter or car that provide me transport. When I bought my insurance from my friend, I did not really understand what I bought (that's me .... hee hee), I bought it because I trust her and support her. All I can think of is that when I die it will benefit my next of kin. Is this what you all are thinking when you buy insurance ?

In addition to this Life Insurance asset, you have the option to add riders or supplementary benefits, such as
accident (similar to a chair),
Hospitalisation & Surgery (similar to a table)
and 36 Critical Illnesses (similar to a closet).

They are likened to the furnishing in a property.

However these riders/supplementary benefits have 3 disadvantages :-
1) Age Limit - because as you get older are you getting healthier ? What is your risk of getting one of the 36 Critical Illnesses after the age of 55 ?

2) No returns - The nature of riders are similar to general Insurance products (ag. car insurance). You pay a premium, but at the end of the insured period, if no claim is made, the premium is forfeited. There are no bonuses whatsoever.

3) Redundancy
Scenario A (Year 2009)
In year 2009, if you were diagnosed with one of the 36 CI, how much will you be able to claim ?
Note: A critical illness claim is a one time claim event only.

Scenario B (Year 2029)
Assume nothing happens to you in year 2009. However, if u were diagnosed with one of the 36 CI 20 years later (year 2029), how much would you be able to claim? What is the value of claim in year 2029?

Have you ever heard of people complaining that the return from their policies are very low?

It could be because : They bought a small house (asset) but big furniture (riders).
As 36 CI strike me, the rider amount I bought was RM50K, and I get RM54K as part of my INCOME.

Similar to the traditional policies, the products also consists of an asset and its riders.
The good news is 36 Critical Illnesses are already included in the "HOUSE" (Life Insurance asset).

These differences will give you 3 advantages:
1) No Age Limit (87 years)
This means that the policy will mature at age 87, In other words, when you reach age 87, the whole house (sum assured) at its current value, will be payable regardless of your state of health.

2) RETURNS - Double Bonus
The first bonus you earn is from the house (asset) and the second bonus will come from the fact that you no longer have to pay for the 36 critical illnesses furniture, because it is included in the house.

3) HEALTH down HOUSE up
As the years progress and your health deteriorates, the value of the house (asset) will increase in value.

Summary of traditional and 2009 products

Traditional policies were originally designed to benefit your next of kin after you are gone - You will only get the money when it's too late!

This new type of policy is designed to benefit you while you are alive! - Wow Just in Time, you will get money when you need it most!

Therefore purchasing this policy is natural upgrade to complete your protection.

Cheers.
Michael Gan
PS Happy reading.

My latest photos

Wow clean shave, what do you all think ?

Not bad huh

Can lah, look younger and handsome loh hee hee

Cheers.