1 1 FINANCIAL PLANNING IN INSURANCE MADE EASY By Pg Hj Abd Rahman bin PDPH Jaludin Senior Insurance Planner Representing American International Assurance.
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FINANCIAL PLANNING IN INSURANCE MADE
EASYByBy
Pg Hj Abd Rahman bin PDPH Jaludin Pg Hj Abd Rahman bin PDPH Jaludin Senior Insurance PlannerSenior Insurance Planner
Representing American International Assurance Representing American International Assurance Co Ltd Co Ltd
Information provided in this presentation is Information provided in this presentation is correct as at 10correct as at 10thth March 2005 March 2005
<< U$IN $ENCE >>
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Disclaimer
Ideas shared in this presentation is
understood to be used at the discretion
of the employee. While every effort has
been made to present a constructive
financial plan, we will not be liable for
any monetary, physical or emotional
claims or whatever for any wrong use.
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AGENDA
Why People Need Financial Planning ?
5 Steps of Financial Planning in Insurance
Two Major Benefits of Insurance
Reasons for Financial Planning
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What Is Financial Planning ?
Saving Aside Your Money For A Certain
Good Priority For Your Future Needs
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How Financial Planning WorksIdentify
goals / Needs
GatherData Information
Design / RecommendAction Plan
Implement Action Plan
MonitorProgress
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Financial Planning ToolsThere are a number of ways to do Financial Planning:•Saving in TAP
•Buy Shares and Stocks
•Fixed Deposits
•Conventional saving in the bank
•Buy lottery / 4D
•Insurance
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Living NeedsFoodClothingHealthWater , Electricity, Phone BillsShelter Education for your childrenCarEntertainment ( Cinemas, outing, traveling
etc… )
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Total Permanent Disability Income
( Living Needs )• May result a person to lose his/her
Income and could not engaged to any kind of occupation.
• Your needs, dependent, liabilities and other expenses.
• Being disable is not cheap. It can become more expensive.
• Can you afford, if this happen ?
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Total Permanent Disability Income
( Living Needs )• Do you want to be Financially
Independent even at your worst time?
If yes, then If yes, then through insurance through insurance planning can help planning can help you be financially you be financially independentindependent
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Critical Illness Fund
( Living Needs )
Treatment Costs of Critical Illness
Cardiovascular diseasesHeart attack $5 k to 15
kCoronary Bypass Surgery $30 kValvular Surgery $30 k to 50 kPTCA $15 k
2020
Critical Illness Fund
( Living Needs )
Treatment Costs of Critical Illness
Cancer Treatment costsSurgery $15 k to 25 kRadiotherapy $20 kChemotherapy $20 k to 100 k
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Critical Illness Fund
( Living Needs )
Treatment Costs of Critical Illness
Kidney Dialysis
$2000 per month
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Critical Illness Fund( Living Needs )
• Medical Cost can be very Expensive.
• It can wipe off our hard earn money in the bank.
• Can you name anyone in your family, who could support you financially ?
BILLS
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Critical Illness Fund( Living Needs )
With modern technologies nowadays,
You may survive your illness, but without insurance planning, You may be dead financially !!!
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Hospital Bills ( Living Needs )
• Other Illness ( not Critical )• Admitted few days• Money ! ( First Class
Ward / Food expenses / Time )
• Hidden Costs
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Hospital Bills ( Living Needs )
Would you like insurance to reimburse back your money & time that you’ve lost ?
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Education Fund for Children
( Living Needs )• Have you started planning
for their future ?
• Do you know how much you would need ?
• How would you like to send your children without having to loan from the bank ?
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Education Fund for Children
( Living Needs )Through Saving in Insurance, even in the event of Premature
Death, Total Permanent Disability or Diagnosed for a Critical illness,
Your Dream of Saving for your Child Education is Continued
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Capital Accumulation
Through
Insurance, You
Can Do
Investment and
at the same time
provide Income
Protection For
your Family
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Capital Accumulation(Many Reasons)
• Retirement Fund• Business Capital• Purchase or build
your dream house• Children’s Education
Fund• Wedding Fund etc….
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Beneficiary’s Needs
Living Expenses – Spouse, Children & Parents
( Food / Clothing / School Fees / Maid’s Salary / Hire purchase etc… )
&Outstanding Bills – Liabilities( Credit Cards / Owe someone’s money
etc…)
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Family Income Protection( Beneficiary’s Needs )
Can your Spouse or Parents afford to take over your
Responsibilities ?
What about your Children’s needs ?Their Education, Food, Clothing and other
Daily Expenses ?
Nowadays Husband and Wife share financial responsibilities
SACRIFICE LIFESTYLE & LUXURY ?
3333
Education Fund for Children
( Beneficiary’s Needs )If you are no longer around, can your spouse afford to continue
saving for your child’s education ?
If this happens, Insurance Can Continue saving for your child.
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1/ Family Problem
2/ Suffering for Kids3/ Heavy Borrowing & Inability To
Pay4/ Mental Agony & Poor Health
5/ Look Down in the Society
6/ Dependability on Charity
7/ Burden To Someone Until Death
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• Family Income Protection• Total Permanent Disability
Income• Critical Illness Fund• Children’s Education Fund• Retirement Fund• Business Capital / Investment• Build your Dream House• Estate Duty Planning• Children’s / Your Wedding Fund
(!!)
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