Car Extended Warranty To Increase Your Car Resale Value

A person’s decision to purchase a car might be one of the most important purchases of his life. It is why many customers agree to pay more for a vehicle with a protection plan, allowing them to be worry-free for a long time. Many people say that buying extended warranties for their vehicles will increase their
resale value
. What do you think about this? Is it just another sales pitch to entice you, or is there some truth behind it? We’ll answer that later, but first, let’s talk about the
car extended warranty
.

Understanding Extended Car Warranty

Extended warranties
 are service contracts that increase coverage, timeliness, and the comprehensive warranty for one’s used car. They are transferable, sold separately, and not included in the purchase price. They become active after the manufacturer’s warranty has expired. There is no requirement for
used cars
 to have an
extended warranty
, but it acts as a security to protect their vehicles from wear and tear, thus enhancing their
resale value
. Factors determining whether a car qualifies for extended warranty coverage include the quality of the vehicle, the vehicle’s age and mileage, the owner’s driving record, resale values, and a licensed repair facility. It is beneficial to
purchase an extended warranty
 if the repairs for your prized possession will be expensive in the future. A typical
extended warranty policy covers
 the following:

The car’s transmission, engine, and drive axel are included.

Additional components such as heating and cooling systems, brake systems, etc., are included in power train protection.

A bumper-to-bumper coverage plan.

The manufacturer’s warranty might still apply to a used car, but that warranty will be limited to a few components. The
extended warranty
 will cover any remaining parts.

How It Affect Resale Value

Getting the right price is the most challenging part of selling a used car. It is crucial to have an extended warranty on hand considering the buyers’ queries regarding unexpected significant expenses. The peace of mind with an extended warranty is also transferable to the next owner. In the case of two identical used cars, view the automobile extended warranty as more valuable.

It will be more attractive if you sell your vehicle outright rather than trading it in at the dealership if you have a transferable used car auto warranty. The fear of a breakdown when shopping for used cars without a factory warranty is common among those looking for a factory warranty. What else would motivate some people to have a vehicle inspected by a mechanic before they buy it? With a transferable extended warranty on your car, these fears are eliminated, and you might be able to sell your car quickly and for a higher price.

Final Thought

The good news is that you will not lose any money should you decide to
sell your car
 after purchasing an extended car warranty. When you transfer ownership, the extended warranty coverage remains intact. Therefore, a car’s extended warranty can be an incentive when being marketed. It is one of the ways to sell a vehicle. It might be unnerving for buyers to
buy a used car
 because it may have problems. However, if they hear that it comes with an extended warranty, they may feel more at ease. So even if you plan to sell your car soon, you should not let that stop you from purchasing an extended warranty for your used car. Your used car will fetch a higher asking price if you purchase extended vehicle protection. However, keep in mind that the vehicle is still covered even after the title has been transferred.

Tags:
Extended Warranty
Resale Value
Used Car
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How Employment Insurance System Can Help You When You Out Of a Job

You are possibly eligible for unemployment benefits under the
Employment Insurance System
 (EIS) if terminated due to the Covid-19 crisis. Still, you must apply within 60 days after losing it.
Employment Insurance System
 (EIS) automatically registers private-sector workers earning more than RM30 per month, administered by the Social Security Organization (SOCSO/Pertubuhan Keselamatan Sosial – Perkeso). As part of EIS, you receive a job search allowance each month (assuming you cannot find a new job within six months), which can last up to six months. A percentage of your last drawn salary will be allocated to you each month as an allowance. In the first month, your allowance is 80% of your salary. Then, it reduces every month. Before losing your job, if you earned RM2,500, you could get the following:

Month

Salary Percentage

Allowance Received

First

80%

RM 2,000

Second

50%

RM 1,250

Third

40%

RM 1,000

Fourth

40%

RM 1,000

Fifth

30%

RM 750

Sixth

30%

RM 750

Perkeso says they will process it within seven days. They will pay the approved applications within another seven days. There is a maximum salary of RM4,000 for the allowance, which is also the top salary for contributions to EIS. As long as you earn at least RM4,000 a month, you will still be eligible for EIS benefits and can contribute to them. However, your contributions and gifts will be based only on the RM4,000 salary limit. Please visit Perkeso’s website for EIS calculations of benefits and contributions.

Who Is Covered By EIS?

Residents of Malaysia or Malaysian citizens

Individuals from 18 to 60 years old (except those who have never contributed to the EIS before turning 57, who the EIS does not cover)

Private sector employees (except for those working for statutory bodies, local authorities, state and federal governments, domestic workers, and self-employed individuals)

Contract of Service-based work

What Does EIS Cover?

Retrenchment /redundancy

Voluntary/Mutual Separation Scheme

Insolvency
 of a company or natural disasters that close the business

Employee resignation (broken employment agreements or sexual harassment and performing tasks beyond the job’s scope).

EIS does not cover the following:

Misconduct leading to employee dismissal

Resignation by choice

Retirement

Expiration of a fixed-term contract between an employer and employee regarding their termination terms.

How Else Can EIS Help You?

You can also receive the following benefits from EIS:

Reduced income allowance: One-time payment based on a percentage of your monthly salary

Training fee: RM4,000 for a six-month vocational training course

Training allowance: A monthly payment of RM20 per day of training for up to 6 months

Early re-employment allowance: Job search allowance recipients who find work while still receiving the funding receive a one-off payment. The recipients will receive 25% of their original job search allowance.

Perkeso also provides the following under the EIS:

Re-employment placement program

Career counseling.

What Is The Process For Claiming EIS?

Visit any Perkeso office or access the EIS portal. To do so, you will need:

Please provide a copy of your IC

Proof of loss of employment (LOE), such as a termination letter,

An account statement from your bank

Last six months’ pay stubs

Other conditions are as follows:

You should apply within 60 days if you lose your job

You should check with Perkeso regarding their contribution requirements

Job loss due to reasons covered by EIS

Additional Assistance

Perkeso now also provides other assistance in response to Covid-19 besides the
EIS
. Employers can also take advantage of the Employment Retention Programme (ERP), which offers them RM600 every month for putting workers on no-pay leave for up to six months. Employers must apply for the program since it is for them who will, in turn, reimburse affected employees. Further details are here. A second option offered by Perkeso is
SIP
 Plus 600, RM600 payments per month for a maximum of three months. You can receive benefits if you registered with
EIS
 and lost your job but do not meet specific requirements. If interested, fill out the application here.

Tags:
Employment Insurance System
Employment Retention Programme
PERKESO
SOCSO
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What Is The Best Way To Switch Insurance Providers?

It happens more often than you might think;

You have an auto insurer that’s been very good for you for years. Suddenly, you discover that their rates are higher than they should be, you can’t access specific discounts, or their services just aren’t as good as they once were. Either way, you know it’s time to move on. But how exactly do you accomplish that? Understanding the process is very important because that’s the only way you can switch insurers properly. We’ll be guiding you through steps that will help you achieve your aim with relative ease!

Welcome! I’m Fincrew brand ambassador Stella. In this episode in the Insurance360 Video Series, I’ll share the necessary info you need to help you make a smooth transition from your current insurer to the best auto insurance provider for you! Be the first to see more helpful videos like this! All you have to do is hit that Subscribe icon and enable notification settings so you can view our great videos upon release! If you’ve done that already, here’s our 5-step approach to getting you the best vehicle
insurance providers
 and policy out there!

Step 1–Explore And Weigh New Options First

Take your time to research the many coverage options out there. The last thing you want to do is rush out of one lousy coverage policy straight into an even worse one. Find the right coverage policy that improves all the things you’re dissatisfied with within your current coverage.

Step 2–Pick The Right Time

With
insurance
, timing is crucial. Because you can’t go out with your vehicle without having
insurance coverage
, you can’t just ditch your current policy before activating the new one. Also, the duration of
insurance policies
 varies, depending on which state you took out the insurance. This is a critical component to consider, especially if you’re relocating during this period. So be sure to time the process of taking on that new insurance provider as entirely as you can.

Step 3–Reach Out To Your Present Provider

Under certain circumstances, your current provider might be willing to make certain concessions to ensure you stay on with them. Before finalizing your move, you could contact your current insurer and highlight your pain points. If they are willing to compromise, great! If not, be sure to inquire if there are any penalties for opting out of your coverage before it ends.

Step 4–Research Your New Choice Extensively

After looking through your options and settling for a new automobile insurance provider, don’t sign on a new policy straight away. Be sure to take the time to research the new provider for possible red flags. You could check for reviews on the company from reputable sources, listen to previous and current insured members’ opinions, among other things.

Step 5–Ensure Your Current Insurance Is Canceled And Take the Final Leap

Don’t make any assumptions here, as running two full
insurance policies
 concurrently can have serious legal implications. Ensure you get in touch with your present auto insurance provider and ensure they’ve duly canceled your package before signing the final contract with your new insurer.

Now, you know all you need to know to effectively switch
insurance providers
. If you want any more information, leave us a Like and comment down below. Be sure to subscribe and turn on the notifications so you won’t miss interesting videos in this Insurance360 video series! Stay tuned

Tags:
Car Insurance
Insurance Policy
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Effortless Ways To Avoid Online Scams And Money Losses

Each year, the number of incidents of
online scams
 and money losses continues to skyrocket! Because of this, as a credit or debit card holder, you must ensure you stay on top of the best online and offline scam protection practices. We’ll be pointing out some of the best ways to protect yourself from being a victim of the rising
online scams
 now.

Never Use Your Payment Card On a Suspicious Online Platform

While this might seem a no-brainer, you’d be surprised at how often most people do transactions on a platform without checking to see if it’s safe first. Yet, taking the time to confirm that you’re dealing with a legitimate platform is vital, as inputting your card details on the wrong forum is all it takes for hackers to steal that data and harm you. So, accomplish simple things like confirm if any website requesting your
financial
 details has SSL certificates.

Follow Your Credit Card Statements Closely

The interesting thing about many
credit card
 money losses is that many people don’t even know they’ve fallen victim to it in the first place! And depending on how the hacker plays it, this can go on for months. The best prevention is to monitor your credit card statements closely. Nothing to hide from these reports, so you’ll be able to easily see which subscriptions you didn’t do yet paid for and any purchases you didn’t make. This approach has another great; benefit; it helps you quickly spot any unauthorized levies or fines subtly imposed on you by your bank.

Be Conscious Of Your Credit Card At All Times

One common way people commit payment card
theft
 today is getting their physical card stolen. You can ensure by knowing where your
credit card
 is at all times. It is more so if you use public transport systems often as these routes can be a hotbed for theft and robbery. By doing this, you can prevent would-be thieves from using the tap and pay function on your payment card after they must’ve gotten a hold of it.

Leverage Fraud Protection Features

In response to the high rate of payment card money losses and thefts, many
credit card
 companies now issue credit and debit cards with a fraud protection plan. It can prove invaluable to you as this feature can considerably boost your card’s security. In addition to this, you can complement the security of your card even further by getting
insurance policies
 that secure you against incidents of theft.

Bottom Line

Making sure your payment card stays safe and secure is a full-time job, as even a moment’s laxity can result in severe financial losses. Using the tips highlighted above, you’ll be in a better position to protect yourself with less stress at all times!

Tags:
Credit Card
Online Scams
Scam
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Top Personal Accident Insurance Companies In Malaysia

Let’s get the facts straight. We can never predict the future, and sometimes we do not have control over it. Accidents are among these things that we cannot control. Unexpected injuries can drastically change a life, and
financial
 strain is especially difficult for breadwinners. No matter how much care we may put into avoiding accidents, it is always better to prepare ourselves and our families (financially) for such incidents. The purpose of
personal accident (PA) insurance
 is to provide compensation in the event of injuries, disabilities, or death caused by accidents. A policyholder receives a tax-free lump sum payment if they are critically injured or die in an accident. We compared more than 20
insurance companies
 based on coverage options, pricing, and more to find the best
personal accident insurance
 policy.

Personal accident insurance from as low as RM8 per month.

Top Personal Insurance Company In Malaysia

1. Etiqa Takaful Malaysia

Malaysia’s Etiqa Takaful is the best overall company for providing a series of personalized accident insurance plans for every country’s citizens. The organization offers different types of
personal accident insurance
, such as Buddy
PA Insurance
, Takaful Buddy
PA Insurance
, RideCare PA Insurance, and Car Accident Special Protection Insurance. If you would like a quote, you can easily access it on the company’s website by selecting your policy type, providing your state of residence, and confirming your age is between 18 and 64. Additionally, if you prefer to discuss your insurance needs directly with an agent, you can call a national hotline to speak directly with an insurance agent. Whether the accident occurs at work or during your free time, your policy will cover it. Beneficiaries will receive benefits directly from the
Insurance Company
 rather than from a medical facility such as a hospital.

2. AIG

AIG, also known as American International Group, offers the lowest monthly premiums among the companies featured in this list, making it our top pick for affordable options. Since 1919, AIG has provided insurance services in over 80 countries around the world. In addition, they offer MyGUARDIAN PA Online, where you can request a quote by selecting an individual or family plan on their website. With AIG, you can buy PA protection for only RM76 per year. The policy offers 100-year coverage.

Benefits:

Medical Expenses and Daily Hospitalization Income – Up to RM5,000 of medical expenses payable to the insured for treating injuries, and RM300 per day if hospitalized.

Accidental Death
 and Permanent Disablement – You may receive an accident-related lump sum of up to RM300,000, depending on the policy you purchase.

Medical Concierge – Take care of yourself during your hospital stay and afterward. If you need arrangements for doctor appointments or hospital admissions, medical monitoring, or home nursing services, our medical concierge team is available 24/7 to help.

Enhanced Coverage With Optional Add-On Packages – Additional benefits such as medical, hospital, and specific infectious disease coverage, such as COVID-19, can be included for an additional premium.

3. Great Eastern Insurance

Choosing The Great Eastern was made more accessible by its excellent service delivery and customer support. If you
file a claim
, an assigned representative will ensure that the process runs smoothly. You can choose from a mix of diverse and personalized plans to protect your family and safeguard what you value most. Different types of
personal accident coverage
 and programs are available through the company, such as GreatShield Active, Platinum PA, Lady Protector, MOS Shield, Easi Shield, Easi Protector, etc. The company offers insurance policies online and through the company’s national hotline, where you can speak directly with a sales agent.

Tags:
AIG
Etiqa Takaful Malaysia
Great Eastern Insurance
GreatShield Active
MOS Shield
MyGUARDIAN PA Online
Personal Accident Insurance
Personal Accidents
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Why You Should Do Comparison When Buying Insurances?

An insurance policy’s purpose is to mitigate risk, and that risk is genuine. It is essential to compare quotes to save money on your insurance policy. Unless you compare insurance quotes from different insurers, how can you be sure that you’re getting the best price? In our modern-day world, you can buy a car or health insurance and renew it online because of the availability of insurance companies’ online services. They are comparing insurance policies before purchase is ideal since there are so many options available. What are the benefits of comparing insurance policies? A few key reasons include:

Get The Most Out Of Your Money

The cost of the
insurance premiums
 is an important consideration when purchasing a policy for your business or car. Comparing
comprehensive car insurance
 quotes from two different insurers can result in a significant difference in premiums. You can easily choose the right
insurance
 policy by comparing quotes online. Thus, you will be able to determine what discounts are offered by different insurers, which will ultimately enable you to save a considerable amount of money. By avoiding this step and purchasing the cheapest plan, your premium may be lower. As a result, it could require you to pay a vast amount as a voluntary deductible at the time of an
accident claim
. Thus, it is essential to know how the policy will cover you before committing. Additionally, it takes only a few minutes of your time, with no additional costs associated.

Savings up to RM300 + Road Tax Deliver To Your Door Step

Understanding The Features And Benefits

There are many features and benefits included in comprehensive insurance policies. However, they can vary significantly among insurance policies and providers.
Auto insurance comparison
 will help you know what features and benefits they include in various approaches.

Understand The Exclusions And Inclusions

It’s essential to read the insurance documents no matter what type of insurance you purchase. You need to know the
exclusions
 and inclusions that you’ll find on the policies before making a purchase. Unless you thoroughly understand the policy, especially its exclusions, you might end up with a policy that doesn’t meet your needs. By comparing insurance policies online, you can find ones that suit your needs.

Have a peace of mind for your next holiday with travel insurance

Choose The Best Add-Ons

Add-ons and
extra coverages
 are purchased, along with your
insurance policy
. A few popular add-ons include
zero depreciation
, 24×7 roadside assistance, engine protection, and NCB coverage. You can increase the coverage of your
insurance policy
 with the aid of these add-ons. During the policy
comparison
 process, make sure you look at the different add-ons that each policy offers. As a result, you can easily choose a cost-effective, feature-packed policy that includes optional coverage that you think might be helpful to you.

Get The Best Plan Based On Your Needs

Insurance plans come in a variety of forms with varying benefits and features. A careful
comparison
 of insurance policies will allow you to channel your requirements and choose the best plan to meet your needs. Do not rely on advertisements that claim to tell you what the best policy is, as every approach is different.

Personal accident insurance from as low as RM8 per month.

Making An Informed Decision

Comparing different policies will help you gain a better understanding of the coverage provided. You will be able to learn about critical factors such as the waiting period, the claim process, as well as inclusions and exclusions. When gathering all the needed information, you will have a better position to make a sound decision.

Tags:
Comprehensive Coverage
Insurance Comparison
Insurance Coverage
No Claim Bonus (NCB)
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Exploring Government Insurance Schemes: What’s Available for You?

COVID-19 has raised our awareness of the importance of
insurance
. A private hospital may charge high if you get an illness that requires extensive treatment. Even though public health care is cheaper, some medicines or surgeries are not government-covered, so you would still have to pay for them at a government clinic or hospital. You may also need to pay some of the cost, even if your company’s
medical insurance covers
 you. Consequently, you may have a lot of debt if you don’t have your medical insurance. For family members who depend on you
financially
, it might be a good idea to prepare them if you pass away or are physically unable to work. A life
insurance plan
 would be the best option in this scenario. However, what if you cannot afford your medical or life insurance policy? Perhaps you should check one of the
insurance
 plans offered by government-sponsored companies, such as mySalam and Perlindungan Tenang.

What Is mySalam Policy?

In mySalam, those with critical illnesses receive free medical
Takaful
. At present,
mySalam
 automatically provides to Bantuan Sara Hidup (BSH) recipients that fall under any of these categories:

Individuals between 18 and 65 years old who are married.

Individuals between the ages of 40 and 65 earn less than an annual income of RM24,000 (RM2,000 a month).

Persons with disabilities between 18 and 65 gain less than RM24,000 a year (RM2,000 a month).

What Is Perlindungan Tenang Policy?

Perlindungan Tenang protects life
insurance and Takaful
 for people in the B40 group. Coverage amounts will vary according to how much is the payment premiums.

How does it work?

mySalam & Perlindungan Tenang

You should have received an SMS alert about mySalam coverage if registered under BSH. You could send an email to
info@mysalam.com.my
 if you did not receive an email or call 1-300-888-938. Government hospitals or hospitals approved by the military and universities can only use the scheme. Click here for the list of participating hospitals. The majority of Perlindungan Tenang plans are available online or through registered agents. Agrobank and other banks also offer these plans. Click here for more information. All plans should be easy to understand and have a straightforward claims process. Companies make payment claims within five working days after completion.

What Types Of Protection Are Available?

mySalam & Perlindungan Tenang

Medical Coverage

You’re eligible for a one-time cash payout of RM8,000 if you’re diagnosed with one of the 45 critical illnesses and RM50 per day if hospitalization up to 14 days is needed. You can now claim up to RM50 per day for 14 days under the COVID-19 plan. You can also file a critical illness claim if you are diagnosed with one of the 45 acute illnesses covered by mySalam due to health complications due to COVID-19.

Life Insurance

You can get life insurance for your dependents if you pass away or become permanently disabled (depending on your Policy). The complete list of
life insurance
 plans under Perlindungan Tenang is available here.

Family Takaful

It is a Shariah-compliant life insurance policy that provides a lump sum of money to your dependents if you die or become permanently disabled.

General Insurance

Plans like these usually cover your home’s fire insurance. For a complete list of Perlindungan Tenang plans, click here.

What Are The premiums/Takaful Contributions?

mySalam & Perlindungan Tenang

Free

Life insurance: Coverage ranges from RM6,000 to RM25,000 per month, with optional coverage of up to RM100,000. Family Takaful plans: Coverage levels start at RM39 and go up to RM195 yearly.

General insurance: An annual coverage amount of RM10,000 is approximately RM75 ringgit.

What You Need To know

mySalam & Perlindungan Tenang

Verify Your BSH Registration.

If you want to claim benefits, you can do so through the mySalam claims portal or the mySalam website. Your doctor must fill out a claim form to send in. You will also need to make a different arrangement if hospitalized. If your claims are approved, you’ll receive your payment within two weeks of sending your documents. You’ll receive the funds in your registered bank account for the BSH scheme. Don’t forget to update your bank details if the scheme does not include yours.

MySalam coverage’s expansion was under Budget 2021 to include medical devices such as heart stents and prosthetics. Do not deal with anyone other than authorized agents and companies. Please refer to the links provided for life insurance and general insurance providers to verify a company’s approval. Takaful plans are also listed here. See which plan fits your budget the best by comparing a few. Consider a plan with more coverage if you have family who depends on you financially. Choose a beneficiary among your dependents. This individual will receive the funds if anything happens to you. Make sure they know who you have chosen!

Explain your rights and responsibilities to your agent or company, and make sure you understand them. Make sure your beneficiary knows how to make a claim; how you make claims will vary if you get your plan from a Takaful or insurance company.

From 1 April 2021, eligible B40 recipients will receive an RM50 voucher for Perlindungan Tenang products. As of 2025, Perlindungan Tenangs with an annual contribution or premium value of up to RM100 will be exempt from stamp duty.

Although these plans can be helpful for people who cannot afford standard insurance/Takaful plans, you should know that they may not offer as much coverage or benefits as your regular insurance/Takaful plans. Even so, it’s better to have insurance than no insurance. If you want coverage or are just learning about it, look into mySalam or Perlindungan Tenang, so you have some financial and medical protection!

Tags:
mySalam
Perlindungan Tenang
Takaful
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Disinfecting & Sanitizing Your Vehicle

You may think that a car is an enclosed space, so there is less probability of contamination. Well, you’re mistaken. According to a survey, car steering wheels were found to be four times dirtier than toilet seats. Though the coronavirus pandemic has made many to be working from home and spending less time on the roads, cars and steering wheels can still be a breeding ground for viruses.

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Where To Disinfect In And Out The Car

The first step to
cleaning and
disinfecting
 your
car
 interior is knowing where to disinfect. There are some surfaces you touch more frequently, and there are some grey areas you rarely touch. All these areas are essential to be disinfected regularly. Here is a quick rundown of those areas:

Steering wheel

Key and remote fob

Interior and exterior door, trunk handles and pulls

All buttons and knobs

Rearview mirror

HVAC vents

Gear selector

Trunk signal lever

Windshield wiper controls

Center console and armrest

Seat belt and buckle

Parking brake handle and release lever

Display screens and touchscreens

Cupholders

Seats and seat adjustment knobs

What To Use?

Though most common domestic disinfectants are quite useful, however, some are not ideal for use on your car. These include bleach, hydrogen peroxide, benzene, thinners or other harsh and abrasive cleaners. These disinfectants can
damage your car’s
 fabric and interior surfaces. The Center for Disease Control (CDC) lists disinfectants that meet the criteria against the coronavirus. The common brand names include Clorox
Disinfecting
 Wipes, Lysol brand Clean & Fresh Multi-Surface Cleaner and Purell Professional Surface Disinfectant Wipes.

For most vehicle’s dashboard and dials, 70% Isopropyl alcohol is safe. It’s a common disinfectant used in schools and hospitals. Rigorous washing with soap and water will work just fine too and sometimes may be a good choice if you have older, cracked upholstery. As the temperatures increase, you probably want to reconsider keeping large bottles of hand sanitizer in your car. Heat buildup could cause the bottle to swell and burst, thereby creating a mess. While no amount of cleaning can give the assurance that one is exempted from the coronavirus infection, experts agree that vigilance and cleanliness are critically crucial to preventing the spread.

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How To Properly Disinfect A Car

The Center for Disease Control recommends wearing disposable gloves for cleaning and disinfecting surfaces. However, before you begin the process, wash your hands with soap and water. If a surface appears dirty, you probably want to clean it with soap and water before disinfection. For
car interior
, a soft cloth dampened with soap and water should do just fine to wipe down hard surfaces. After that, the following these steps follow:

Begin the process with the four exterior door handles and fuel cap, wash with soap and water, then work on the interior.

Empty all surfaces and areas you would normally empty.

Clean and wash the nooks and crannies of the interior surfaces with car-safe soap and water thoroughly.

Spray hand sanitizer onto a clean, soft cloth towel and wipe over surfaces.

Disinfect hard surfaces by wiping down with the disinfectant solution. Finally, wash your hands with soap and water.

Tags:
Center for Disease Control
Clorox Disinfecting Wipes
COVID-19
Disinfecting
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Understanding The Policy Reserve In Life Insurance

The policy reserve is a sum of money set aside by insurance companies to pay claims made by policyholders who have completed or expected to make legitimate claims for their policies. It is to pay out unpaid claims that insurers have incurred.

Understanding The Concept Of The Policy Reserve

Financial protection is the main reason why people purchase insurance coverage. The company offering this service charges customers a premium so that it can assume this risk. Insurance premiums are payments made to the insurance company by individuals or small businesses monthly or semi-annually or pay upfront before coverage begins. By agreeing with customers, an
insurance company
 accepts all liability in the event of an adverse occurrence that damages what it agreed to insure. Taking responsibility for a legitimate claim means paying the insured. An insurance company handles claims against each policy it sells every year. If an
auto insurance
 policyholder is involved in an accident, they can file for reimbursement to claim their vehicle’s damages with their insurance provider.

Property losses caused by fires, for example, are easy to estimate and quickly resolved. The settlement of some types of
insurance policies
 is more complex and may happen long after the policy has expired, such as product liability. In the context of
insurance policies
, a
policy reserve
 is a fund that was reported but not settled (RBNS) or incurred but not reported (IBNR). Each file that fits these descriptions will be assigned a claims reserve, reflecting the company’s estimate of the eventual settlement amount. As the amount owing on any given claim is not known until settled, the outstanding claims reserve is an actuarial estimate.

It is the claim adjuster’s responsibility to estimate the amount to be paid. One method for determining the monetary amount of the claim reserve is based on either the claim handler’s judgment or statistically by evaluating past data to establish loss projections in the future. Throughout the
insurance contract
, policyholders pay a portion of their premiums to make up the
policy reserve
.

Special Considerations

Insurers can find it difficult to accurately determine how much money needs to be set aside for policy reserves. Reviewing helps, although this does not mean that they allocate adequate funding. A significant underestimation can hurt investors by eroding the trust they place in accounting practices and dumping shares. The assessment of claims that were incurred but not reported (IBNR) is particularly challenging. For example, an employee may inhale asbestos while performing their job yet not file a claim for an illness arising from the adverse event for 20 years after the adverse event occurred.

Claims Reserve Recording

An outstanding claims reserve is a liability recorded on the balance sheet of a company. They are liabilities because they need to settle this in the future. Therefore, policyholders may be liable for these occurrences. The claims reserve is adjusted during the claims settlement process as each case develops and new information is obtained. During the claims settlement process, the insurer will incur expenses such as fees for claims adjusters, investigators, and legal assistance, as well as the expected settlement amount.

Tags:
IBNR
Life Insurance
Policy Reserve
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Ways To Shake Off The Effect Of The Pandemic On Your Finances

The advent of the Covid-19 pandemic signaled a profound change in life as we knew it. Not only were lives lost, but the financial structure of many industries in Malaysia also took a significant hit. Yet, we must live our best lives, even in the face of this unrest. Thankfully, there are simple and practical steps you can take to keep your
finances
 going strong, even in these times. Here are a few of them.

1. Consider

Consolidating Your Debt

In times of
financial
 instability such as this, it’s only logical to turn to loans to find a way to sustain yourself. However, once the worst
financial
 emergency is over, you need to make clear your debt a significant priority. It would help if you listed all the debts you currently owe and then, depending on the loan size and the interest rates, choose the best debt clearance method. Clearing your debt mightn’t feel like a pressing concern right now, but once done, you’ll be glad you did it, as doing so comes with a sense of relief and an increased cash flow!

2. Find a Different Approach To Managing Your Cashflow And Budget

For the immediate future, it’s safe to say that it’ll be a long time before things return to normal. So, pending that time, you have to adjust to the new terrain. It means making significant lifestyle changes. While doing so, it’s essential that you also be mindful of specific traits that can become harmful if left unchecked. It includes but isn’t limited to excessive online shopping and spending more than necessary on groceries. At the moment, your primary goal should be focusing on budgeting, analyzing the changes in your cash flow, and finding the most efficient ways to use what resources you have at your disposal.

3. Build Your Emergency Savings Again

Like most Malaysians, one of the first casualties you must’ve sustained at the height of the
pandemic
 was your emergency savings. It is even more likely to be the case if you lost your job during this time or had to take a pay cut. So, while it may be hard to do, especially now, you should also make building your emergency savings a priority. Doing so gives you a cushion to fall back on if something unexpected happens and you need funds quickly.

4. Re-Evaluate And Re-Establish Your Financial Goals

Lastly, find a way to reassess your financial goals objectively. Recent events would change your approach towards
finances
 and investment. Because of this, you need to take the time to find your bearings. Give yourself some breathing room and set achievable short and long-term financial goals.

Slowly but surely, you will be on track.

Tags:
Cash Flow
Debt Consolidation
Financial
Financial Goals
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4 Major Reasons You Need To Check Your Credit Score Regularly

If you aren’t particularly finance-savvy, you likely don’t look into the various aspects of your money affairs unless you need to. Although there’s no harm in this, you should know that working like this may not always be in your best interests. Checking your
credit score
 frequently might be a bit of a hassle. However, the amount of
financial
 control and influence it gives you is unparalleled. When you
know your credit score
, you know what’s happening in your economic life and can better position yourself to make any moves necessary to secure your future. Below are only a few reasons why it always pays to
know your credit score
 at any given point in time.

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1. It Helps You Understand Your Current Credit Position

When you know what your
credit score
 is saying, you can effectively eliminate the guesswork from your plans. You will know just where you stand, but you also get all the tools you need to prepare for the future.

Can you afford the vacation you’re planning?

Are you suitable for your
next loan
?

Have you missed any repayments recently?

Knowing your credit score helps you answer these questions and act accordingly.

2. It Helps You Keep Your Credit Score High

Arranging your finances in the country can be unnecessarily tricky if your credit score isn’t in good shape. However, you can avoid much of that unpleasantness if you watch your credit score. This seemingly little detail can prove what makes the difference between whether you get a job or pass a
background check
 for tenancy.

3. It Helps You Predict What Lenders And Banks Will Likely See

Due to one reason or another, most people have to take out loans.
Getting a loan
 depends entirely on what the financial institution or bank thinks. If they believe you have a good financial record, they’ll extend the loan to you, or else, it’ll turn you down flat. Knowing your current
credit scores
 can better predict how a loan or credit application is likely to go. With this ability, you’ll be better positioned to move things around to increase your chances of getting what you want.

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4. You’ll Gain Crucial Insight Into What Helps And Hurts Your Credit Score

For better or worse, most of our financial actions reflect clearly on our credit score. Consequently, it always pays to keep an eye on your score because you can easily trace your actions when you see spikes and fluctuations. From here, you’ll know the things you need to quit doing and the ones you need to start.

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Takeaway

A credit score is all-important in the country. As such, you need to take it very seriously. If you’d like more clarification on how to proceed, check here.

Tags:
Credit Score
Financial Institution
Loan Application
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Group Travel Insurance – What It Is And 3 Reasons Why Every Group Should Get One

Traveling is one of the most fun and engaging activities you can do as a group—however, half the hassle of going on a trip preparing for the said journey. In addition to ensuring you pack the right clothes and have a well-laid-out itinerary, one thing you can’t afford to overlook is
group travel insurance
. Here we’ll be discussing what this coverage is and why you’re better served to get one.

Group Travel Insurance – What It Means?

It is a type of coverage extended to a group of people that offers them protection in the event of various circumstances. This type of coverage is precious for a group of people on a trip as you’d be exposing yourself to unfamiliar territory. You may be wondering, why bother to get
group travel insurance
 if you already have
medical insurance
? Well, getting group travel insurance not only acts to complement those insurance policies, but it does so while helping you prevent any incidence of adverse selection. Some reasons why getting group travel insurance is always a clever play is that;

It Offers a Needed Extra Layer Of Protection

While it may not happen too often, even a rock-solid
medical insurance
 policy can fail you if you are on a trip. As traveling is no longer as simple as it once was, you can’t be too careful to ensure your group’s safety. The cost of getting group
trip protection
 is minimal, but the peace of mind it comes with is priceless. As you would’ve fully compensated for every random variable this way, you can be completely relaxed while on your trip.

It’s Highly Cost Effective

Did you know that
buying a group travel
 package is cheaper than getting coverage individually? Because you’ll be coming in with multiple people, you give your insurer the latitude that they need to offer you maximum discounts. So, you can keep yourself and your group perfectly covered, but you can do so without breaking the bank!

Have a peace of mind for your next holiday with travel insurance

Get a Chance To Earn Something Too

The perks never stop with this type of coverage. Getting group
travel insurance
 won’t only protect you, but you can also leverage this policy to get a little extra! If you continue bringing groups to a platform like ours to get group coverage consistently, you’ll be allowed to leverage our customer loyalty service! More than this, if you want, you could become a sales associate and get a commission every time you come for this coverage.

Bottom Line

With so many advantages to getting this kind of policy, there’s simply no reason why you shouldn’t at least consider it. Don’t forget anything can happen on a trip. Not many coverages can protect a group on a journey quite like this policy. And, as you can’t enjoy yourself if thoughts of what could go wrong keep bothering you, this policy can bring the relief you need to let loose.

Check out some of the best group travel insurance packages around here.

Tags:
Group Travel Insurance
Insurance Coverage
Medical Insurance
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What Happens If You’re Late On Your Car Insurance Payment?

Every driver knows that
auto insurance
 is a must-have if you want to keep your vehicle on the road in the country. But what happens if you aren’t able to make a
car insurance payment
 on your policy when it’s due? What should you expect to happen in the aftermath? What step can you take to rectify or minimize the damage caused? We’ll be looking into all these and more extensively in today’s show!

As you already know,
auto insurance
 is the financial protection that you get for your vehicle, so you
don’t have to pay out-of-pocket if your automobile is damaged
 under pre-established circumstances. Now, whether you’re covered under the basic
Third Party
, Third Party, Fire, and Theft or Comprehensive coverage, you have to make certain payments in return for this protection. Failure to make the payments of your premiums when due or not making payments at all can have rather far-reaching consequences. Failure to live up to this responsibility can be legally construed as a breach of contract.

Should this happen, your insurer reserves the right to effectively cancel your policy, and you mightn’t even be aware of the fact. What’s more, in extreme cases, this is also enough to have your
driver’s license
 withdrawn. Needless to say, that not paying your
insurance premiums
 will reflect very badly on your financial record as well. And because you can’t even put your
car on the road without insurance
, failing to pay your premium effectively means that you won’t be able to drive anywhere until you fix this problem. So, how do you go about sorting through this and preventing the worst from happening? Well, in most cases, you can work things out with your insurer before everything gets out of hand. This will usually involve reaching out to your agent or the person in charge of your policy and finding out if your insurer operates a custom late payment fee.

Once you have made the late payment fees and you have come to an understanding with your insurer not to repeat paying late, your policy will be reactivated, and that would be all. However, in some cases, you cannot sort things out with your current
insurance provider
. In this case, you need to start shopping for another insurer. This needs to be done quickly as it won’t be a very easy feat to accomplish. Ultimately, as we said before, it’s best to avoid defaulting on your
car insurance payment
, if you possibly can. That remains the best way to avoid any complications with your policy.

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Tags:
Insurance Premiums
Late Payment Fee
Third Party Insurance
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When Should I File My Car Insurance Claim?

Simply put, the best answer to this question is almost always; as quickly as possible.
Filing an
insurance claim
 is an incredibly legal process that requires you to follow certain steps at specific points in time if you want to achieve the desired result. Failure to follow these steps could lead to your
insurance claim
 being denied or not paid in full. Being involved in a
car accident
 or having your car stolen is something no one ever wishes for. It’s messy, it’s dangerous, and people could get hurt. It is for these reasons that you should ever find yourself in either of these unpleasant scenarios, and you must guard your wits, first and foremost.

Car insurance
 is an essential criterion for being on the road. For people who do everything they can to drive carefully and pay their premiums on time, it’s vital you know when to take action in cases of accident or theft so you can enjoy the full benefits of your
insurance policy
.

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If You’re Involved In An Accident

First, you need to make sure you’re okay. Once you’re confident you’re fine, you can contact the authorities, if necessary. If not, it’s always advisable you contact your insurance company immediately after. If you can’t do that right away for some reason, ensure you do so no later than 24 hours after the
car accident
. The importance of this can’t be overstated. First, the longer you wait to report an accident to your insurer, the harder it is for them to ascertain your claim. Second, it also means you’ll have to wait longer to receive any payout for your
insurance claim
. Depending on the
insurance coverage
 you operate and the nature of the accident, you are entitled to filing two types of claims:

Own Damage Claim

You can only file this claim to your insurer if you are on a comprehensive insurance policy. As a result of this, however, you may lose the benefits of having a
No Claim Discount
.

Third-Party Claim

This claim is filed by the insurance company of the other party involved in the accident. It is only valid if it has been confirmed that you bear no fault in causing the accident. In this case, it doesn’t matter what insurance plan you’re on. Consequently, your
NCD
 is left untouched.

If Your Car Has Been Stolen

Report this incident to the proper authorities at once! Contact your insurer immediately after. Keep in mind that you can only expect payout if you’ve taken out more than the basic
car insurance
 package. In cases of
car theft
, you can usually expect a payout from your insurer after about six months. Typically, this is how long it takes for the police to close such cases.

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Types of Damages You Can Claim

General Damages

Pain and suffering to your person or passengers resulting from the accident are filed under here. You can only
claim
 this compensation from the insurer of the other party involved in the accident. That means that the other driver has to be deemed responsible for the accident to receive any payment. Therefore, the amount of compensation you get here depends on how involved you were in causing the accident.

Special Damages

This claim covers any of the following expenses resulting from the accident. The
type of insurance
 you have will determine the extent to which these expenses are covered.

Medical expenses

Costs of transportation

Cost of vehicle rental, and so on

Conclusion

You can’t control how or when accidents happen. However, you have control over what you do after they occur.

Contact the appropriate authorities immediately after an accident. Don’t wait more than 24 hours to get in touch with your insurer. Lastly, be sure you understand the extent to which your
insurance coverage
 financially protects you.

Tags:
Accidents
Car Accident
Insurance Claims
Third-Party Coverage
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Four Advantages For Having a Good Credit Score

It can often be surprised when you hear talk of people building their credit scores. If you’re not very familiar with such matters, you might be wondering just what the fuss is about. After all, you can do all you want financially, and you don’t even know what your current credit score is! So, why should you even be bothered about having a good or
bad credit score
? Well, here are some
things you need to know
! Before anything else, our team would like to emphasize the
importance of knowing your credit score
. We’ve highlighted the most important reasons you should always watch your score here. Here are only some reasons why having a good credit score is excellent:

1. It Increases Your Chances Of Credit And Loan Approval

Suppose you have a higher score, the higher your chances of getting virtually anything you want from banks or lenders. Most
financial
 institutions generally consider people who score 650 and above are typically regarded as responsible and diligent. As such, these bodies are always eager to do business with them. A
credit score
 is almost always a strong indication that you pay your bills on time, and what lender doesn’t want that?

2. It May Afford You Lower Interest Rates

Some financial institutions will often encourage people to do business with them by offering a cost-effective interest rate plan. However, more often than not, such features are more commonly reserved for individuals who have a good credit standing. Inversely, the fewer financial bodies willing to extend credit to people with poor credit scores will often do so only with considerable interest. Due to this, it pays to have a
good credit score
 as this will at least save you from paying exorbitant interest rates.

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3. It Gives You Superior Negotiating Power

As times are tough, it should not surprise that individuals with excellent credit are a rare commodity. It gives the few who have maintained a stellar credit score a significant edge. The direct implication of this is that banks and lenders will be more willing to listen to what you have to say and, in many cases, make concessions to ensure that you don’t take your business elsewhere. Your credit score will clearly show that you have all it takes to pay them back; you can almost always negotiate better deals.

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4. It Helps You Get Higher Credit Limit

Again, it all boils down to trust. A
good credit score
 shows that you are trustworthy regarding money. Because of this, it won’t be challenging to increase your
credit limit
, should you wish to. So, you can choose to either secure a one-time or permanent
credit limit
 increase, all without stress!

Malaysia Credit Score Table

Conclusion

Do you see the perks of having a good credit standing now? If you want to enjoy all of that and more, the first thing you need to do is check your score.

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Tags:
Bad Credit Score
Credit Limit
Credit Score
Good Credit Score
Loan Application
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Death Cases That Not Covered In Term Life Insurance

Regarding making sure your loved ones’ future is secured,
term life insurance
 is one of the most well-known options for you.
Term life insurance
 grants a lump sum death benefit to the insured’s family if there should be an occurrence of an inevitability. Even though life
insurance plans
 intend to give
insurance coverage
 to the insured individual’s recipient, there are certain prohibited death cases, so it’s important to know which death cases are not covered in your policy. This article will talk about the kinds of deaths that are not covered by term life coverage.

Suicidal Death

A common situation where term life
insurance coverage
 will not payout is in the case of suicide. Suppose the policyholder commits suicide within the specified time frame of the suicide clause policy, usually the first two years of the policy. In that case, the beneficiary won’t get the death benefits. Be that as it may, most insurers provide suicide coverage from the second year onwards from the date of acquisition of the policy, subject to terms and conditions.

Smoking And Other Health-Related Issue

The incontestability clause becomes the most critical factor again if you were not precisely straightforward about your past smoking habits or if you somehow neglected to refer to that you have a condition, for example, hypertension. On the off chance that the insurance company discovers this during this one-to two-year time span, it has the option to drop your policy. Suppose you don’t refer to that you have hypertension on your application in the same vein. Afterward, you bite the dust in a way that has nothing to do with your hypertension — might be in an auto crash — inside the time of contestability. The
insurance company
 could affirm that you had hypertension and that it might have been the reason for your death. In which case, they will not pay your beneficiary the death benefits.

Illegal Activities

It goes back to that initial proclamation about sound judgment. If you pass on while carrying out wrongdoing or partaking in illegal activity, the insurance company can decline to make a payment. For instance, if someone is murdered while stealing a vehicle, the company will not pay the beneficiary. OK. That’s genuinely self-evident. This next point may amaze you. Consider the possibility that you’re doing something illegal and you don’t know. Perhaps you’re strolling on
private property
. Intruding is a crime — even if you don’t realize you’re intruding. Suppose a dog is pursuing you, and you have respiratory failure and bite the dust. If it appears that you were invading, your
claim
 could be denied.

Death Under The Influence Of Alcohol

On the off chance that a policyholder’s death is due to
driving under the influence
 of liquor or opiate substances, the insurance company will dismiss the claim.

Death Due To Natural Disaster

If a policyholder with a term life
insurance
 plan kicks the bucket due to a natural disaster or a catastrophic event, for example, a quake, or tropical storm, at that point, the beneficiary won’t get the claim from the insurance company.

Tags:
Life Insurance
Natural Disaster
Suicidal Death
Term Life Insurance
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How Auto Insurance Claims Work

When an insured vehicle gets into a mishap, the car
claims insurance
 will often defer, depending on the scenario or situation under which the vehicle sustained damage. No one really plans for it–However, at some point, the unthinkable inevitably happens. Perhaps your car was involved in an accident where no lives were lost, but it took a huge hit, or your vehicle was stolen. In times like these, the insurance you’ve been taking pains to pay off bears its sweet fruit of benefits. Whether your car got pilfered, looted, or involved in an accident (regardless of who was at fault), the first thing that comes into play here is the type of
insurance
 you took out. After this, the condition under which
loss or damage came to the car
 will then factor in.

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In the Case of Theft

In many ways, this particularly unpleasant scenario is where the type of
insurance on your car
 matters the most. The validity of your
claim
 for insurance will only be considered if you possess

Comprehensive cover, theft cover, and third party fire

The primary third party
insurance policy
 doesn’t extend to you or cover your vehicle in the incidence of theft. Instead, it is to protect and compensate
third parties
 in demise, bodily injury, or property destruction.

Circumstance of Theft

Basically, should the
car be stolen
 while not in your possession, you might find your
insurance claims
 rendered invalid. What’s more, considering the nature of the vehicle’s loss, processing a valid claim takes a significant amount of time, as upon notification of the
theft
, the police and your insurer would have to conclude their investigation first before anything else.

In the Case of a Road Accident

Should you find your vehicle involved in a
road accident
, you can
claim insurance
 in two ways.

You can:

Claim from your insurer, or

From the other party’s insurer

Claiming From Your Insurer

You should note that you automatically lose your
No Claim Discount (NCD)
 benefit if you opt to do this. It is also essential that you follow due process promptly. For example, you need to file an incident report with the police within 24hours after the occurrence. Failure to do this within that time frame could mean an RM300 fine for you! Also, expect to inform your insurer of the accident as well promptly. Ideally, if you had your car moved to a body shop endorsed by your insurer as quickly as possible to ensure that you get your vehicle back within a short period. All that’s left is for you to fill the
insurance claims
 document and return it to your
insurance
 company. From there, an adjuster will take over and see to it that work begins on your car.

Claiming From the Other Party’s Insurer

Bear in mind; this only works if you aren’t the party at fault. After you must’ve reported the accident to the police, you’d need to send your vehicle to the workshop of the faulty party’s insurer. You’d also need the services of an adjuster to determine how much the repairs will cost and get a
CART (Compensation for Assessed Repair Time)
. At this point, you’d have to finance the payment for the repairs yourself. After you’ve sent certain documents to the faulty party’s insurer, you’d be promptly reimbursed.

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General and Special Damages Claim

Depending on the
coverage your insurance
 offers, you may be able to lay valid
insurance claims
 to specific damages. For instance, should you suffer injury as a result of the accident, the other party is liable to compensate you. They would pay you fully if they are entirely at fault or partially if you bear some responsibility for the accident, called General Damages, whereas Special Damages refer to the expenses you have to incur as a result of the accident, such as repairs and medical expenses.

Tags:
CART (Compensation for Assessed Repair Time)
Fire and Theft Cover
General Damages
Insurance Claims
Special Damages
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4 Reasons Why Group Travel Insurance Makes Sense

Perhaps you’ve finally won your partner over to the idea of taking the whole extended family to Mexico. Maybe you’re a priest on a mission trip to Africa or an art professor leading a group of college students on a quick visit to New York City’s museums. Perhaps you and some buddies are finally checking off the world-famous golf courses on your bucket list. Whatever your situation, you should always be sure to secure
group travel insurance
 for everyone on your trip before you go anywhere.

Why Buy a Group Travel Insurance Policy?

We realize that
purchasing travel insurance
 isn’t one of the most enjoyable aspects of planning a trip. Dinner reservations and finding the perfect vacation rental are probably more important than having everyone fill out an insurance form. There is good news, though – Fincrew can help simplify the process. The following are four
reasons you need travel insurance
 for your family, girls’ group, school, or volunteer group.

Domestic Health Insurance Does Not Apply Abroad

If you have a multigenerational family going abroad or a group of international volunteers, it’s essential to understand that your domestic health
insurance
 won’t cover you overseas. Check the details of what is covered by each provider before traveling. Since domestic health insurance usually does not cover travel abroad, you would be responsible for the costs incurred if you get ill or injured in another country and navigate the medical system there on your own. Nevertheless, you can benefit from travel
medical insurance
.

You Are Traveling To a High-Risk Destination

Every group isn’t like this. The truth is that thousands of families visit Disney every year without incident. Some groups, however, may face increased risk due to the nature of their travel. Many mission groups, for instance, travel to less-developed countries or rural regions off the beaten path. Whenever this occurs, something can go wrong – someone becomes ill or injured, baggage gets lost while traveling to a remote location. Also, getting the appropriate medical treatment in an emergency will be more difficult when you need help. If a facility where you are staying cannot provide the level of care required for your medical condition, Fincrew travel medical insurance can provide emergency medical evacuation.

The More People, The Greater The Risk Of Mishaps

Next, we will cover basic rules of probability as a reason why you should have
group travel insurance
. The possibility of something going wrong increases as travelers adds up too. It is more likely that they can turn ankles on a vineyard tour and that their lungs will catch a cold or respiratory illness. There might be damage to baggage by the airline, and it is more likely that lose money will happen if there is a canceled trip. Companies cannot eliminate risk, but
travel insurance
 reduces the amount of damage caused by it. If you compare the cost of not insuring everyone with the cost of insuring a group, but insurance cost of a group is minimal. Protecting a group’s ethical and legal implications can be especially relevant when traveling with school groups, sports teams, or NGOs. Still, they can also apply to multigenerational family trips.

It Is Easier To Enroll As a Group

If you’ve ever led a group for work or have been the one to organize your squad of friends’ trips, you know how tricky it can be to get everyone to complete paperwork, pay for travel arrangements, and handle all the other logistics. There’s always one person who is less responsible for their choices if there is a “responsible” person. You can enroll more people when purchasing
group travel insurance
 than individual policies. Choosing the group’s destination and trip dates is as simple as selecting the dates for a solo trip and providing the age range of the travelers. If each person has unique needs, you can customize coverage for them if everyone in the group chooses the same coverage. One person pays for the plan with a credit card.

Have a peace of mind for your next holiday with travel insurance

Choose The Right Travel Insurance For Your Group

If you or your traveling companions want more reasons to consider
travel insurance
, visit www.fincrew.my. If you have any questions about coverage, we can answer them and help you select the best plan.

Tags:
Group Travel Insurance
Health Insurance
Travel
Travel Insurance
Trip Insurance
Vacation Insurance
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Guide To Getting Business Loans For Online Sellers

E-commerce has a lot of potential in Malaysia. There’s zero doubt about that. But even with this, it isn’t uncommon for eCommerce and online sellers to struggle a little with getting the ball rolling. So, if you want to get
business loans
 to boost your online business, follow these three (3) simple steps:

Step One – Attend To The Legal Affairs Of Your Online Company

As every Malaysian knows, legalities are essential in the country. Because of this, you need to make sure you’re very clear on the specifics of what type of
online business
 you’re running. In addition to the above, you should also ensure a good picture of the local market. Along these lines, one thing you should be intimately familiar with is the debt collection law in the country. Finally, ensure that you have any license or permit necessary to run the type of
online business
 you’ve set up.

Step Two – Prepare a Clear And Concise Business Plan

Even family members will be hesitant to extend you a line of credit if you don’t give the impression that you’re well put together and have a clear idea of where you’re going. It goes double for corporate finance institutions. Consequently, it would help if you had a detailed and specific business plan. But having said that, it can be challenging to prepare a proper business plan. To help with this process, you can start by putting down all your thoughts and ideas for the online venture as well as your short and long-term goals for the virtual enterprise. It can help you get a clear sense of where you will go so you can prepare a more constructive business plan.

Step Three – Start Knocking On Doors

Now that you’ve defined your brand and have a good business plan handy, the next thing on your to-do list becomes finding the best
business loans
 for your enterprise. One of the most practical and efficient ways of doing this is by looking at what funding opportunities the government is offering. Five (5) fantastic funding schemes we love are;

The TEKUN Financing Scheme.

Soft
Loan
 Schemes for Services Sector or SLSSS.

The Tambung Pembangunan Pengangkutan Awam Scheme or TPPA.

Tabung Usahawan Siswazah or TUS Scheme.

SME Emergency Fund Program or SMEEF.

However, as many of these programs tend to have a long waiting list, they aren’t always ideal for online businesses that need the influx of cash as soon as possible. So alternatively, you can use the FinCrew Small and Medium Enterprise (SME) Loan
Comparison
 tool to get a rundown of what options you can access more quickly. It’s simple to use, delivers excellent results, and it’s completely free!

Check your company eligibility & apply business loan online.

Conclusion

Getting your online business rolling can take a lot of resources. But now that you have better ideas to get more funds, we hope you have an easier time with the affair! See this for more help on securing outstanding
SME business loans in Malaysia
!

Tags:
Business Loan
Online Business
Online Seller
SME Emergency Fund Program
SME Loan
Soft Loan Schemes for Services Sector
Tabung Usahawan Siswazah
TEKUN Financing Scheme
The Tambung Pembangunan Pengangkutan Awam Scheme
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Why Do I Need a Will And When I Need To Write a Will?

One of the most important documents one can acquire is their last will. But unfortunately, so many of us put it off for too long. It is a common misconception among Malaysians that they are too young to
need a Will
. People often think they don’t own enough assets or have enough net worth to
need a Will
. Some even think it’s too late to create one. You should always have a last
will
 no matter your age, net worth, or stage in life. It’s our mission to protect families and extend legacies for as many people as we can. To achieve this, you should prepare your last will.

Take care of your loved ones by planning your legacy today

What Is a Will?

A will
 specifies your wishes for distributing your property and caring for your minor children. You may not be able to have your wishes carried out if you die without a will. Additionally, your family may need to spend more time, money, and emotional energy settling your affairs after you die.

Why Should You Make a Will?

Most people believe that wills are only necessary for the wealthiest or those with complex assets. However, having a choice has many benefits:

The beneficiaries of your assets can be clearly defined. You can specify how much and who will receive what.

You can protect your assets from people you don’t want to have (estranged relatives).

Your children can be cared for by someone. The courts will decide without a will.

Accessing your assets will be a lot easier and faster for your heirs.

You can reduce your estate’s tax burden by planning. Additionally, charitable donations and gifts can reduce the estate tax.

When Should You Make a Will?

The need for a will is a topic of discussion among professionals. Here are some categories of people who need (and who do not need) one.

Do You Have a Spouse? You Need a Will

A will is imperative for married people who are so closely bound to their spouse that they must put in writing who gets their assets after their death. Regardless of whether you have a will, your spouse will likely inherit your possessions. However, it would be best if you didn’t leave that to chance. If you wish to leave any of your assets to someone other than your spouse, you must include this in your will, as it is not the default.

Are You a Parent? You Need a Will

You should make
a will
 if you have children since they may inherit your things if you die intestate, but this is not certain. Therefore, if you want your children to inherit after you, you have to do it in writing to avoid misunderstanding or errors during inheritance. If you do not want your children to inherit, document it.

What Is Your Net Worth? You Probably Need a Will

You should have a will when you have a positive net worth and are single and do not have children. Specifically, suppose you have over RM200,000 in assets. In that case, you should seriously consider establishing a living trust that kicks in immediately after the trust is signed. Having a will or a trust in place is almost always easier on your family when you have
assets to distribute when you die
. When it comes to death, clarity is critical.

What If You Are Young, Broke, Single, And Didn’t Have Children? A Will Isn’t Necessary (Yet)

Typically, your will directs the distribution of your assets, so if you do not have that many assets to distribute, you might be able to do without one. Taking my friend Mariam as an example, she is 28 years old, not married, and has a significant student
loan
 debt. Because Mariam doesn’t have dependents or
assets
, she doesn’t need a will. Getting a will is an excellent idea if you get married, have children, or acquire
assets
 (money or property).

Tags:
Digital Assets
Inheritance
Online Will Writing
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Anda Boleh Dipenjarakan Jika Ditangkap Menunggang Tanpa Insurans Motosikal

Adakah anda mempunyai motosikal dan gemar manunggangnya? Sama ada anda ke tempat kerja atau ke pasar berdekatan untuk membeli buah, menunggang motosikal merupakan cara yang mudah untuk menempuh trafik. Anda boleh mengelakkan kesesakan lalu lintas dan dapat sampai ke destinasi dengan lebih cepat. Tetapi bagaimana pula dengan
insurans motosikal
? Adakah ianya wajib? Dan apa akibatnya jika tidak memilikinya? Teruskan pembacaan untuk mengetahui kenapa
insurans motosikal
 sangat penting!

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Adakah Undang-undang Memerlukan Saya Untuk Memiliki Insurans Motosikal?

Jika anda lihat dalam Undang-undang Pengangkutan Jalan, anda akan mendapati bahawa dalam Seksyen 90 ada mengatakan bahawa, “pengguna kenderaan bermotor harus diinsurankan terhadap risiko pihak ketiga”. Dalam seksyen yang sama juga, jika anda tidak memiliki
cukai jalan
 dan insurans, anda boleh dikenakan hukuman penjara sehingga tiga bulan, Selain itu, anda perlu membayar denda sehingga RM1,000!
Polisi insurans
 yang sah diperlukan untuk memperoleh cukai jalan. Jika anda tidak mempunyai cukai jalan, denda boleh meningkat sehingga RM3,000. Tidak mahu membayar denda dan menghabiskan masa di dalam penjara mungkin menjadi sebab ramai yang mendapatkan insurans motosikal. Namun begitu, jika anda lihat kepada sesetengah statistik, anda akan mendapati bahawa keselamatan dan juga ketenangan jiwa merupakan sebab utama kenapa anda perlu mendapatkan
insurans motosikal
.

Penunggang Motosikal Mengalami Kecederaan Yang Lebih Teruk Dalam Kemalangan

Sekiranya kemalangan berlaku antara motosikal dan juga kereta, penunggang motosikal selalunya akan mengalami kecederaan yang lebih teruk. Ini kerana pemandu kereta akan dilindungi beg udara manakala, penunggang motosikal pula mungkin akan jatuh dari motosikal dan terseret di atas jalan raya. Setiap orang seharusnya bertanggungjawab semasa berada di atas jalan raya. Tetapi, bagaimana anda telah melakukan semuanya dengan patuh, tapi masih juga tercedera?

Mungkin anda mengalami kecederaan otot, kulit terbakar, atau patah tulang, atau mungkin juga kerosakan kenderaan yang ketara. Di sinilah
polisi insurans motosikal
 memainkan peranan penting. Ia bertindak untuk menawarkan pelindungan kewangan untuk sebarang kerosakan yang dialami kenderaan anda disebabkan pihak ketiga. Anda tidak perlu membayar kos kerosakan motosikal. Ini membantu anda daripada terlibat dengan masalah kewangan.

Pelindungan Daripada Kecurian

Statistik untuk kes kecurian motosikal adalah membimbangkan. Selama bertahun-tahun, kes melibatkan kecurian motosikal adalah lebih tinggi berbanding dengan kecurian kereta. Sebagai contoh, sebanyak 6,502 buah motosikal telah dicuri pada tahun 2015. Ini merupakan satu jumlah yang besar.
Polisi insurans motosikal
 akan memberikan pelindungan daripada kecurian. Jika anda telah melakukan segalanya yang termampu untuk menjaga motosikal anda dan ia tetap dicuri, anda boleh mendapatkan pelindungan kewangan.

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Sekaranglah Masa Untuk Mendapatkan Insurans Motosikal

Jika anda merupakan seorang pemilik motosikal, sekaranglah masa untuk anda mendapatkan
polisi insurans
. Mengapa anda perlu mengambil risiko untuk membayar denda jika polis menahan anda menunggang tanpa mempunyai dokumen yang sepatutnya? Insurans motosikal juga merupakan salah satu jaminan keselamatan. Anda akan berasa lebih tenang kewangan anda dilindungi sekiranya motosikal anda dicuri. Selain itu jika kemalangan yang dialami oleh anda itu adalah disebabkan oleh kecuaian pihak ketiga, anda tidak perlu membayar sebarang ganti rugi. Pastikan anda mendapatkan polisi insurans yang sesuai dengan keperluan anda dan anda boleh menunggang motosikal anda itu tanpa perlu risau tentang denda dan juga masalah kewangan!

Tags:
Insurans Motosikal
Polisi Insurans
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Workers Compensation In Insurance Explained

Taking reasonable measures to ensure that the workplace is safe is a legal obligation for employers. But, unfortunately, accidents still occur. If this happens,
workers compensation insurance
 can provide compensation.

What’s Workers Compensation Insurance

A
workers compensation
 policy is an insurance policy paid for by employers that provides wage replacement and medical benefits to employees when injured while at work. Purchasing coverage for the employee’s gift does not give the employee the right to sue the employer for tort negligence. This system is referred to as the compensation bargain because it restricts both parties’ legal recourse due to injuries.

Understanding Workers Compensation Insurance

For a work-related injury or death, the employee or dependents are entitled to
workers compensation insurance
 benefits. Employers provide this type of insurance, covering several benefits, including medical care, lost wages, and rehabilitation. As long as the worker is not under the influence of alcohol or drugs,
workers compensation
 benefits are generally awarded no-fault. However, following an on-the-job accident, employers usually require employees to submit to drug testing. In addition, when a worker dies on the job, workers compensation can reimburse some lost wages and provide survivor benefits. In the event of a covered workers compensation loss, a workers compensation policy will pay employees’ medical bills, related expenses, and lost wages. When defined injuries occur, payments are usually made per predetermined schedules. Adjusters
calculate the costs
 and make payments accordingly.

What Injuries Are Covered?

If an employee gets into an accident at work, expenses are covered by workers compensation; however, this will apply if the employee availed the insurance. Traffic accidents are the leading cause of workers compensation death claims when an employee is driving for work purposes, whether operating the company’s vehicle or driving his truck. However, workers compensation does not cover accidents to or from work. The workers compensation system also covers injuries suffered by employees due to work-related violence, terrorist attacks, and natural disasters. A worker’s compensation policy covers occupational illnesses as well. Chemical workers, for instance, may become ill from
exposure
 to toxic chemicals.

Injured Workers Receive What Kind Of Treatment?

All medically appropriate and necessary treatment is given to injured workers. However, many states have adopted measures to contain expenses in response to escalating medical costs. Among these guidelines are utilization management guidelines, which specify acceptable treatment protocols and diagnostic tests based on specific injuries.

The Employer’s Responsibilities

There are no policy limits in workers compensation plans, so the insurer pays all benefits required by workers compensation law as listed in the declarations. However, employers may be liable for payments made by insurers that exceed regular workers compensation benefits. Employers are responsible for such costs under these circumstances because:

Misconduct that is willful and serious

Hiring illegal workers with knowledge of the law

Noncompliance with health or safety regulations

Any employee discharged, coerced, or discriminated against in violation of the workers compensation law

Having committed this misconduct, an employer must reimburse the insurer for any payments that exceed regular workers compensation benefits.

Workers Compensation Insurance Quick Facts Sheet

Regardless of whether you miss time at work, your employer must pay for any medical care you receive if you are hurt at work.

In most cases, employees cannot sue their employers for work-related injuries.

Regardless of who caused your job injury, you are entitled to benefits.

Employers are forbidden from punishing or firing an employee for requesting workers compensation benefits or having a job-related injury.

Even if they are considered independent contractors, independent contractors may be covered by workers compensation as employees.

Tags:
Workers Compensation
Workers Compensation Law
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车险被取消了，该怎么办？

欢迎收看保险360, 我是 Cassandra。在投保的过程中，有很多原因造成保险被取消，但这些原因不外乎就是车主想退保或是保险公司可能因车主无法交付保险费而退保。无论是任何一种原因，今天的影片，我们就和大家一起探讨如果汽车保险被取消了，接下来会发生什么事呢！

第一、保险失效

无论是是你取消保险，还是保险公司退保、又或是你没有更新保险，你的保险将会失效。这意味着，如果你在保险失效期发生事故， 你不但不能申请索赔，还可能因需支付一笔损失费，而造成经济压力。因此，在选择退保或是无法偿还保险费时，记得预先和你的保险中介商量，以做好安排后续的计划。

第二、无法更新道路税

在马来西亚，想要在道路上行驶，就必须拥有驾照、车险和缴付道路税。而缴付和更新道路税只能在拥有车险后才能更新的。 一般上，你的车险和道路税几乎是同时过期的，所以，你只需一次性完成更新车险和道路税就可以了。有些保险中介也会提醒你并且为你处理更新的服务，所以你也无需担心！

第三、保险费会增加

如果你是因长期无法缴付保险费而被
保险公司
取消保险，又或是经常无法准时缴付保险费，而当你重新购买保险或是续保时，
保险公司
会因为你的这些记录，而提高你的保险费，甚至拒保。所以请确保你定时缴付你的
车险
费用，别到断保的时候才来后悔。

希望通过今天视频，你已经了解要更多
车险
的咨询。如果你喜欢我们的保险360系列，记得按赞与分享！记得订阅我们的频道还有开启小铃铛，这样你就不会错过新影片的通知。我们下次见！

Tags:
保险公司
车险
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Apakah Kriteria yang Mempengaruhi Kadar Insurans Kereta?

Jika anda pernah membandingkan harga
insurans
 anda dengan apa yang dibayar oleh rakan-rakan, keluarga atau rakan sekerja anda, anda mungkin akan dapat melihat beberapa perbezaan yang ketara. Kenapa agaknya? Apakah faktor yang menentukan
kadar insurans kereta
 anda? Adakah anda sedang ditipu oleh
syarikat insurans
 anda? Sebagai pemilik kenderaan dan pemegang
polisi insurans
, ini merupakan soalan yang perlu anda cari jawapannya. Nasib baik, inilah sebab kami di sini!

Hi. Selamat datang ke satu lagi episod dalam siri Insurans 360, saya Yuna duta jenama Fincrew. Dan hari ini, saya akan menghoskan video ini. Oleh itu, jangan ketinggalan untuk video-video lain yang bermanfaat seperti ini! Sebelum menonton lebih lanjut lagi, ambil masa untuk tekan butang ‘subscribe’ dan aktifkan notifikasi supaya anda akan sentiasa mendapat ‘update’ setiap kali terdapat video baru! Jika anda telah lakukannya, mari kita teruskan sekarang!

Anda mungkin sudah tahu bahawa
kadar insurans kereta
 adalah berbeza-beza. Sebenarnya tidak ada harga tertentu atau tetap untuk mana-mana
polisi insurans
. Maksudnya, apa yang anda bayar untuk insurans tersebut adalah unik dan direka khusus untuk anda berdasarkan situasi persekitaran anda. Ramai pemilik kenderaan percaya bahawa mengurangkan pelindungan dan apa yang anda bayar setelah pengurangan akan menentukan kadar insurans anda. Walaupun benar, perkara ini boleh mempengaruhi kadar insurans anda, ia bukanlah satu-satunya faktor yang menentukan kadar insurans tersebut. Sebenarnya, terdapat banyak lagi
faktor yang boleh mempengaruhi kadar insurans
 anda. Antara faktor-faktornya adalah:

Usia anda

Jantina anda

Status perkahwinan anda

Lokasi geografi anda

Sejarah pemanduan anda

Sejarah tuntutan anda

‘Mileage’ kereta anda

Saiz kenderaan anda

Usia kenderaan anda

Keselamatan kenderaan anda dari kecurian

Dan banyak lagi. Apa yang menarik, setiap faktor ini akan dinilai secara berbeza. Oleh sebab itu, sesetengah faktor tersebut akan mempengaruhi kadar insurans anda menjadi lebih tinggi berbanding dari faktor lain. Kami akan membincangkan beberapa faktor penting sekarang.

Lokasi Geografi Anda

Perkara pertama yang akan syarikat insurans tanyakan kepada anda adalah di mana anda tinggal? Ini kerana kawasan bandar dan juga lokasi yang ramai penduduk berkemungkinan tinggi untuk berlaku kemalangan dan seterusnya menyebabkan banyak kes tuntutan. Beberapa risiko lain juga boleh dilihat dan dianggarkan berdasarkan faktor lokasi sahaja.

Usia Anda

Banyak syarikat insurans yang mengandaikan semakin muda seseorang pemandu itu, maka semakin mudah untuk mereka terdedah kepada kemalangan. Ini akan mempengaruhi kadar insurans anda. Sebab itulah, orang yang lebih berusia cenderung mendapat kadar insurans yang lebih rendah daripada individu yang lebih muda.

Jantina Anda

Ya! Jantina juga memainkan peranan yang penting di sini. Terdapat beberapa kajian yang menyokong bahawa pemandu wanita memandu lebih selamat berbanding dengan pemandu lelaki.
Syarikat insurans
 bertindak berdasarkan maklumat ini. Oleh sebab itu, pemandu lelaki mungkin akan mendapati kadar insurans mereka adalah lebih tinggi berbanding dengan pemandu wanita.

Sejarah Pemanduan Anda

Ini merupakan salah satu faktor terbesar yang mempengaruhi tinggi atau rendah kadar
insurans kenderaan
 anda. Sejarah pemanduan yang baik bukan sahaja akan menjadikan kadar insurans anda menjadi lebih rendah tetapi juga membantu anda untuk mendapatkan manfaat istimewa seperti
Diskaun Tanpa Tuntutan (NCD)
.

‘Mileage’ Kenderaan Anda

Sejauh mana dan seberapa kerap anda memandu kenderaan juga memainkan peranan penting di sini. Jika anda sekadar memandu untuk pergi dan balik dari tempat kerja, anda akan dikenakan bayaran yang lebih rendah berbanding dengan pemandu yang memandu lebih jauh dan lebih kerap.

Hah! Sekarang anda dah tahu bukan? Nantikan episod akan datang dari siri Insurans 360 untuk mendapatkan lebih maklumat tentang pelbagai lagi faktor yang mungkin akan mempengaruhi kadar insurans kereta anda!

Savings up to RM300 + Road Tax Deliver To Your Door Step

Tags:
Insurans Kereta
Mileage
Polisi Insurans
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Maksud KFK (Knock For Knock) Dalam Terma Insurans

Pernahkah anda mendengar tentang perjanjian ‘
Knock for Knock
’ dalam insurans auto? Atau pernahkah sesiapa bertanya kepada anda mengenai tuntutan kerosakan sendiri atau kerosakan sendiri ‘
knock for knock
’? Jika tidak, teruskan membaca untuk mengetahui dengan lebih lanjut.

Apa Itu Perjanjian “Knock For Knock”

Perjanjian ‘knock for knock’ adalah kontrak yang ditandatangani di antara semua syarikat insurans di Malaysia untuk mengawal syarikat insurans daripada melaksanakan ‘quid pro quo’ terhadap satu sama lain. Tanpa mengira pihak mana yang bersalah. Tujuan perjanjian ini adalah, supaya setiap
syarikat insurans
 perlu bertanggungjawab bagi setiap kerosakan yang berlaku kepada kenderaan pelanggan mereka, tanpa membuat tuntutan terhadap syarikat insurans yang lain, walaupun mungkin syarikat insurans lain yang bersalah. Sebagai contoh, jika kereta saya dilanggar oleh pemandu kereta lain, katakan nama pemandu tersebut Sam.

Dalam senario seperti ini, Sam yang bersalah. Prosedur standard adalah syarikat insurans saya akan memfailkan tuntutan pihak ketiga terhadap syarikat insurans Sam atas kerosakan harta benda. Walau bagaimanapun, proses ini memenatkan dan memakan masa yang lama kerana anda perlu mengemukakan tuntutan mahkamah terhadap syarikat insurans lain di mahkamah. Selalunya, terdapat banyak tuntutan kemalangan kecil di mahkamah antara syarikat insurans, jadi ia menjadi alasan untuk perjanjian “
knock for knock
”.

Mengapa Knock For Knock Penting?

Seperti yang kita semua tahu, orang yang menyebabkan kerosakan pada kereta perlu bertanggungjawab untuk membayar pampasan, dan polisi pihak ketiga akan meneruskan bayaran balik tersebut. Tapi realitinya tidak semudah itu. Proses untuk
mengemukakan tuntutan
 pihak ketiga adalah panjang dan meletihkan serta melibatkan pihak polis dan mahkamah. Anda perlu membawa pemandu yang bersalah ke mahkamah, dan proses ini mungkin agak panjang dan mahal. KFK bukanlah sesuatu yang wajib di sisi undang-undang, dan syarikat insurans sedar tentang perkara ini. Tapi, mereka memilih untuk mengelakkan kelewatan yang tidak perlu iaitu dengan membawa tuntutan pihak ketiga ke mahkamah. Ia turut menyelamatkan kedua-dua pihak daripada rasa kecewa ketika memfailkan tuntutan mahkamah dan mendapat kertas pertuduhan daripada polis. Paling penting, KFK bertujuan untuk mempercepatkan bayaran kos membaiki kerosakan yang dialami tanpa menimbulkan sebarang kesulitan kepada pelanggan.

Apakah Pilihan Saya?

Jadi pilihan terbaik untuk anda, jika anda tidak mahu mengemukakan tuntutan pihak ketiga adalah dengan memfailkan
tuntutan Kerosakan Sendiri
 (OD). Ini adalah tuntutan yang dibuat oleh pemandu yang terlibat dalam kemalangan, di mana pemandu tersebut tidak bersalah terhadap syarikat insuransnya sendiri. Dalam tuntutan ini, pemandu tidak akan kehilangan
Diskaun Tiada Tuntutan
 dengan syarat pemandu memiliki polisi komprehensif.
Tuntutan Kerosakan Sendiri
 juga disebut sebagai ‘Own Damage Knock for Knock’ (ODKFK), adalah manfaat bagi kereta persendirian dengan polisi komprehensif.

Manfaat ini hanya dapat diguna pakai sekiranya anda mengalami kemalangan dengan kenderaan persendirian lain yang juga menggunakan polisi komprehensif. Jika tidak, anda akan kehilangan Diskaun Tiada Tuntutan. Walau bagaimanapun, ialah penting penting untuk anda tahu bahawa ODKFK tidak boleh digunakan dalam semua situasi. Sebagai contoh, ODKFK tidak akan digunakan jika pihak ketiga yang terlibat mendapat kecederaan badan tanpa mengira siapa yang bersalah, atau jika syarikat
insurans kenderaan
 pihak ketiga tidak menjalankan perniagaannya di Malaysia, iaitu lokasi syarikat insurans bukan di Malaysia. Ini bermakna syarikat insurans terbabit tidak terikat dengan perjanjian KFK. ODKFK juga tidak akan digunakan jika kenderaan pihak ketiga adalah bas, teksi, limosin atau kereta yang disewa.

Jadi, jika anda dapati diri anda berada dalam situasi seperti di atas, anda mungkin perlu menggunakan prosedur biasa untuk tuntutan Kerosakan Pihak Ketiga terhadap syarikat insurans pemandu lain atau membuat tuntutan Kerosakan Sendiri dan kehilangan
NCD
 anda sekiranya anda memiliki
polisi Komprehensif
.

Tags:
Knock for Knock
Komprehensif
No Claim Discount (NCD)
ODKFK
Own Damage Knock for Knock
Tuntutan Kerosakan Sendiri
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Pandemic Coverage In Travel Insurance

When COVID-19 hit, many
travel insurance policies
 didn’t cover cancellations and interruptions, often because they didn’t cover pandemics. Nonetheless, the
travel insurance
 industry launched an avalanche of new guidelines covering the illness when many foreign destinations began requiring them. All
travel insurance policies
 do not always cover Covid-19-related trips, so it is essential to read the policy’s fine print details before you subscribe. Like any
insurance
, it is all in the details, including its coverage for
travel insurance
. Here are some
things you should know
.

Is It Possible To Get The Insurance That Covers COVID?

Yes, but you should clarify what aspects of the pandemic are under terms like “COVID-19 Holiday Insurance”. There are obvious ones, such as medical costs overseas and repatriation if you or someone in your family becomes ill. For example, you cannot board a flight because you have to isolate yourself or leave early due to a close relative becoming severely sick with COVID. It is also possible to compare different types of
coverage from the same insurer
.

Will My Policy Cover Me If I Catch COVID?

At the start of international travel again, most, if not all, newly purchased policies cover emergency medical expenses abroad as standard. The disease then became just another illness on the insurance list – so long as it was not a pre-existing condition. The same applies if you need to cancel a trip for valid reasons, so even if you catch COVID before you travel, it will cover the costs. Some policies allow you to miss your outbound flight if you do not arrive in time for your “fit to fly” Covid test. It is better to buy a policy as soon as possible. A policy may require proof of vaccination.

Is It Possible To Cancel My Vacation Before I Leave?

Cancelling your
insurance policy
 may be possible (before travel, of course), but balancing the vacation itself is probably considered “disinclination to travel” by insurance companies. However, the policies typically recognize the need to cancel a trip due to a family bereavement. Still, there are a few other situations in which you may be able to recover the cost of tickets or deposits.

When I Test Positive Abroad, Will I Be Covered?

In Malaysia, policies vary more, but many cover the additional costs of staying in a hotel longer than planned due to a positive Covid test and the inability to travel home. It is possible to find a provision for quarantine in any section of the policy regarding emergency medical expenses, alongside valid reasons for injury or
illness
. When you book the trip or buy the policy (whichever comes first), you need to be symptom-free, and you should tell them if you have had Covid before.

Is Hotel Quarantine Covered?

Most likely not in Malaysia, unless you’re abroad. Depending on your policy, you might be covered if you must stay abroad longer than planned in a hotel and cannot go on excursions booked. Alternatively, you may not be covered if, after booking your trip, your destination implemented an incoming quarantine policy.

Tags:
COVID-19
COVID-19 coverage
Pandemic Cover
Vacation Insurance
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What Insurance Can Malaysia Business Buy?

In Malaysia, having the right
business insurance
 gives you more than just peace of mind. It is essential for the protection and management of your
business
. You face particular risks from the moment you start a
business
. Before hiring their first employee, businesses’ exposure to risk is vital to have the right insurance coverage. Small companies could close by just one lawsuit or catastrophic event before they even have a chance to launch. There are various insurance types available to businesses in Malaysia to protect them against these perils. Here is a list that every business must have in place as soon as possible.

Public Liability Insurance

You must consider proper Public Liability Insurance for your business if it is open to third-party visitors. Restaurant businesses, in particular, can benefit from this. The Public Liability
Insurance
 policy would come into effect if someone slipped and fell or contracted food poisoning in your restaurant. The policy would cover these cases for any medical expenses or damage
claims
.

Property Insurance

Property insurance must be purchased by every business, whether they own their space or lease it. If your business experiences a fire, storm, or
theft
, the insurance will cover your equipment, signage, and inventory. Standard property insurance policies don’t typically cover floods and earthquakes because they are special events. You may check with your insurer to see if a separate policy will cover these issues in your area.

Workers’ Compensation Insurance

The business should add workers’ compensation insurance to its insurance policy once they hire the first employee. If an employee is injured while in the workplace, the policy will cover medical treatment and disability. Injuries caused by slip-and-falls or medical conditions such as carpal tunnel syndrome can result in expensive claims even for employees who do seemingly low-risk tasks.

Product Liability Insurance

A product liability policy is essential if your business manufactures products for general sale. Sometimes, despite the company’s efforts to ensure its products are safe, it will still be named a defendant in a lawsuit due to damages its effect may have caused. The right kind of product liability insurance can protect a business in such a case, with coverage customized to suit the specific needs of a given product.

Vehicle Insurance

Company vehicles should be fully
insured so that businesses are not held personally liable in an accident
. The industry should at the very least ensure against third-party injury, but
comprehensive insurance
 will provide coverage in the event of a collision. Personal insurance will protect employees if they use their vehicles for business purposes. The major exception is when they’re providing a fee-based service, including delivery personnel.

Business Interruption Insurance

Businesses will likely suffer interruptions in operations when disasters or other catastrophic events occur. Because of the reduced amount of time your staff can spend at work, generating products, or making sales calls, your business will suffer income loss. In general, this type of insurance applies to companies that operate from a physical location, including retailers. During such events, a business interruption policy compensates it for its lost income.

Office All Risk Insurance

This is a type of
business insurance
, or property damage insurance small business owners or property owners can take out to cover any peril. We can’t guarantee anything in life. But, while you can’t protect yourself against every single eventuality, there are a few things you can do to prepare yourself extensively for any unfortunate situation. One of the several measures you can employ to ensure this is to take out the
Fincrew office all risk insurance
. This insurance will always kick in and protect you, as it is still in your policy or coverage.

A business can stop a significant financial loss by having the right insurance in place in case of a lawsuit or catastrophic event. FINCREW insurance can help you determine what forms of insurance are best for your business and help you put those plans in place as soon as possible. Get in touch with us now.

Tags:
All Risk Insurance
Business Interruption Insurance
Product Liability Insurance
Property Insurance
Public Liability Insurance
Vehicle Insurance
Workers' Compensation Insurance
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