Choosing the right insurance policy doesn’t need to get as complicated as choosing a husband. Especially in the 21st century, choosing the right life insurance policy doesn’t need to be limited to just getting the necessary coverage, but getting rewarded for reaching milestones in our lives such as getting married, starting a family, and reaching the golden age

Starting with the basics – Understanding Your Needs

Identify Health Priorities

Simplest way to go about this is by identifying the illnesses that anyone in the family tree has. This increases your chances of getting it too. Look beyond your parents, like their siblings, your grandparents, and cousins. Then, identify an insurance policy that covers almost all of those illnesses, and more

Assess Financial Security

The rule of thumb is that if you’re the primary breadwinner, and you’re married, to have a coverage amount of 10x your annual expenses. But is this realistic for everyone? We also should be looking at the amount that we’re comfortable committing every month

Needs identified, identifying the policy for you

Coverage

Basics such as coverage amount of course should be considered. I’m comfortable paying RM300 a month, what is the coverage amount provided by insurance A vs insurance B? How close is this to my goal of having a coverage amount of 10x my annual salary?

Critical Illness

What are the illnesses that are covered? The more the better, but at the very least, does it cover all (or almost all) of the illnesses experienced by someone in the family?

What about… Perks?

If you already lead a healthy lifestyle such as going to the gym, and eating healthy, it’s always a plus point to be able to reduce the amount you’re paying for insurance, or get some form of cashback for it

Conclusion

The right insurance policy is the one that works best for you. The one that best meets your needs. But, like all articles, must have some commercial right? Here’s why we think this could be an option for you

A-Life Lady by AIA

• Critical Illness: Covers 188 known critical illnesses, but the ones that could be more relevant to a woman are breast cancer, uterus cancer, fallopian tube cancer, ovary cancer
• Coverage: 6 different packages starting from RM 50 per month, coverage amount of up to RM 300,000
• CASHBACK!!!: Get 3% cash reward (of coverage amount) when you get married and get pregnant; 12% cash reward (of coverage amount) when you reach the golden age of 55, and 150% (of coverage amount) when you reach the ripe old age of 80 years old
• Healthy lifestyle?: Tie this to AIA Vitality and you’ll get up to 50% cash bonus (of premium paid). Plus you get a discount of up to 55% for a Fitness First gym membership, 10% off when you get HealthyFood from Jaya Grocer, among other things

If you’re thinking, what is the right amount? Try our calculator!