Insurance Ramblings

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When you get older, it is really natural that you think about your insurance. You begin to read about Insurance plans pros and cons and begin to think about what’s best for you and your family without breaking your budget. In this dire times, I really need to think about things I can cut from my monthly expenses.

As part of a near term strategy to cut the bills, I’ll cancel my comprehensive insurance for my car. With that I’ll save money on insurance premium. Yeah, it wouldn’t be really a nice idea but since I have plans to leave the country, I think it would still be best if I just get the compulsory TPL. I will be driving less and less and the participation amount for every claim would deter you for claiming for any accident. And I drive a 12 year old car, so comprehensive insurance is less and less important to me.

But if and when I leave my current employer, part of the things that I’ll be missing is the Employee Benefit Package that includes an accidental death/disablement insurance that is equivalent to 40 times my current basic salary. Not that I want to die or be disabled for the rest of my life just to get that money, there’s a feeling of reassurance that when I die, my family will get something that they can use to continue life without me. Hopefully, my would-be employer would offer the same benefit. Otherwise, I’ll have to buy a new policy. As a matter of fact, I’m currently reviewing the quotes that was given to me last year. Sure enough, Life and Pre Need plans are more expensive my comprehensive insurance. hehe…