#Fincrew

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Insuran360 | Kenapa Syarikat Insurans Menaikkan Kadar Insurans Saya?

Mungkin anda telah bersama agak lama dengan syarikat insurans auto ini dan segalanya kelihatan hebat. Anda tidak menghadapi sebarang masalah dari aspek komunikasi dan apabila berlaku masalah, mereka akan segera menjalankan tanggungjawab mereka. Tiba-tiba anda mendapati bahawa kadar insurans kenderaan anda telah meningkat secara mendadak! Apakah yang telah berlaku?

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Malaysian Site For Car Insurance Renewal & Quotations Online

Malaysian Site For Car Insurance Renewal & Quotations Online

Being able to renew your car insurance and get road tax quotations online, amongst other things, is not a new concept in Malaysia. In fact, we have several players already such as MyEG, AutoRoadTax, and Bjak, for examples of sites focused on auto insurance specifically. So why did digital marketing agency NickMetrics still decide to foray into this industry with Fincrew in late 2020? Its founder,…

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Malaysian Site For Car Insurance Renewal & Quotations Online

Malaysian Site For Car Insurance Renewal & Quotations Online

Being able to renew your car insurance and get road tax quotations online, amongst other things, is not a new concept in Malaysia. In fact, we have several players already such as MyEG, AutoRoadTax, and Bjak, for examples of sites focused on auto insurance specifically. So why did digital marketing agency NickMetrics still decide to foray into this industry with Fincrew in late 2020? Its founder,…

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Many homeowners’ insurance claims are liability losses. They can result in payouts of a few million dollars. If someone gets hurt on your property, or if you cause damage to someone else’s property, you may be liable for medical bills, legal fees, rehabilitation, and many other expenses. You can protect yourself against this risk by purchasing a personal liability policy. The policy will cover your legal expenses if you are sued.

What Is Personal Liability Insurance?

A personal liability policy protects you and your family from liability if you cause physical injury to a third party or cause damage to their property. In addition, the personal liability coverage compensates you for the legal fees and damages you owe. Several factors affect the type of liability insurance you need, including your employment status, industry, and the country in which you live. It is relatively uncommon in Malaysia to take out personal liability insurance as a separate policy, but it is common to include it in insurance packages. However, given the wide range of coverage available, it can be tough to understand which type of liability insurance you need.

What Does Personal Liability Insurance Cover?

A personal liability policy will protect you in a wide range of situations where you may be legally required to pay for something that happens to someone else on your property or, in some cases, on someone else’s property. Among the most common liability claims are the following:

Expenses resulting from an injury sustained by a guest at your home

Litigation seeking compensation for damages that the policy may cover

Damages to persons or property resulting from your negligent acts or omissions

Damage to property or bodily injury caused by your pets

What Isn’t Covered In Personal Liability Insurance?

Your homeowners’ insurance will cover some specific personal liability claims. A few common examples include:

Liability due to a car accident: your auto insurance policy typically covers these claims.

Injury or damage to property by you or a family member

Damages or injuries within the household

Any bodily injury or property damage can be attributed to your professional activities or any business you conduct. A business insurance policy should cover any business-related claim.

Is It Necessary To Have Personal Liability Insurance At Work?

If an accident occurs at work while performing your duties, your business’s insurance policy should cover the costs. You should check if your employer has public liability insurance, which will compensate you for any damage to a third party caused by accident caused by a member of the organization while at work. To protect you personally under similar circumstances as a self-employed person, you must have self-employed public liability insurance.

How Personal Liability Insurance Work

Assume that your homeowners’ insurance offers RM300,000 in personal liability coverage. In addition, you have a personal umbrella insurance policy that covers up to RM1 million. The plaintiffs sue you for RM800,000 for a covered incident, and you lose. The first thing you’ll have to do is pay your homeowners’ insurance deductible, say RM1,000. Next, your homeowners’ insurance will spend the next RM299,000 of the judgment, bringing you up to the RM300,000 limit. You will then have to pay RM500,000 from your umbrella policy. However, due to your high level of comprehensive personal liability coverage, you won’t have to pay that half-million out of your assets.

Final Thought

Feel free to contact Fincrew Insurance today if you have any concerns about the level of cover provided by your policy. We also offer a range of commercial insurance policies available for viewing online today.

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Malaysia’s maid insurance policies offer significant advantages for employers and domestic helpers. These comprehensive insurance plans provide financial protection and peace of mind, ensuring a secure and harmonious working environment. This article will explore the benefits of Malaysian maid insurance, highlighting its advantages to employers and their domestic helpers.

Medical Coverage

One of the primary benefits of maid insurance is medical coverage. Due to accidents, illnesses, or routine check-ups, domestic helpers may require medical attention. With maid insurance, employers can ensure that their helpers receive prompt medical treatment without incurring substantial expenses. By providing access to quality healthcare, this insurance coverage safeguards the well-being of both employers and domestic helpers.

Personal Accident Protection

Accidents can happen unexpectedly, posing potential risks to domestic helpers. Malaysia maid insurance typically includes personal accident coverage, offering financial assistance for accidental injury or disability. Employers can take comfort in knowing that this plan protects employees against unforeseen accidents, and domestic helpers can find reassurance in receiving compensation for medical expenses and income loss during recovery.

Third-Party Liability

In some instances, domestic helpers may accidentally cause damage to third-party properties or injure someone unintentionally while carrying out their duties. Maid insurance often covers third-party liability, protecting employers from potential legal liabilities and financial burdens. By including this coverage, employers can provide a secure working environment for their domestic helpers and avoid unexpected expenses arising from unfortunate incidents.

Repatriation Expenses

If a domestic helper faces personal emergencies or needs to return to their home country due to unforeseen circumstances, maid insurance often covers repatriation expenses. This provision ensures employers and domestic helpers can easily navigate such challenging situations without significant financial strain.

Security Bond

Many countries, including Malaysia, require employers to post a security bond as part of the maid employment process. This bond protects domestic helpers in case of unpaid wages or contract breaches. Malaysia maid insurance often includes coverage for this security bond, relieving employers of the burden of providing a cash deposit and facilitating a smooth employment process.

Conclusion

Malaysia maid insurance offers multiple benefits to both employers and domestic helpers, providing comprehensive coverage for medical expenses, personal accidents, third-party liabilities, repatriation expenses, and security bonds. By investing in maid insurance, employers can fulfill their duty of care towards their domestic helpers while ensuring a secure and harmonious working environment. Domestic helpers, in turn, can enjoy financial protection and peace of mind, allowing them to focus on their responsibilities without undue worries. Explore the various maid insurance policies available in Malaysia at Fincrew to find the one that best suits your needs and priorities.

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The leading insurance and financial product marketplace in Malaysia, Fincrew Malaysia, provides a wide range of financial services. Fincrew Malaysia provides users a comprehensive online platform for comparing and applying for various financial products, including insurance, loans, credit cards, and extended warranties. The platform makes users make informed decisions and find the best deals on economic outcomes by providing a user-friendly experience and excellent customer service.

Fincrew Malaysia offers various services besides its insurance and financial products, such as online will writing and business current accounts. An overview of Fincrew Malaysia’s various financial services, including its auto repair loan, compare SME business loans, compare personal loans, compare koperasi loans, extended warranty, online will writing, and Alliance Bank business current account, will be provided in this article.

Insurance Services

Fincrew Malaysia offers a wide range of insurance services, including:

Maid Insurance: Fincrew understand the importance of safeguarding the well-being of those who support your household. Fincrew comprehensive maid insurance coverage offers personal accident insurance, medical expenses, repatriation costs, and more.

Golfer Insurance: Fincrew tailored this coverage to address the unique needs of golf enthusiasts. From liability to the public and accidental injuries to equipment loss and even hole-in-one celebrations, Fincrew Golfer Insurance has you covered.

Car Insurance: Motor insurance is mandatory in Malaysia for all vehicle owners. Fincrew Malaysia offers motor insurance policies that cover damage to your vehicle and liability for third-party damages.

Travel Insurance: Travel insurance covers unexpected events during your trip, such as medical emergencies, trip cancellations, and lost baggage. Fincrew Malaysia offers travel insurance products that provide comprehensive coverage at affordable prices.

Loan For Auto Repair

An auto repair loan from Fincrew Malaysia is a personal loan designed to help car owners pay for auto repairs. Because these loans are unsecured, they have flexible terms for repayment and competitive interest rates. It makes it easier for car owners to pay for repairs without worrying about how much they will cost upfront.

SME Business Loans Compare

Additionally, Fincrew Malaysia provides a comparison and application for business loans platform for SMEs. Small and medium-sized businesses (SMEs) can get funding using this service, which helps them find the best loan deals with low-interest rates and flexible repayment terms.

Compare An Individual Loan

Fincrew Malaysia likewise offers a stage for people to look at and apply for individual credits. Loans for personal use are for various things, including home improvements, consolidating debt, and paying for unexpected expenses. Individuals can use the service to locate the best loan deals with affordable interest rates and flexible repayment terms.

Comparison Of Koperasi Loan

Koperasi loans are loans from cooperatives that are only available to cooperative members. Members of koperasi can use the Fincrew Malaysia platform to compare and apply for loans with favorable interest rates and flexible repayment terms.

Extended Protection

For various goods, Fincrew Malaysia provides extended warranty coverage for automobiles, motorcycles, and home appliances. Users are provided with financial security and peace of mind due to the additional protection that extended warranty coverage provides against unanticipated breakdowns and repair costs.

Writing a Will Online

Additionally, Fincrew Malaysia provides online will-writing services, allowing customers to draft legal wills without visiting a lawyer. Users can use the service to ensure that their assets’ distributions are by their wishes at an affordable and convenient cost.

Conclusion

Fincrew Malaysia is a dependable and easy-to-use marketplace for financial services that provides a wide range of financial products and services to meet its customers’ various requirements. Thanks to the platform’s user-friendly interface and excellent customer service, it is easier for users to compare and apply for insurance, loans, credit cards, and other financial products. Users can also benefit from Alliance Bank’s business current account, extended warranty, and online will writing services from Fincrew Malaysia.

Fincrew Malaysia is an excellent option for anyone looking to compare and apply for financial products that best suit their requirements and budget because of its competitive rates and flexible repayment terms.

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Research your car insurance options is best. The insurance you choose will also require you to pay an excess or a deductible, no matter what level of coverage you choose. Select a high quantity in exchange for lower monthly premiums. Still, you need to know your deductible and excess to pay more than expected for an unexpected vehicle repair. Fincrew Insurance has put together a guide to help you work out your deductible and excess for car insurance so you only accept a quote that suits your needs.

What’s a Car Insurance Deductible?

In a perfect world, businesses and their customers would always be able to interact honestly to provide quality services for everyone. Unfortunately, this is only sometimes the case in reality. Car insurance providers need to ensure that they put in place measures that discourage their customers from making false claims by putting measures that prevent them from doing so. There is little difference between your car insurance excess and your deductibles other than that an excess refers to the amount you’ve agreed – in advance – to pay if you make a claim. In contrast, a deductible only applies when you are in an accident.

What Is Excess In Car Insurance?

A policyholder’s excess is the amount they agree to pay when they buy the policy towards a claim. In Malaysia, it is similar to a deductible but more common. The amount of your car insurance excess is determined when you purchase your policy. Your only chance of changing it is if you file a claim. Having an idea of your excess can help you prepare for future claims without worrying about how much you can afford. For example, if you choose comprehensive car insurance with an RM4,000 excess and the damage to your vehicle costs RM6,500, you will have to pay RM4,000 of the excess, while your insurer will cover the remaining RM2,500.

Excess amounts vary depending on your risk profile and what you are comfortable paying. If you have limited driving experience or are a new driver, you are statistically at a higher risk, which increases your excess. How you drive your vehicle, where you live, how you use it, and the measures you have taken to prevent your car from being damaged or stolen can all have an impact. You can expect your excess to be lower if you have a tracking device and park it in a locked garage behind a locked gate than if you don’t have the device and park on the street.

There is also the possibility of being offered a percentage excess. You agree to pay a fixed percentage of the total claim cost. You usually have to pay a flat bunch if you get into an accident. Exchange a higher premium for a lower quantity in many cases. However, you should be aware that your premium may increase if the circumstances of your claim change.

How Does Car Insurance Deductible Work?

The amount of your deductible will vary depending on what type of policy you choose, but there are no annual deductibles in this policy. This cost will be your responsibility whenever you submit a claim to the insurance company. Upon payment of the deductible, your insurance company will pay the balance of the claim amount or the repair cost once you have paid your deductible. Here is an example of how a car insurance deductible works:

There is a RM 5,000 deductible and RM 30,000 damage from covered accidental injury.

In the case of an insurance claim, the insurance company might pay RM 25,000 to repair your car, but you are responsible for the remaining RM 5,000 out of your pocket to cover the remaining cost of repairs.

How Much Excess On Car Insurance Should I Pay?

If you are considering paying an excess, remember there is no right or wrong answer. Ultimately, it’s a matter of personal preference. Consider paying a lower monthly premium and spending more on an excess payment. Additionally, you might prefer to pay more every month so that your extra income is low enough to pay without any problems if necessary.

It would help if you remembered that honesty is the best policy for car insurance, including your excess. When dishonest with your insurance provider about who usually drives your car or other things, you may pay a higher quantity or have your claim denied.

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E-commerce has a lot of potential in Malaysia. There’s zero doubt about that. But even with this, it isn’t uncommon for eCommerce and online sellers to struggle a little with getting the ball rolling. So, if you want to get business loans to boost your online business, all you have to do is follow these three (3) simple steps:

Step One – Attend To The Legal Affairs Of Your Online Company

As every Malaysian knows, legalities are essential in the country. Because of this, you need to make sure you’re very clear on the specifics of what type of online business you’re running. In addition to the above, you should also ensure a good picture of the local market. Along these lines, one thing you should be intimately familiar with is the debt collection law in the country. Finally, ensure that you have any license or permit necessary to run the type of online business you’ve set up.

Step Two – Prepare a Clear And Concise Business Plan

Even family members will be hesitant to extend you a line of credit if you don’t give the impression that you’re well put together and have a clear idea of where you’re going. It goes double for corporate finance institutions. Consequently, it would help if you had a detailed and specific business plan. But having said that, it can be challenging to prepare a proper business plan. To help with this process, you can start by putting down all your thoughts and ideas for the online venture as well as your short and long-term goals for the virtual enterprise. It can help you get a clear sense of where you will go so you can prepare a more constructive business plan.

Step Three – Start Knocking On Doors

Now that you’ve defined your brand and have a good business plan handy, the next thing on your to-do list becomes finding the best business loans for your enterprise. One of the most practical and efficient ways of doing this is by looking at what funding opportunities the government is offering. Five (5) fantastic funding schemes we love are;

The TEKUN Financing Scheme.

Soft Loan Schemes for Services Sector or SLSSS.

The Tambung Pembangunan Pengangkutan Awam Scheme or TPPA.

Tabung Usahawan Siswazah or TUS Scheme.

SME Emergency Fund Program or SMEEF.

However, as many of these programs tend to have a long waiting list, they aren’t always ideal for online businesses that need the influx of cash as soon as possible. So alternatively, you can use the FinCrew Small and Medium Enterprise (SME) Loan Comparison tool to get a rundown of what options you can access more quickly. It’s simple to use, delivers excellent results, and it’s completely free!

Conclusion

It can take a considerable amount of resources to get your online business to where you want it to be. But now that you have a better idea of how to get more funds, we hope you have an easier time with the affair!

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The workplace should provide an employee with some form of insurance coverage. While certain types of insurance coverage are mandatory for certain employers, others are not. However, it is best to understand the more common types of insurance that your employer may offer. What’s the reason? Understanding what you have and do not have allows you to fill in any gaps in your coverage. As a result, you will be well informed enough to take advantage of the benefits you need when you need them.

Healthcare Insurance

Many employers offer group healthcare insurance to their employees. You can choose from different coverage options, from the most basic to the most comprehensive. Employees can typically choose between different insurance plans their employers provide, and employees can adjust these plans as necessary. Knowing what is covered and what isn’t includes learning whether you choose your physician and the deductible or other costs.

Disability

Disability insurance is another type of employer insurance. If an employee becomes disabled, an employer will purchase income replacement insurance not to lose their income. The employee will receive a regular payment if he becomes disabled through this type of insurance. The majority of insurance policies have a waiting period to be adhered to by individuals. Depending on the severity of the bodily injuries, they might have to wait 60 days before they begin receiving benefits. Most employers only insure their workers for short-term liability. As a result, most companies will only provide financial support to disabled individuals for a short period (a year or less). A person who is still unable to work after this point can seek disability benefits from Social Security or a private disability insurance policy.

Worker’s Compensation

If a company has employees, it is required to purchase worker’s compensation insurance. Workers’ compensation insurance covers the medical expenses incurred by employees due to workplace injuries. If a worker gets injured on the job, she can obtain the medical care she needs and then file a worker’s compensation claim. Her insurance will then pay her medical bills. Employees who accept this coverage agree not to sue their employers for negligence. It is also known as workman’s compensation.

Life Insurance

Employees typically purchase group life insurance through their employers. Knowing what kind of coverage your employer provides and the death benefit is essential if you have such a range. In many cases, these types of life insurance group plans are just short-term or accidental death policies that cover just enough of your final expenses or come with death benefits equal to just one year of your salary. A life insurance policy that requires little or no medical examination is better than none, and group life insurance might be a cost-efficient way to start one. Nevertheless, make sure you have enough coverage by checking your limits and policy type.

Reviewing your coverage is essential if your employer offers you free or low-cost benefits at work. Talk to us at Fincrew to determine whether you need coverage beyond what is provided by your employer. Our representative can help you choose the right policy that is best for you.

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The only surefire way to improve the longevity of any machine is by following a consistent maintenance culture. It is where car servicing comes into the picture. You need to know the basics of good car service to get the best value out of your brand-new or second-hand car. Let’s take a look at that now.

What Is Car Servicing?

Car servicing involves taking your automobile to a professional for a full health check and routine maintenance measures after a specific time has passed or the vehicle has covered a certain distance. How often you have to get your car serviced depends on several variables. The most important of these are the car brand and the road conditions you use the vehicle in.

What Does a Full Car Service Cover?

Giving your car a full service involves:

Cleaning Or Replacing The Filters

There are four (4) different types of filters in your car. These are the air, cabin, fuel, and oil filters. Each of these filters plays a vital role in maintaining the functionality of your vehicle, and cleaning or replacing them as appropriate can make a huge difference.

Cleaning Or Replacing The Spark Plugs

Cars that undergo a fairly regular complete servicing procedure are less likely to have problems starting. Taking proper and timely care of the vehicle’s spark plugs contributes to keeping the ignition in top shape.

Properly Gauging The Tires

Most vehicle owners underestimate the importance of ensuring their tires have the proper pressure. However, if you use your vehicle when it doesn’t have the correct tire pressure, you’re effectively reducing the lifespan of the tires. What’s more, you may be increasing your fuel consumption too. Servicing your car also extends to gauging the tire pressure and ensuring everything is as it should be.

Maintaining The Vehicle’s Lubricants

From the brake and the power steering fluid to the engine oil and automatic transmission fluid, servicing your car ensures that all these lubricants are appropriately changed and up to gauge.

Cost Of Car Servicing In Malaysia Today

Since the frequency and intensity depend on the car, the amount for this service is also determined. For example, servicing a Perodua Myvi can cost as little as RM 118, while giving a Mercedes the same treatment can easily cost RM3,000 or more.

Advantages Of Regularly Servicing Your Car

Some benefits of consistently carrying out maintenance practices on your vehicle are;

Reduces unnecessary expenses

Ensures your safety

Improves the lifespan of your automobile

Ensures that you can demand a higher asking price at resale

Keep your vehicle running smoothly at all times.

Conclusion

The pros of frequently servicing your car far outweigh any financial constraints this exercise might put on you. So, it’s certainly worth doing. See this to complement your car servicing with excellent auto insurance.

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You never want to be caught off guard when protecting your health. The consequences of being unprepared for medical emergencies while traveling can be more severe than when you’re at home. When you don’t feel well or don’t speak the same language as your doctors, how can you navigate a health care system you don’t know? How will you communicate with your doctors? And how will you pay for your care? International travel is not always under domestic health insurance. Therefore, travel health insurance is a necessity. With this guide, Fincrew Insurance explains what travel insurance is, when it starts and how to ensure your health is protected if you are injured or ill while traveling.

What Is Travel Insurance?

A travel medical plan provides medical benefits, and emergency services are essential if you get sick or get into an accident on a trip outside your home country. Your travel insurance could cover the cost of treatment if you contract an illness while traveling, such as COVID-19, malaria, or even the flu. Travel medical plans also cover emergency medical evacuations if local medical care isn’t available. The evacuation cost is not only surrounded by insurance, but our travel assistance services can facilitate your evacuation to a medical facility that can provide the necessary medical treatment.

How Do Travel Medical Insurance And Trip Protection Differ?

It’s not just about medical coverage when it comes to travel insurance. Trip protection also offers other benefits. The benefits can cover lost or delayed baggage and nonrefundable trip expenses if cancellation or interruption occurs. Additionally, travel assistance services are available 24 hours a day, seven days a week, to help with situations such as replacing a lost passport, interpreter referrals, and arranging emergency medical evacuations. Travel medical insurance is different from this coverage, so when your coverage takes effect is also different.

Do Travel Medical Insurance Policies Start Covering Medical Expenses Right Away?

Whether you purchase travel medical insurance one day before departure or months before, your coverage begins when you leave your home country. Even though it might seem like a good idea to wait until the last minute to buy your insurance, especially if you’re trying to decide whether travel medical insurance is worth the cost, buying in advance is a better idea, the plan will not start until at least a day after you purchase it, so it’s best to review the plan document, ask questions, and make sure you choose the right plan before buying it.

What Does It All Mean?

Buying insurance can be confusing, especially when you don’t understand the terms and definitions. Travel medical insurance can be confusing, but Fincrew can help simplify the process. You can learn more about travel insurance on our blog or by contacting one of our experts.

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The importance of insurance is well known to many of us. How soon you decide to purchase insurance is also essential. As you age, your insurance costs and abilities change significantly. Since you will probably be sick more frequently as you age, you will also likely have more health issues. It is why insurance isn’t a guaranteed option at any moment. Being sick may also prevent you from buying insurance quickly due to exclusions and higher premiums. Is there any insurance you need to consider to ensure your protection when you age? Below are the top 3 insurance plans you may want to consider:

Hospitalization/Medical Card

The last thing to worry about is if high medical bills could lead to bankruptcy in the event of illness, an accident, or injury. A hospitalization policy or a medical card will cover your medical expenses from illnesses or damages covered by the policy. Also, you may be able to pay for expensive private hospitals if you prefer to use them. In addition, you may choose to add hospital income, which provides you with a daily allowance while confined. Medical and hospitalization insurance costs are usually between RM33 a month and RM340 a month, depending on the limits and coverage chosen.

Life Insurance

If you have this, you will receive a lump sum payout upon death and cover any final expenses you may have. You can also use your life insurance policy to pay off any loans you have taken after you pass away, allowing you to keep providing for your loved ones.

Life insurance comes in three forms:

Term Insurance

Whole life insurance

Investment-linked whole life insurance

The following table below explains the differences between these forms of life insurance.

Term Life Insurance

Whole life insurance

Investment-linked whole life insurance

It is one of the most popular life insurance in Malaysia. Providing only a limited coverage period is appropriate if you have young children you wish to protect until they can handle their own needs. Shorter coverage periods result in lower premiums, making it more affordable than other types of life insurance. It provides coverage for your whole life along with a savings component. You can withdraw the savings or use them to pay your future premiums whenever you need them. It costs more than term life insurance for the same level of coverage for an investment-linked policy combined with a whole life policy. Depending on the performance of your investment product, you may receive part of your payout. Typically more expensive than term or whole life insurance.

Critical Illness

You will receive a lump-sum payout under a critical illness policy if you have a diagnosis that could kill you. A condition may be a stroke, heart attack, cancer, or organ failure—payouts from this type of insurance cover medical expenses. This type is also to recoup income. The replacement of income is crucial if you are the sole breadwinner of your family or if they depend financially on you. Critical illness can have lasting effects that affect your ability to work. Your health typically determines an illness insurance premium when you sign up, as well as how many illnesses the plan covers and its benefits. Plans can start as low as RM10 per month to cover three diseases.

How Do You Buy Insurance?

When buying insurance, you’ll usually need to follow these steps:

Contact Fincrew to find a plan that suits your budget and needs. It is also a good idea to compare insurance policies to get the best coverage for your budget.

Once you have chosen a plan, the staff will guide you through the application process. If you have a medical or family history, you might need a medical check-up. You’ll be able to get the coverage you want and pay the premium you need based on the results of your check-up.

When you sign up, you will need to pay your first premium. After that, you’ll have to pay monthly or annual premiums.

Are You Prepared To Protect Your Ageing Self?

Before choosing an insurance plan, you should balance your insurance costs with your monthly or yearly budget and other financial goals. In the end, insurance financially protects you and your family in medical emergencies. Therefore, you should obtain at least a basic insurance plans now that can ease your financial burdens in the future.

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The cost of extended warranties can be just as burdensome as car repairs. Take a look at the pros and cons of extended car warranties for your vehicle before choosing one.

What Is An Extended Warranty?

The likelihood of certain parts wearing out and stopping working increases as vehicles age. An extended warranty, sometimes called a vehicle service contract, can protect your used car from potentially costly repairs after the factory warranty expires. When a vehicle breaks down due to normal wear and tear, an extended warranty covers the cost of parts and labor for repairs. Extended warranties work similarly to the manufacturer’s warranty. The insurance does not cover misuse, neglect, or accident expenses.

The Pros Of Extended Car Warranties

Pro: Extended Warranties Can Be Tailored To Meet Specific Needs

Since the original warranties provided by auto manufacturers differ in terms of mileage and time limits, companies that offer extended warranties have a greater variety of products and services than in the past. The third-party warranty provider can only extend the shorter warranty coverage if, for example, a vehicle has an extended powertrain warranty but a short bumper-to-bumper warranty. Providing 24-hour roadside assistance to new vehicles without manufacturer coverage is another example.

Pro: Extended Warranties Cover Expensive Repairs

In today’s vehicles, expensive technology, wiring, and computerized equipment are more complex than ever. In cases like these, diagnosing, isolating, and repairing the problem can cost money. As new cars and trucks are more mechanically reliable than ever before, a vehicle’s technological systems make it necessary to obtain an extended warranty. Before purchasing a warranty, request a list of exclusions from the warranty provider and ensure that the contract includes these technology features and other significant vehicle components.

Pro: Dealers Handle All Paperwork And Payments

Dealer-sponsored extended warranties tend to be more expensive. Still, in exchange for the extra cost, the dealer handles all the paperwork, and the auto manufacturer pays directly to the dealer for services rendered. Also, these warranties are usually backed by the manufacturer, allowing the car owner to go to any dealership with the same brand anywhere in the country to get the vehicle fixed, whereas other third-party warranties might include limitations.

The Cons Of Extended Car Warranties

Con: Extended Car Warranties Can Be Expensive

An extended warranty is a bet. You have to spend more on repairs than the warranty cost in most cases. The warranty provider is also betting on the outcome. The warranty provider believes you will not need to spend more on repairs than the warranty covers. Since there are so many extended warranty providers, the odds are not with you. However, negotiate an extended warranty’s price most of the time.

Con: Extended Warranties Don’t Cover Everything.

In some cases, consumers buy an extended warranty plan without reading its details and discover later that their extended car warranty does not cover a needed repair. You should receive a list of exclusions on your warranty plan from a reputable provider. Be sure to read the list carefully before purchasing an extended warranty.

Final Thought

You may decide that an extended car warranty is proper for you after considering the pros and cons of extended car warranties. Researching and comparing prices are the first steps to finding the appropriate deposit for you. It would help if you shopped around for the best price and coverage on your car from top third-party warranty providers.

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The concept of one’s mortality is a complex topic to contemplate, so most people avoid doing so, whether directly or indirectly. It is also perhaps why more than 50% of middle-aged people in the country still don’t have a will. Many of these people often ask questions like;

Why do I need a will?

What happens if I die without a will?

Here, we’ll be addressing these critical questions much more concisely. But first, some context.

What Exactly Is a Will?

Before you judge if you need something, you have first to know what the thing in question entails. A will detail their wishes, the distribution of properties, and the care of their (minor) children.

Why Do You Need a Will?

Contrary to what others think, preparing a will isn’t a luxury reserved for only the wealthy. Some important reasons why you’re better served preparing a last will include;

You get to state how you want your estate to be handled explicitly.

You’ll be able to keep your property out of the hands of people you specifically don’t want to get it.

You can pick who’ll care for your young children if the worst happens.

It’ll make the process of inheriting your estate easier for your children.

Giving charitable donations and gifts will be an easy affair.

It affords you a measure of flexibility.

What Happens If You Die Without It?

People who die without a valid will have been killed “intestate.” When such a situation occurs, the handling of the estate is left to the state. The designated formula to allocate your assets is dictated by the Distribution Act 1958. Some problems that’ll result from this include;

As the Distribution Act 1958 doesn’t account for several modern-day scenarios, the allocation of your estate to your surviving family members may be uneven and problematic.

You forfeit the right to choose your executor.

The chances of family disputes occurring increase exponentially.

You won’t be able to choose who’ll care for your young children in your absence.

Distributing your estate will take far longer than it rightly should.

The truth remains that no single document is enough to solve any issue that might come up after your demise. However, a will ensures there’s a straightforward way to resolve many of these issues quickly.

Getting a Will In Malaysia Today

When you weigh the pros of getting a will against doing without, you realize you’re better served preparing this legal document. If you want to do that with ease and at an affordable rate anywhere in Malaysia today, utilize the online will writing services of Fincrew.