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Insurance Planning Malaysia

4 Basic mistakes about life insurance.

When we talk about life insurance, many people say things are not right. It’s probably based on the stories of people around them about life insurance. However, do you know the importance of this life insurance for you and your family? Here, we list some of the mistakes people make about life insurance.


  • Don’t understand insurance differences.


There are 5 types of insurance:

  • Participating Life Insurance (Endowment Plan)
  • Non-Participating Lifetime Life Insurance
  • Periodic Insurance Plan
  • Depreciated Term Insurance Plan
  • Investment-linked Insurance Plan.

Identify the type of coverage you need or can ask an insurance agent to avoid this error.


  • There is no clear goal.


Why did you buy life insurance? Typically for this question:

  • Protect your loved ones in the event of any harm to yourself
  • Protect yourself against permanent disability.
  • Make financial savings.
  • Make it an investment.

Before deciding to buy insurance, always ask yourself, what did you buy? The answer to that question can be a guide for you to choose the right policy.


  • No one wants to be protected.


This is a common mistake for most people. Many assume they have not yet established a home or may not have family dependencies and do not need life insurance. What they don’t realize is that they have a permanent disability or a critical illness.


  • Take too much insurance.


One of the biggest mistakes is taking too much insurance. They may think that everything needs to be protected. However, some have made the wrong move as a result of the high fees and the burden on them. Therefore, it is important to identify what kind of protection you want first.

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