HOME INSURANCE

BASIC FIRE POLICY

This policy provides you with coverage for thebuilding only and covers loss or damage by fire, lightning or explosion.

HOUSEHOLDER POLICY

•This is a policy to cover your household contents and includes coverage for fatal injury to you as the insured.

• It covers household goods only

HOUSEOWNER POLICY

•It covers building including fixtures and fittings, garage, walls, gates and fence against several specified risks.

•This policy provides additional coverage compared to the basic fire policy. It includes loss or damage due to flood, burst pipes, etc.

• Exclusions: It does not cover loss or damage due to subsidence, landslip, riot, strike and malicious damage.

•However, you can cover these exclusions with payment of additional premiums.

MOTOR INSURANCE

MOTOR INSURANCE

Definition : A motor insurance policy is a mandatory policy issued by an insurance company as part of prevention of public liability to protect the general public from any accident that might take place on the road. The law mandates that every owner of a motor vehicle must have one motor insurance policy.

Motor insurance provides property, liability and medical coverage.

SCOPE OF COVERTemporary total or partial disablementPermanent disablementAccidental deathFuneral expensesHospitalization benefits

EXCLUSIONS OF STANDARD MOTOR POLICY:

-Your own death or bodily injury- Your liability against claims from your passengers-Theft of non-factory fitted vehicle accessories (car stereos, leather seats, sports rims etc) unless otherwise declared. -Loss/damage arising from an act of nature (flood, landslide)-Depreciation, mechanical or technical breakdown failures or breakages

No-claim-discount (NCD)For every year you don't claim on the insurance policy you get a discount, up to a limit of 55% as specified by the Persatuan Insurans Am Malaysia (PIAM)

If the damage to your vehicle was by a 3rd party, you will not lose your NCD by claiming from the 3rd party insurer.

NCD's are attached to the vehicle (not the driver)

Period of InsurancePrivate Vehicle

Commercial Vehicle

After the first year of insurance 25% 15%

After the second year of insurance

30% 20%

After the third year of insurance

38% 25%

After the fourth year of insurance

45% 25%

After five or more years of insurance

55% 25%

TRAVEL INSURANCE

TRAVEL INSURANCE

Cover medical expenses, financial and other losses incurred while traveling, either within one's own country, or internationally

The cost of travel insurance depends on a number of factors such as our age, the duration of our trip, the country we plan to visit and the benefits included in the plan

Why take Travel Insurance? Medical expenses

Emergency evacuation/repatriation

Trip cancellation/interruption

Accidental death, injury or disablement benefit

Delayed departure

Loss, theft or damage to personal possessions and money

Delayed baggage

Curtailment

Loss of passport

Hijacking

Benefit of Travel Insurance

• It helps the travelers to be more relaxed and tension free.

• It protects against mishaps, illness or eventualities in foreign countries.

• It gives coverage to losses which may occur due to the reasons beyond the control of the traveler.

Tips on Buying Insurance1) Be sure to buy from a company through an authorised agent

2) Shop around for rates

3) Understand the scope of cover, terms and conditions of the policy

4) Avoid unwanted additional coverage

5) Make sure the life policy recommended is right for us

The Need ApproachA method of calculating how much life insurance is required by an individual/family to cover their needs (i.e. expenses).

The needs approach is really a function of two variables:

1. How much will be needed at death to meet obligations. 2. How much future income is needed to sustain the household.