Planning RM100K fund for your children / kids?


Early stage of marriage, many of us struggling to get the stable financial phase. Find a decent house, allocation to furnish the house, good car ( at least 2 cars if the couple are working ), more money needed when you have a baby.

My friend married at young age (25) , just get a new car, new fully furnished renovated semi d house. How he managed that?

His parents do savings for him since age 1 in insurance plan. Age of 18, his fund is around RM95K. The parents didn’t withdraw the fund as he have scholarship. The fund continue to grow and more savings added regular basis.

Age of 25, the fund grow to RM125K. As he married now, he withdraw the part of the fund for his need. Cars and house. His financial is good and stable.

Im so jealous! I wish my parents do the same thing to me. By the way past is past, now Im a father. I sign up investment link plan for my baby (PRUmychild).

RM200 a month. Comprehensive plan. Life Insurance + Critical Illness + Accidental + Medical Card + Savings.

With this plan, my baby hospitalization covered by Prudential and unthinkable happen is insured. Plus, im expecting education fund RM100K upon age 18 or continue there will be RM130K age 25.

Life is a struggle, I am struggle financially in early stage of my career, early stage of my of marriage, early stage of my fatherhood and early stage of my business. Hope this savings plan will aid my son’s financial journey as an adult.

22 responses to “Planning RM100K fund for your children / kids?

  1. can i know about the retirement plan.

  2. lucie liana maidin

    Please advise me for PruMy Child.
    My daughter is 7 years old this year and i haven’t got any plan for her as in health as well as her study. Any recommendation?
    Anyway am a single mother which have to take care an elderly, so my budget for the plan shall not too expensive.
    Awaiting for your advise.
    Thank you

  3. Hi please advice me on PruMy Child.
    My son just 46 days and my daughter is 1 year 9 month, so I planning to take insurance for both (in health and study). Any recommendation form u and I need the best plan that not too expensive for my kids. or do you have any plan that cover us one family. Awaiting for your advice. Thank You.

  4. With 125k and the son can afford a house with a car? I find it rediculous (and the pictures shown is misleading). What is the evidence that his financial status is good and stable?

    Life Insurance – you are not going to enjoy it…

    Critical Illness – hard to fullfil all the criterias….when fullfiled, your chances of dying is very high. Out of 36, only less than 5 diseases are common like heart attack, kidney failure, stroke & etc. Others are very rare – can consider none.

    Accident – maybe you need it, but wondering does child really need it. Why don’t drive carefully. >80% of accident are driver’s fault, not accident.

    Medical card – the most probably benefit you may get, but because of high medical fees charged with a small illness. Is is justified? e.g. diarrhoea admitted for 4 days with nothing done and the bill out with almost RM4k. A lot of peoples use the quota for unnecessay and minor illness (viral fever, diarrhoe and others) and by the time they need it most (operation)….not much left.

    Saving – only worth it when you save it for long time and not withdraw it. Says 20 years….if you unable to pay later, would the cover still remain? It is a long term commitment, can you do it?

    My advice is learn and read all the black & white in the agreement. Verbal agreement is not valid. Buy only what you need. Once you discontinue the insurance….all the money you paid so far are gone.

    • zetamiprudential

      1. RM125K for house and car deposit. I didnt say cash.
      2. I didnt saya RM125K from the life insurance compensation.
      3. Critical illness, well my post for critical illness shown that people need and can fulfill the criteria. Critical illness is not near death illness. My client still survived till today. Alhamdullilah.
      4. Accident compensation is not mean to be car accident only sir. Work accident, at home accident, and etc.
      5. Thats why our lowest medical card with RM50K per year coverage and can go up to RM150K per year. If still not enough go for annual limit waiver which go RM1.5 mil. Still not enough???
      6. Yes, it is long term commitment. As long as you live, you keep paying. Thats called protection.
      7. Yes, verbal agreement is not valid. good agent only present and convince prospect from the policy documents. Not from what the agent think.

  5. Sir…if a person use RM125k just for buying house and car deposit only. I believe his live will be miserable as he has to work very hard to pay for the subsequent installment of the above items.

    For critical illness, how many percent of predential customer got claims from it. I believe is <1-2%. The chances is lesser than the car accident on the road. Your client is one of the lucky person as he/she is still survived.

    Medical insurance – why you need up to 1.5 million? This premium is also a heavy commitment. Because of uncontrolled billing from the private hospital and lack of monitoring from the insurance company. This will push the medical fees even higher. Next generation will definitely pay higher premium for sure.

    Saving is not a protection. Saving in insurance is a long term lock down of your cash flow. As you are unable to use it when you need it in short term.

    With critical allowance, saving insurance, medical insurance, life insurance and others. The parents are going to undergo a miserable life by just paying premium in long term.

    I have many friends who failed to claim critical insurance despite her friend fullfiled the criteria but because of the important 'word' is not mentioned in the medical report. The insurance company didn't want to pay (this is just one sad example).

    • zetamiprudential

      1. Your statement is without a basis as you didn’t know my friend income and other financial profile.

      2. Critical illness percentage is even higher than car accident sir. You think more car accident as car accident get more coverage in media. Critical illness is not a news which should be in media. Most person who are having critical illness is hiding the info from everybody except close friends and relatives.

      3. Why you never satisfied? Everything is negative from you sir. Too low coverage you complaining. Too high you still complaint.

      4. I have near 1K clients so far. Most of them is parents. They happy to pay it and it is not a burden as insurance is a must. Like in USA, medical insurance is a must. I have lots of foreigner clients here. First thing when they reach Malaysia, is to purchase Malaysia’s insurance policy. But in Malaysia, many still ignorance and negative about insurance.

      5. Yes, why the word didn’t mention the in the medical report. Because the doctor know better. For example, my client is having a “heart attack”, who say it is a heart attack? The wife said it is a heart attack, the son said it is look like a heart attack, the client think he having a heart attack. But when go to the hospital the doctor said just a muscle cramp. Hence the report said it is just a muscle cramp. So, you will get the critical illness compensation? The answer is NO. But the client said , im having a heart attack. I asked back, said who? Only doctor credible to say it is heart attack.

  6. Dear Sir….I’m not mean to be negative. I just want to point out the reality that happened everyday around us. Not all agent is as good as you. But your comment also sounds positive to be true and not telling everything. Why paying with medical bill is higher than paying with own cash? I guess not only doctor, layman like me also heard that quite a lot.

  7. Very negative person..

  8. We all dont wish to get sick n involve in accident. Thats y a insurance coverage is very important, even though as mention above the accidental rate is very low in a person’s life…but can anyone GUARANTEE it wont happen? as a responsible person/parent/children…we should protect our love one. Regardless from which company, i belive protection is IMPORTANT!

  9. Taliwork…if u dun believe or might be u gone through bad experience before, im felt sorry for u…but do u still allow ur child/niece/nephew to be send to school even there news about TEACHER rape case?

  10. I realized that insurance company only interested to offer their medical policy to those who are “very healthy” but if you have slight of problem with your health (i.e high but under control bp and cholesterol is very common this day) either they will decline your application or make the premium very high so that the person will retreat. This is how their make business because end of the day only few of those who having medical policy actually submit their claims.

    • zetamiprudential

      Yes.

      Im sorry sir.

      Many oil and gas staff never realize the important of medical card as they have good health coverage from the company. I approach many oil and gas staff, I got many rejection and excuses. They also laugh at me, why need to have another medical card.

      And upon retirement then they start to think about personal insurance. Then it is too late. Premium will be high for older person.
      and no insurance company will be accepting person with illnesses.

      Insurance is a protection. Sign up when you are healthy and if anything happen to you, we will cover you.

      Insurance is not a welfare company, accepting people already sick and really need our help financially to pay their bills.

    • Jo… I would suggest you to learn and practice healthy lifestyle. Read carefully the terms & condition. Compare more insurance companies. The worst is when you buy it but you can’t claim it when you need it (worst senario). Anyway, your health is in your hand and better do it early. Insurance also want to make money.

      Read this http://www.thestar.com.my/news/story.asp?file=/2010/12/28/nation/20101228170839&sec=nation

  11. Salam,

    1. Saya dapat email dari En Amirol ttg Prudential. Saya berminat dan email pada dia. Ada feedback! Saya nampak dia rajin.

    2. Saya minta dia datang office, panjang lebar dia terangkan. Saya dan kawan saya tanya macam-macam. Oh, dia tau serba serbi kerja yang dia lakukan. Walaupun kenal di emel, cara dia bercakap macam kita dah kenal lama dengan dia.

    3. Saya tertarik, mestilah, as customer kita nak setiap persoalan kita ada jawapan (cara penyelesaian). Dan saya ambil 2 plan. Satu utk saya dan satu untuk anak saya.

    4. Saya baca setiap satu plan yang saya terima (xpenah saya baca term-term insurance yang panjang berjela) tapi PRUDENTIAL plan mmg senang faham.

    5. Satu ayat yang saya tanam dalam diri pesanan dari En Firdaus ‘Jika jaga kesihatan, sentiasa berhati-hati dari kemalangan,tak pernah claims apa-apa, awak akan dapat balik duit yang awak simpan ini.’ ( If terjadi nak buat macam mana, tapi saya percaya mencegah adalah lebih baik)

    6. Sehingga kini, saya dan keluarga, alhamdulillah, sentiasa berhati-hati dan menjaga kesihatan yang baik. Dengan simpanan yang ada pada PRUDENTIAL ini. Saya bertambah tenang. Kesihatan baik + Duit pun ada. Bagi saya itu lah ‘Health Care’.

  12. ABDUL BASET B ABDUL SAMAD

    sy seorang warga negara malaysia yang lahir di arab saudi . sy nak tanya adakah sharikat prudential nak kerja sama dgn arab saudi. sebab sy lehat ramai orang warga asing yang kerja di sana x dak jaminan insuran untuk mereka. kerana itu sy cadang untuk membuka cawagan perential di jeddah dan riyadh untuk memudahkan kita kerja di sana sy ada warga nigara arab saudi yang buleh memenjam namanya. untuk kita mumbuka cawagan prudential di sana as(siting patnar) sahaja

  13. salam,
    saya rasa taliwork ni negatif orangnya. asyik complaint. coverage rendah bising, coverage tinggi kena bayar mahal pon bising. sampai accident pon tak perlu nk coverage? ingat accident kereta je? kalau dia ni muslim tak reti percaya qada’ dan qadar? dari nak cari salah orang, baik perbaiki diri dan tambahkan ilmu supaya orang lain dapat manafaat. sebaik2 manusia adalah manusia yang banyak berguna/menyumbang kpd orang lain. bukan komplen.saya amik pru dari 2005,alhamdulillah tkde sebarang kejadian/sakit yang tak diingini. yang penting sediakan payung sbelum hujan

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