Mr. Tan, who’s the top sales guy at a local marketing company. He’s the one who makes sure the company sells its products and does well. But what if Mr. Tan suddenly can’t work because he got hurt in an accident? That’s when keyman insurance comes to help. Keyman insurance is not your usual insurance....
In the fast-paced and unpredictable journey of line, one of the most crucial aspects for responsible breadwinners in Malaysia is ensuring the financial security of their loved ones. Life insurance emerges as a powerful tool in this pursuit, offering a safety net that can provide peace of mind and stability for dependents in the face...
Estate planning and insurance are crucial aspects of financial management, yet many individuals harbor misconceptions that can hinder informed decision-making. Addressing these myths is vital for helping public navigate the complexities of securing their financial future. In this article, we will debunk some common misunderstandings surrounding estate planning and insurance. Myth 1: “Estate Planning...
Based on a 2016 survey conducted by PricewaterhouseCoopers (PwC), it was found that almost one-third, or 31%, of family businesses in Malaysia do not have a plan for passing on their business to the next generation. This reveals a significant gap in long-term planning, which the survey terms the ‘missing middle’. In the realm of...
Peter (45 years old): “My monthly income is between RM10-15k. The assets I currently own are bank accounts, 2 houses, cars, investments and EPF. I have liabilities of around RM1 mil (mortgages & car loans).” For individuals with financial commitments and dependents, prioritizing comprehensive protection is essential. In addition to addressing basic life insurance coverage...
Divorce can be complicated, especially when it comes to deciding who gets custody of the children. Laws like the Law Reform (Marriage and Divorce) Act 1976 and the Guardianship of Infant Act 1961 lay out the legal framework for resolving child custody matters. But beyond just splitting responsibilities between parents, the focus is on what’s...
Ivan (Below 30 years old): “My monthly income is between RM3-5k. The assets I currently own are bank accounts, a car and EPF. I have liabilities of less than RM100k (credit card debt, PTPTN & car loan).” Financial Protection Measures Medical Coverage: Obtain personal medical insurance coverage, estimated to be less than RM300 per...
Estate planning is often associated with married couples, but it is equally essential for unmarried couples, especially a Will is revoked through marriage or re-marriage unless the Will is made in contemplation of a specific marriage. This article explores the significance of estate planning for unmarried couples in Malaysia, delving into the legal protections available...
Will serves as a crucial legal document expressing an individual’s wishes for the distribution of their assets, property, and belongings following his/her demise. In Malaysia, for a Will to be considered valid, it must include beneficiary(ies), asset(s) and property(ies), provisions for guardianship in case of minors, and importantly, the signatures of at least two witnesses....
In Malaysia, assets held within insurance policies are expressly exempted from the estate of the deceased individual. This provision is designed to protect the entitlements of the insured’s spouse and children with respect to the insurance proceeds, thereby mitigating any prospective claims from the creditors of the deceased. The legal foundation for this exclusion is...
LOT A-06-38, IOI BOULEVARD, JALAN KENARI 5, BANDAR PUCHONG JAYA, 47170 PUCHONG, SELANGORServices
Find our news at :
