The Government of Malaysia has recently launched a new bancassurance product called Bijak Malaysia to all banks that covers death and permanent disability. It is a non-par insurance plan that means that they do not take your money to invest but more so, the way I understand it, it is like you putting your money into the bank except that here, you get the additional benefit of being covered should you pass away or become permanently disabled. There are many other insurance policies in the market for sure that will cover death and permanent disability so this is just an additional supplement to what you already have.

It is always good to diversify your money and coverage because you never know the future. We certainly never expected my Mother to get cancer. It is better to regret buying than to regret not buying and since my Mom had cancer, my brothers and I have insured ourselves with various plans to ensure we’re all taken care of. If you have 10 million cash in the bank, you probably won’t have to do that but how many of us have that? And what about the millions of people of lower income who suddenly get very ill or have a family death? It is for them mostly that the Government has come up with this new plan because you only have to pay RM100 per month for death and permanent disability coverage. Of course, you can pay more to get more coverage.

I have done the calculations and it is a decent plan. I have also checked with my expert insurance advisor and he said it was not a bad idea to get it as it is so cheap and yet covers death and permanent disability, and if the person doesn’t die, they get the money back. So this is how it works based on someone like T2:

We pay RM100 per month (many people can afford this) or RM1,200 per year up to the age of 55 (total of 52 years).

Every 3 years, CIMB-Aviva will return a cash back of RM1,875 (which is 5% of the premium of RM37,500).

If T2 has a natural death (God forbid!!!) at any time, we will automatically get RM75,000.

If T2 has a sudden or accidental death (GOD FORBID!!!), we will automatically get RM150,000.

At any time, T2 can withdraw the money that she has paid into the plan (or rather WE have paid), but if she waits till she is 88 years of age, she gets RM37,500 back. Of course, by that time, she might nominate that cash to her children or grandchildren or some charity of her choice.

It is a simple, fuss free plan and very straightforward. It doesn’t promise you big investment returns because they don’t invest your money. But, they promise to give you some extra cash should something unfortunate happen in your time of tragedy. I have experienced the pain…..the pain of experiencing it being better to regret not buying than to regret buying…………and I can assure you that it is very painful.

Be smart, think ahead and don’t be greedy. Plan wisely and take advantage of the attractive low budget Bijak Malaysia. The truth hurts but tragedy can strike at any time, to anyone, anywhere, without warning. It’s true.

For more information, please email mamapumpkin at gmail dot com with your phone number and a member of CIMB-Aviva will call you back.

 

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Who is Mamapumpkin?
Mamapumpkin is a former Design Architect turned Multi-Million Dollar Digital Entrepreneur. She sets out to prove to all that you can have anything and everything that you want; if you have that fire of desire burning within and the drive to work hard. Even better with much love.

Mamapumpkin has not only grown corporate businesses successfully in the past and doubled her salary 5 times over 5 organisations but has grown THREE BUSINESSES to 7 FIGURES within an 8 year period. She now shows others EXACTLY HOW after retiring her own husband from employment. He is now the official dog walker, family driver, chef and THE BEST FATHER to their two girls and THE BEST HUSBAND to the woman who CHOSE HIM!

Mamapumpkin is the girl who has nothing but fights for everything including YOU. She is idealistic in her desire to put unbelievable amounts of money and extrardinary happiness into the lives of good people so we can change the world together believing in happiness for ALL. She strives to impact lives authentically wanting to reduce poverty cycles and enable quality education for all and always supports the voiceless. She believes we can all have a life of our own desires to enable real contribution into the world. But first, one needs to understand what this all means.

A beautiful life without limits.

If you wish to learn how to propel your life forward guaranteed, be brave to take action. Mamapumpkin's purpose is to build people. Her gift is to help them UNCOVER their HIDDEN GIFTS. She operates fairly and always leaves an impression. You either love her or not and she is alright either way.

She is a living testimony that women really can have a lot. Being financially and time free has enabled her to travel the world anytime, anywhere, doing anything with anyone, as she spends most of her days with her children, having fun, supporting others wherever she can. Also having fun.