Why Taking An Insurance Plan Is Important?
It is undeniable that sometimes so many people tend to overlook this issue of how taking insurance plans could be important and beneficial. If you are here, then I’ll just assume that you are actually considering the importance of it. With that, you might probably ‘looking for insurance coverage for death Malaysia’.
We do know that there are so many great insurance providers that we could find in Malaysia as indeed we are a country that is kind of aware of the importance. With this, we have the best insurance provider that could be listed as the best which is from AmMetLife.
Who is AmMetLife?
AmMetLife is the brand name of AmMetLife Insurance Berhad, a Malaysian life insurance firm, and AmMetLife Takaful Berhad, a family takaful operator. Through AmBank’s branch offices, they provide a variety of insurance and wealth protection solutions.
Insurance plans that they offered for their clients
Being the best and convenient insurance provider in Malaysia, AmMetLife offers you several choices in insurance plans which definitely would be the best for everyone. Which includes:
- The Family Plan.
- The Health Plan.
- The Future Plan.
- The Group Life Insurance.
The benefits of The Group Term Life Insurance Scheme (GTL)
The Group Term Life Insurance Scheme or (GTL) is a plan from AmMetLife that has several benefits that will get covered which consist of death, total and permanent disability (TPD), critical illness (CI) and also the other benefits.
For the death, the payment will be payable in one lump sum for both death event and total permanent disability (TPD) that are caused by any natural or accidental causes. For the critical illness (CI), this plan would help you get coverage for 36 types of critical illnesses.
There are also several other benefits that you could get which are:
- Repatriation Benefits
- Terminal Illness
- Funeral Expenses
- Accidental Death & Disablement
- Permanent Partial Disability (PPD)
The coverage types are:
- Class / Rank
- Fixed / Flat Sum Assured
- Monthly Basic Salary
The benefits of taking insurance for death benefits
When the insured or annuitant dies, the death benefit of a life insurance policy, annuity, or pension is paid to the beneficiary. Death payments from life insurance plans are not subject to income tax, and specified recipients often receive the death benefit as a lump-sum payment.
Reasons why it is important to have death insurance
We acknowledge that there will be a lot of benefits and advantages that can be gained from life insurance, hence why it is recommended. They are:
- To settle off debts
When someone dies without paying off their outstanding obligations, the money due may financially burden their estate, family, and heirs.
- For inheritance purpose
The death benefits might be divided equally among surviving children, or a part could be donated to a charity or charitable organisation.
- To prepare for the unexpected
Death, though, is one of life’s certainties. Life insurance is one instrument for having a financial plan in place in the event of death.