Author Topic: insurance for commercial diver (Read 732 times)

taufik · « **on:** June 29, 2009, 02:13:09 PM »

ok guys..gimme ur opinion abt diz since im not so good with financial and insurance thingy..dia is an excerpt from my insurance agent email to me....

"Prudential can only offer

Death Benefit - 60,000.d policy is rm144 per month

only death. takde total permenant disable as i said before ,
sorry coz i ter-miss understood.
i can offer you another option, which is ..Investment."

"monthly unit trust as your retirement fund, you boleh attach sekali dgn this policy.
no need to open any other account.

RM100 per month after 20yrs with 10% return per annum could give you - RM76,569.69.
your own $$ baru 24,000.
duit ni bukan u kena withdraw after 20thn, u can withdrw anytime.

so, my point is i cuma blh offer you the Death Benefit + Investment account."

so what u all think of this.and if anyone interested to join can pm me so i can hook u guys with d agent.

Snafu · « **Reply #1 on:** July 02, 2009, 01:08:45 PM »

Suggestion:

1. Max your ASB

2. Buy Blue Chip Shares

3. Have account for daily usage...food etc.

4. Have account for Investment...to buy shares, house..etc

5. Have account for Money U dont touch at all...when U grow OLD or fall sick.

Something like that.

taufik · « **Reply #2 on:** July 02, 2009, 01:44:52 PM »

hi mr syed..been long time since last post here...
well..ur suggestion is a good one..
but what do u think about that prudential thingy..
i havent got d money to buy blue chip shares...yet
as for d accounts thing,been planning on dat ..n will do so soon

Snafu · « **Reply #3 on:** July 04, 2009, 05:38:50 PM »

Quote from: taufik on July 02, 2009, 01:44:52 PM

hi mr syed..been long time since last post here...
well..ur suggestion is a good one..
but what do u think about that prudential thingy..
i havent got d money to buy blue chip shares...yet
as for d accounts thing,been planning on dat ..n will do so soon

Hi Taufik,

Sorry I have been very occupied with many things this couple of month and now I am in Miri for work ...Client is Shell Sarawak.

I had to go the direction I posted earlier as no insurance company would cover me.

taufik · « **Reply #4 on:** July 05, 2009, 12:11:54 AM »

its kinda quiet here lately...especially diz offshore section...dont u think so.. maybe low oil price also make divers dont feel like posting things here... since i also plan to be a saturation diver ,maybe i have to rethink about the life-insurance thingy again loh...
maybe they willing to cover me now since i am only air diver,but i doubt they willing to cover if i become saturation divers...
er...any blue chip shares u can rekemen...?

Snafu · « **Reply #5 on:** July 05, 2009, 01:26:37 PM »

Currently oil price is going up and is at USD71 ++.

Is quiet in this section as a lot of diver are out working.

Usually when divers have no work they will look around to find job n when they have work, all will be quiet.

Blue Chip...u can buy any of it from the main board...banking sector, oil sector...etc.

taufik · « **Reply #6 on:** July 14, 2009, 03:25:57 PM »

now im going to link diz topic to some other issue...TAX dat is...big issue now since now look like i have to start paying tax..never paid income tax b4..my contribution to gov coffer all diz while only in form of tobbaco tax..
according to d said insurance agent,d investment dat come with insurance can get me tax examption,full amount..
dat interest me to some extent but since im also new to diz tax thingy,i gotta look around and see what else can be tax-free...
er,so is anyone out there have any way or trick to minimize income tax payment,do share...

Spazm · « **Reply #7 on:** July 14, 2009, 06:31:52 PM »

Quote from: taufik on July 14, 2009, 03:25:57 PM

now im going to link diz topic to some other issue...TAX dat is...big issue now since now look like i have to start paying tax..never paid income tax b4..my contribution to gov coffer all diz while only in form of tobbaco tax..
according to d said insurance agent,d investment dat come with insurance can get me tax examption,full amount..
dat interest me to some extent but since im also new to diz tax thingy,i gotta look around and see what else can be tax-free...
er,so is anyone out there have any way or trick to minimize income tax payment,do share...

Taufik,

For insurance related tax deduction, Personal relief is only RM5000 and that is inclusive of EPF contribution...

insurance for commercial diver