Category: Consumer

Relates to numerous developments within the industry that may have some impact on consumerism. You need to read but need not have to understand fully… meaning read between the lines and then write us a two, three liners.

Saving on Service Tax | Your Insurance Policy

service tax 2011

Just received news concerning the new service tax application – mainly to do with the timing and cut-off date relevant to the transition process, from the existing rate of 5% to 6%. On December 2nd, 2010 the Ministry of Finance…

Frustration when buying motor insurance?

Over the past months, I had quite a number of people calling (including emailing) me for information as to how and where to buy insurance for their motor insurance online. Many were complaining of the very expensive premiums that they…

Pay up the 1% extra service tax on your insurance premium….

[ad name=”Google Adsense”] Come 1st January 2011 if you own a business you would be required to pay an extra 1% of the premium as service tax. This means an additional RM40 million in service taxes to the government coffer.…

Third Party Bodily Injury NewCo | Miscarriaged without clarity?

travelling together but MINDs apart!

  The original idea to have the third party bodily injury and death (TPBID) section taken off the current motor insurance policy coverage and place them under the New Company (NewCo) is now no longer a good one. This idea…

Top 5 things you should know |Introducing New General Insurance and Takaful Products

It took me quite awhile to finalise a review of Central Bank (BNM)’s BNM/RH/GL 010-14 “Guidelines on Introduction of New Products for Insurance Companies and Takaful Operators”. Procrastinating, perhaps! Anyway, I must say it, “Guidelines were badly written….” and the…

Service Tax on Insurance for Management Corporation

A number of readers wrote in ranting over the issues of service tax applicable on insurance premium for policies issued in the name of Management Corporation (MC) and Joint Management Body (JMB). Some were complaining over inconsistencies adopted by the…

The advantage of Death & Pension annuities

Malaysian normally do not think much about annuities, not to mention buying one for their golden years. There are better investment options than investing in an annuity just for the sake of living too long! Some seemingly dull topic here….…

Passenger liability: Your kids are not covered…….

What is passenger liability cover in your private vehicle insurance policy? It simply means coverage for you in the event your passenger(s) sue you or your authorised driver for having driven the car negligently, resulting in bodily injury, death or…

Insurance Sales – there are only 3 reasons why people buy

In reality, there are just about three reasons why people choose to buy from you…. 1. to make money, 2. to save money, or 3. to reduce pain and frustration. Your job as an agent or marketeer is to figure…

Motor Insurance…. can make profits with so many unnecessary accidents?

Today and Yesterday… learned (or rather forced to) some hard facts, this BLOGGING thingy cannot be as easy as ABCs. First you have to know what to write, then you need to check if you have got the facts and…