Be alert not legally scam by linked insurance now

Nowadays, often you read or hear or see in social media been scam by the unscrupulous scammer. But, have you ever hear you are been legally scam by the insurance company. Why did I say that? Because I am the victim, moreover, ironically like added salt to my wound as I was an insurance agent myself.

Not blowing my own trumpet having passed the Chartered Insurance Institute with Distinction on my final marine claim and underwriting. I was an associated member of AAII, AMII, and CII after passed all my 6 objective papers and 3 hours written 13 subject papers. Also, I am a Marine adjuster licensed by Bank Negara. Having said that, do you think I would be much better off than people walking on the street to understand the policy contents? Likewise, would you agree I can interpret much better than some qualified life insurance agents? I joined full-time corporative Marketing personnel in a conglomerate public listed general insurance establishment in 1994. Prior to this, I handled mainly with Marine cargo insurance in 1981.

But the truth speaks for itself; I too fall as a victim by the legal scam of the insurance company.

Be alert not legally scammed by Insurance

“You are stupid, why you don’t consult your immediate up line” sarcastically said.
“Well, my immediate only an STPM holder, furthermore, his up line merely an M.C.E qualification”
“Because, you are too ego seek advice from them” Both of my up lines are from East Malaysia, at the time there is no WhatApps. Now, I hope you understand my situation.
“You don’t go for training” You are wrong. I attended and enjoyed the sharing training with zest with a lot of questions. In fact, I arrived earlier before the training with a notebook and pen. I scrapped the entire note as if I attended a lecturer or tutorial.

How insurance can scam you

I joined the life insurance in 2005 after my relative knew my predicament of Rm250K overdraft loan with a local bank. Eagerly I signed up and sat for the life and investment-linked examination. Nothing too proud of, of course, I passed with a distinction with less than an hour in the examination, In late December 2004, the 3 hours objective paper. Mind you, we still used a 2B pencil to shade the correct answer. After that, we waited for weeks for the results from the insurance company that we had earlier signed as an insurance agent.

Meanwhile, waiting for the result, I start to read a book on a life insurance policy. But to my astonished, in fact, the most popular product is the investment-linked insurance, besides the endowment policy. Why no term insurance? Please ask the insurance company, but the agent point of view, 10% commission not attractive enough to put the hard work. On top of that, it is a cheap premium without any saving in nature.

Anyone can answer me “what is the purpose of life insurance” Protection. Isn’t correct? If you say “saving” is ill-informed by the insurance agent. Unit trust or mutual fund or even bond gives a better return than the fixed deposit. Obviously, it is not the investment-linked product that you have purchased from a life insurance company.

Be alert why insurance can scam policyholder

All in all, when you approach by an insurance agent for life policy, do you really know what product suit your criteria? Even with the fact-finding and your financial standing. You are pretty sure the insurance would propose 3 in one policy to you. Namely, the only choice left for you is the investment-linked 36 critical illnesses. And of course not forget the utmost important medical card and waiver of premium rider that you need the most. Is that a level term insurance regardless of the entry age?

Besides the 110% commission payable to an insurance agent, how much left for the investment compared with 5.5% charges for unit trust. Even cheaper if you parked your hard-earned money in the 3.75% e investment and 1% for bond charges. Frankly speaking, even a primary school student would able to answer which is more premium in comparison.

Be alert not legally scam by linked insurance now

Non-Transparency Investment-linked Insurance

Had your ever cross your mind the reason why insurer promoted fiercely. It can legally con the insured, am I not wrong to say that. Faithfully, you pay the premium via credit or debit card without pay every month. The dear insured had ever received a small booklet stating the percentage of the premium. Which sector of the industry, for instance, telecommunications, consumer product, finance, technology, energy? Also, is it invested locally or abroad? Which country with the breakdown in percentage invested, for example, Japan, USA, China, regional or the Asia Pacific? What about the management fee and trustee fee per year?

Affirmative you would say “NO” Truly; the insurance company is no transparent toward the insured. This is legally scamming the insured, wouldn’t you agree? Year-end, you would receive a copy of the mail stated the balance unit and the net asset value. If the unit trust or mutual company can deliver a brochure with details of the percentage of major companies that had invested, likewise, why can’t the insurance do the same? Thus, it lacks transparency to the insured.

How insurance scam policyholder

After all, you ask me where is evidence. Hereby, let me illustrated you with proof to you with the actual scenario. Of course, I have deleted the insurer name for the view of the general public, and also, not to tarnish the reputation of the insurer.

I signed up for the policy in 2010, to cover part of my renovation housing loan of Rm250k for the tenure of 18 years. Why RM30K sum insured, not the RM250k as I have other life policies? I did the auto-debit from my visa card monthly of RM250.00. Why not is the mortgage reducing loan or mortgage reducing term loan? Please refer to my website yesnoclaim.com. On top of that, the training facilitator always emphasis on the investment-linked product for saving purpose. How far it true now, let use your acumen to be my judge?

After paying RM21 500.00 due to the “premium holiday”, I stop the payment for a while. Moreover, when I purchased a programmer from the USA for e-Commerce at home, the counter clones my visa credit card of US$69.00 after a week. I alert the bank to cancel and replace me with a fresh visa credit card. As I engrossed to master the new subject, I forgot to inform the insurer. But, nevertheless, I only blamed my forgetfulness and moreover thinking of premium holiday.

Be alert not legally scam by linked insurance now

Gentle warming reminder from insurance

To my dismay, a 5 pages letter arrived at my letterbox. The insurance stated that charge due date on 12 Sept 2019 with only a value of RM889.55. Given the option 1 of paying up with addition a regular top-up of 391.00/month based on last premium due date. Your proposed total premium of RM641.00/month, why the word you proposed?

For your information, in the contract of insurance law, you as an insured offer your premium as a consideration to the insurance company. It depends on the insurer to accept or reject your offer.

Or perhaps, financial sound, I could pay up the outstanding premium of Rm6K from the premium holiday commenced from 12 Oct 2017 to 12 Sept 2019.
Moreover, the investment amount is only 95% of your premium paid. Despite the fact, you are aware the agent commission stops at year 6. Why not the full amount paid? The insurance hijacked your 5% premium payable, would not agree with me?

The option 2, absolutely insane, makes a single top-up premium of RM 107,954.00. If you can pay up such a big chunk of money, would you pay for it? Just pay a paper contract of promise? Again, have you considered your other opportunity cost for it?

Also, another option 3 is to increase the basic premium or reduced sum insured or removed some riders. Thus, by doing so, you pay lesser premiums to reduce your burden?

Indeed, I am at the crossroad, could anyone lent me your hand to solve this crisis.

The shocking truth of insurance scam

I left penniless on 12 Jan 2020 if I do nothing of it. How sad! After paid Rm21500.00, you get nothing in return? Is that called saving by investment-linked product? You tell me. Legal scam by the insurer is the true fact. Protection and coverage you say for almost a decade? My feet!

Further, the fund return is a projection return range from 4% to 7%. It sounds so good to be true, isn’t it? Anyway, it is still a projection, what is the fund manager doing? Sleep on the job. Of course, you could predict the future return. But the past record was a historical figure, but it did not reflect the good return here.

Illustrations

Let me illustrated here. Let us take Rm125.00 monthly top up with 4% interest per annum, After 7 years you would get Rm12 267.09. Please bear in mind I only use Rm125.00 (i.e. 50% for the whole 7 years) of the premium paid to derive this figure. How could we stomach this Rm899.55? Don’t tell me is a saving principle element here. OR scam! Is it fair to the policyholder, where shall we seek justice?

Without further ado, let us dive deeper, why I took 50% of the premium paid for the investment. There is a higher premium for the age entry, the younger, lesser premium charge, with a better-off return also bigger sum insured. The older you are, you pay more premiums, less coverage and less return in a shorter span of time. That is the main reason, it is better to have insurance coverage at a younger age of entry. 

Insurance coverage Scam Be alert

Additionally, it covers another 4 years for my total permanent disablement. Isn’t it like rubbing salt to my wound? The termination covers stop at when you attain the age of 65. If you longer than a day, a mishap when you slip and fall and bedridden, no payment for the RM30k. Thus, you have to pray no accident befalls on you until you are 100 of age.

With a basic sum insured of RM30K for the life and 36 critical illnesses each respectively, thus gives a total sum insured of RM60K. If you die with the coverage period, you would receive RM60K by your next of kin. Of course in addition to some fund return still based on projection.

Ignored the earlier payment of RM21 500.00, let us take a single up premium payment of RM107,954.00, what is the opportunity cost of this amount in comparison with the sum insured of RM60K.

Assuming the lower return of 4% with a 39 years period as given by the insurance company fund manager and actuarial calculation, finally, you reward with a handsome better return by the insurance. It is a no brainy science; use the simple interest compound interest. In the end, you get a small fortune of RM498 355.17. The interest alone you gain to stand for RM 390 401.17 that is 78% and your principal of 22%.

Congratulations

You are a millionaire if we use 7% with the 39 years tenure and the same principle. Voila, the final reward is RM $1,510,796.84. Would you prefer the Rm1.5 million or the RM60K plus some uncertainty interest return?

The worst case of scamming scenario

Be alert not legally scam by linked insurance now

Please refer to the page, after paid-up faithfully for 7 years, it really made my heart boiling to the maximum on the last page stated the projection figures are for sales illustration only.

Conclusion: Be alert not legally scam by linked insurance now

Now, all things consider and in the final analysis, had you ever stumbled across life insurance under receivership? Certainly, for sure there is none. With is kind of peanut return, are we not a legal scam victim by the insurance.?

The investment-linked insurance designed by the actuarial for protection and saving elements. I reserve my comment. I really don’t know.
Is the insurance company really scammed the policyholder or taking us for a ride? By now, you know the sincere answer.

Wrapping here, my final word, please read and digest your policy within the 14 days grace period upon receiving from the agent. Please surrender the policy and seek a full refund with no question by the insurance company if you find out it is worthless a contract of insurance that not up to your satisfaction.

Lastly, I sincerely hope to get your valuable comment or feedback for me to improve and share with others to avoid future mistakes like I did. 

Healthy Mutton Biryani the best in Kluang

As a matter of fact, Kluang is not only famed for the Kluang Coffee due to the fact they are more 500 plus coffee kiosk. But to sadly, The Kluang the best healthy mutton biryani has often marginalized. Had you ever try the Kluang Tmn Desa Halal healthy mutton biryani. If no, then I would say you have not to visit Kluang. Why? You would ask me? The fact says for itself. I am not blowing my trumpet here. The mutton biryani is the best in Kluang judging from the 3 to 4 operation hours each day. Would you cross your mind, which restaurant opens for a few hours of trading? I am sure it is none.

Moreover, the shop not only sells mutton biryani rice but also the chicken biryani rice too. However, It operates daily from 10.30 am to 1.30 pm, after the addict customers devour all the mutton biryani. Is it surprising to you? What the hack the owner only opens for a few hours in a day. But, nevertheless, the truth speaks for itself.

Origin of Mutton Biryani

In fact, mutton biryani is a healthy nutritional food providing you with immunity power. It is not only healthy for the body but also increases the strength of the bone. Also, you can consume mutton biryani along with side dishes such as pappadam, salad, and pickles.

However, there are many versions of the origin of biryani. But, it noted mainly origin during the Moghul Empire in the Indian south continent.

But the main basic ingredient remains the same with many spices added to the mutton in order to enhance the flavor. The chef uses mainly boiled the long grain rice with some spices adding to it in India subcontinent. Whereas the Middle East mainly the Arab prefer to eat Nan instead of the rice, but nevertheless it is still mutton or lamb biryani.

Hyderabad Mutton Biryani

Remember vividly, I first tasted the best mutton biryani that I had ever eaten in a restaurant. It was a stone throw away from the main gate of the Osmania Medical College in Hyderabad. Extremely hot and spices with fresh dried raisin added into the rice. After 30 minutes of devouring, my Iranian friend dashed off to the toilet.

“What happened to you Ali, are you alright?

“Jamin, the hot and spices mutton biryani. I feel the burning sensation around my anus. I not used to take hot chili spices food back home.” he explained.

Kluang Healthy Mutton Biryani

Truly, the tasty finger licking Kluang Desa Biryani, if you had not tried it, that implied that you have not to visit Kluang. Ask the Kluang folks, they would proudly inform you of the exact location. The Kluang Desa mutton biryani is a double story shop lot situated parallel to the main road between Kluang and Air Hitam. When you arrive at Kluang Desa from the North-South Highway exit to Kluang town. Then, you would notice a traffic light junction before you take a left turn, in front of the Petronas kiosk. The sibling affair business runs for almost 2 decades by two brothers in Taman Desa, Kluang.

Mutton biryani sold out

In fact, on a normal day, it starts to serve the throng of customers queuing up as early as 10.30 am. 2 large pots of Basmati long grain rice would finish by 12.30 pm. I feel sorry for the latecomer. You can choose either mutton or chicken with side order like pappadam beside the cucumber and pineapple “achar”. Wouldn’t it be a good idea to sip a cup of cool lemon ice refreshing drink to round up your meal?

But what a pity, as it occupies only one shop lot, so, it is not spacious for the crowd. Thus, the customer prefers to pack their food eating in the air-conditioning office or at home. Likewise, it is a setback for patron indeed. But once you have eaten, you would come back for more. People would not mind eating with full perspiration under the oscillating fan as long as the food is authentic and delicious.

Healthy Mutton Biryani the best in Kluang, is a must-try for your 
next visit to Kluang.

alidropship.com/?via=11978&campaign=happyjamin.com

How to Live in Paradise with Cash Endlessly

Extraordinarily insane, you would say the tile. In the first place, is it attainable? Had you ever read the book” The millionaires next door”. That super-rich lives in a frugal lifestyle sleep with a pile of cash sleeping on the pillow. In fact, they are living in Paradise with plenty of leisure time and traveling around the world, and of course, Cash. Indeed, the cash is King, with a tap of flow out cash endlessly. Let us unwrap the secret, there is no concealment.

As can be seen, by yourself, what are you doing in the morning from Monday to Friday? Sadly, you would answer,” prepare to beat the traffic jam or stuff in the packed sardine train or bus compartment.” Is that what you have in the thought and learned in school or university? Anyway, we cannot blame you, but our education system.

“Oh, my dear, study hard and obtain a flying color result and find a good remuneration job when you are graduated” Does this statement ring a bell to you. ” Countless time” you reply.

Now, raise the question,” Do you want to live in Paradise with cash endlessly?” “Yes,” even the dummy would reply to you.

But, why are you still live in fortnight paychecks? You graduated with an Honors degree from an ivy varsity. Do you that Marketing is the highest reward career. In a nutshell, even corporate CEO rise from the Marketing Department.

Fear to talk to a stranger: Do you fear to ask a stranger when you cannot locate a place?

Job Security: Do your letter of appointment stated you are hired for your whole life?

Promotion: You determine your fast promotion.

Now, comes the serious question:-” what is a career”

Be own entrepreneur/Consultant

In the first place, had you ever think of setting up your own business? What is the initial capital outlay? Astonishing, it requires a vast sum at the beginning. Moreover, not to mention the numerous licenses need to apply. Time-consuming, isn’t it so? Furthermore, you need to burn some of your saved money vanishing into the thin with a few sales. Sadly to say, it cannot even cover the overhead expenses like maintenance fee, electricity, water, and wages.

Overall, you need a few years to have a breakeven that is speaking from own experience ventured into a logistic company over a decade. I did marketing followed my own lorry driver canvass from shop to factories. Helped my driver to load the cargo to gain 1st hand experience. Not to mention the working under the sultry hot sun with fast exhaustion, but also cultivated my determination and persistence in life.

“You are stupid!” “Why don’t you operate a retail shop? No sunburn and enjoy the cool breeze of the air-conditioned. Yes, this is true. I totally agreed with you.

However, do you think the customer will flock to your shop daily for a transaction? Are you an established brand store with a lot of cash flow? How long can you compete with them? Not only that, can you compete with an online store with a rocket bottom set up fee with the one-man show? Likewise, in the same manner, people prefer to buy online with good delivery at their door, avoid traffic jams and prickly heat.

But not to dismay, there is always a silver lining in the gloomy sky.

Why Marketing Industry – live in Paradise with cash

I closed the logistics company after ran over a decade. Of course, I did make a little fortune. The scarcity of honest and industrious driver couples with the raining toll cost. Moreover, it requires high maintenance of a fleet of Lorries, in addition to the stress in the wee hours of the morning.

“Boss, the lorry breaks down with a full load of cargo, please sent a spare lorry to transport the said to the port.” The driver’s call really drives me to nut interrupt my sleep.

Beside, ran a transport, I also did Corporative Marketing for a general insurer. I quitted the 9-5 job as a Business Development Manager after 5 years becomes a full-time marketer in the 1998 Asian Finance Crisis. Alas, I find out I could not recruit agents like the Life insurance industry. How sad!

I called and met my mutual fund consultant, without any question, I signed up with him in late November 2002, and sat he written examination in Dec 2002. A month later became a mutual fund consultant. The rest is history.

Flexible working Hour

I kissed the traffic jam forever goodbye. Gone are days earlier morning rush to beat the congestion hour. Moreover, most of the customers would busy with daily work with a tea break at 10 am. I plan my appointment schedule. I closed sell easily at the lunch hour or tea break, very informal style, In the case of marine or fire mega risk, I require to do with a quotation and a few follow-ups.

Financial Independent

In fact, most of us are a moron in finance aspects. Financial savvy is indeed lacking among the elite group of society like those professionals. Engineer, professor, lawyer and underwriter like me included. I was a dummy too. After closing a marine case, I dashed to purchase a Canon Camera with lens and accessories amounting to more than RM50k, and some spare went for a holiday for shooting. Not to mention the Sony video tagged along.

In the end, mutual or unit trust thought me never purchased a book written by a finance professor, it is all theory. In the same fashion, if they are so knowledgeable, why they still teach in the U. Don’t ever listen to their noble excuses “Because I like to impart knowledge”. Absolutely B.S! In fact, a mountain of mortgage debt to cater for even they retire.

So, what book you recommend to read? Look for a book by those authors who once broke and later raising up millionaires. Like books such as written by Robert Kiyosaki and Donald Trump “Why we want you to be rich”. Equally important is the books written by Tony Robbins for positive energy vibration to your brain. It transforms you from a pessimist to optimist.

Then, again, don’t venture into the share market unless you mastering the hedge fund. Your individual capital is a tiny drop of water in the ocean in comparison with the hedge fund player. Be wise; don’t fight with a sword with a bomb.

Types of Income

Frankly speaking, you toil hard for your company. How many types of income you entitled. Namely, you reward with a monthly salary, bonus, and allowance incentives like shift, meal, and transport. But in mutual, they are 8 kinds of income namely, commission, override commission, break bonus, parallel bonus, group bonus, year-end bonus, group overriding, and lastly the most important monthly career benefits. Uniquely, the career benefit only avails in the mutual trust industry, absence in life insurance. So, they are 8 types of income stream flow in your pocket.

Equally important is the career benefit, it flows cash endlessly even though zero sales for the whole year, so you can live in paradise. Which sectors pay you that? Just like the Cantonese saying “Where do you find edible frog jumping in the street?”

Publicity Announcement for Recognition of hard work

Ask yourself this question, “if you achieve your target” What your company rewarded you. “Just a trophy”

But, here in the paradise living, they recognized your effort with incentive free oversea trip and publicized in the local daily newspaper with name and your image. Practically, you bring nothing except your body and personal items, the rest are catering for you with five-star services with ample delicious food. Of course, they dedicated travel guides to plan your smooth seamless tour. Plenty of leisure shopping time, you can shop like a fifth rich tycoon without the blinking of your eyelid. In fact, I added a few kilos in my belly in such a trip.

Loan Subsidies

To say nothing of, do you establishment gives loan subsidies with no string attached the tenure of working period. “Fat Hope, you can fly kite”.

In paradise living, you are giving 6.5% and 5% respectively for housing and car loan. Range from Rm100K the minimum to Maximum of RM 1million for the house. Depending on your ranking Agent supervisor maximum allows it is RM200k. Agent Manager RM500K and lastly the Group Agency Manager of RM 1million for the house.

The Car subsidy gives RM50K for supervisor, RM100K for manager and RM150k for Group Agency manager.

With the surplus cash, are you not living the paradise for up 70 years of age for a house and 10-year loan tenure for a car?

Noble Job

When you work for other people, you have enriched your owner getting rich, while you are getting poorer. Permanently disablement or bedridden, terminated is the only option for you. What a tragedy, your hard work in the past not appreciated. Is that so-called job security for life?

In paradise with cash flow endlessly, the public needs your guidance for financial savvy and freedom financially. Depend solely on active income is not financial freedom. Again, I narrated my own experience, I almost in bankrupt stages when I joined the industry with ¼ of million in debts. Never trust or greedy. Saves a little and invest in the heyday. Spend all the hard earn commission for the endless desire to want. That was the reason for my downfall.

Through unit trust and coupled with the practice of positive energy vibration learned from Master Tony Robbins. 4 summers lapsed; I purchased a house in cash.

Likewise, in the same manner, I guide one of the investors instead of saving in Fixed Deposit but invested in the unit trust. 8 years later, he purchased a condominium in cash at Johor Bahru. Not to mention, there is a surplus equally the same amount of the condominium price, isn’t it a noble job.

Training & Development

No matter, how skillful in your job, you need constant training. Otherwise, you are obsolete like the Kodak Film. Equally important in the mutual fund industry, always update the knowledge from the technical aspects to human touch. As we can see from the smartphone, it keeps on rolling out a new update version of new generation gadgets. Not to forget the digital apps application download from the company.

Invite the fund manager to share and update information, not only to a consultant but also to the unitholder. The company also paid generously to prominent outside speakers to spur the motivation in human touch and relation to consultants? What else could we ask for?

Be it a workshop or seminar, with full participation the consultant. Indeed, a joyful session.

Legacy

If you are the department upon retirement, can you groom your child to take your position? Absolutely No, unless you work for your father company or you own, am I right?

But in this sector, you are grooming your child to take over your position even with a high school certificate for Group Agency Manager.

Unfortunately, if you are unable to groom your kid in time, but you’re next of kin would allow enjoying for cash flow endlessly for the next 5 years based on Nav. In the same way, will your boss treat you this way?

Build up Net asset value for Passive Income

Net asset value is the meaning. When your unit holder invests in a mutual fund, over the year, the accumulation unit of growth, despite the price is down.

Let us say the initial investment of RM100K with 25 cents per unit ignored the sales charge here which is insignificant over a period of 10 years. Thus, 400K units cost with an average price of 25 cents per unit. With distribution payout, initially, he 400K units accumulate 4 million units over 10 years period. Currently, the fear assault of the Covid-19, the price drop to 10 cents per unit. Unlike in the stock, unit trust, the longer you keep, the capital grows. Thus 4million unit x 10 = RM400 000.00. From 6 months later, you are enjoying the career benefit of monthly passive income endlessly without fail.

Gradually, your net asset values grow tremendously if the unitholder leaves for 30 years and later on passed it their children or grandchildren without any unnecessary redemption.

No surprise, some top leaders earning more than RM100k from the career benefit of passive income. Indeed they are life on Paradise with cash flow endlessly.

Finally, could you buy your house in cash like those wealthy guys? Action speaks louder than a word, please call or WhatApps me now as shown in the video, so that you can live in paradise in cash endlessly.

Call or Whatapps Now + 60 013-7839857 or email me at [email protected]