She was 24.
A few days ago, I reviewed the insurance policies of a 24-year-old woman.
After going through the full policy, I smiled and told her:
“Congratulations. You’ve prepared really well.”
She had:
- RM500,000 in life coverage
- RM250,000 in critical illness coverage
- RM3,000,000 in medical card coverage
- RM300,000 in personal accident coverage
- A regular monthly savings plan for her future
That day, I did not sell her any insurance. Based on her current situation, she had already built a relatively comprehensive safety net.
A few days later, another 24-year-old woman sat in front of me.
She also had insurance. But when we opened her policy, it included only:
- RM30,000 in life coverage
- RM10,000 in illness coverage
- A medical card
- Premium waiver coverage
They were both 24. They were both working hard and building their lives. Yet their safety nets were completely different.
That is why I continue to do Policy Reviews.
Not because every review should lead to a sale, but because everyone deserves to understand:
What protection do I actually have today?
If it is enough, I will tell you:
Keep it up.
If it is not enough, at least you will know what to work towards in the future.
Insurance is not about comparing who bought the cheapest plan.
It is about gradually building a safety net that reflects your budget, income, family responsibilities and stage of life.
Many financial planning guidelines use around 10% to 15% of income as a reference point for protection budgeting, but the appropriate level should always be assessed based on individual circumstances.
Because what truly matters is not how much insurance you bought.
It is whether you are prepared when life takes an unexpected turn.
If you would like to understand whether your current protection is enough, you are welcome to arrange a Policy Review.
Disclaimer
This article is for educational purposes only and does not constitute financial or insurance advice. Coverage terms are subject to the policy contract. Contact Faith for personalised advice.