How the Rich Exploit the Poor, via INSURANCE When there are MONEY & POWER are at stake, there are always conspiracy. With these 2 elements together, it can will human to commit into corrupt act. Spending half a billion dollar to be elected as the Prime Minister for a job that pays only RM300,000 annual salary. Well, thats not healthy for a country! So what! What can you and i do about it? People are lack of Financial education. Our school and education system does not teach us what is the knowledge to MANAGE money instead of teaching us academic information (courses in university) which is the skill ONLY to work and favor the Rich. With the money we make, and then? Whats next.....???? There arent any course to teach us WHAT TO DO with the money we make! And then, we were taught to save money, get out of debt, secure our pay cheque, get a home, diversify our investment portfolio in mutual funds, stock markets, imvest in a long term retirement plan, insurance + savings plans....etc. In other word, we are taught to turn our money to the rich..!!! Who supposedly has their best interest at heart. Everytime the educator brings in the banker and the financial planner into the classroom, supposingly in the name of Financial Education, however they are actually ALLOWING THE FOX TO ENTER INTO THE HEN HOUSE. Im not saying bankers, insurance agents, fund managers or financial planners are bad people, all i can say is that they are the just the AGENT of the Rich and Powerful, like every one out there making for a living. Their job is NOT to educate but to recruit future customers. That is why they tell you to save money and investing into their product. I will use INSURANCE as example which is one of the most powerful Tool that will keep you forever poor, and the rich to be richer. 1. INSURANCE @ aka Saving Plans + Investment Link *P /s: how could a INSURANCE comes with SAVINGS that alsocomes altogether with INVESTMENT....? Isint it contradicting? INSURANCE is suppose to secure your life and health, SAVINGS is suppose to be storing your money, while INVESTMENT must have returns that it definitely doesnt comes along with Insurance + Savings. *P/s: Insurance Saving plan in other words is one of the LARGEST PONZI Scheme in world en.m.wikipedia.org/wiki/Ponzi_scheme dslreports/forum/r28958057-Is-life-insurance-a-ponzi-scheme- *By right Insurance is only to cover Life or death. However mortality rate is so low today, with Actuarial expertise precisely calculated risk for the company, so the premium must be definitely low, and this is what most of the Insurance agent does NOT wana sell you. When the premium is at lowest, without Investment Link, their commision is very very low. *so what they do is, they reduced the premium for Mortality Coverage, increase the yearly premium and then rename it into a Saving Plans that serves you interest rates better than the Banks FD, at the same time giving you protection on Medical claims and health. *comes to think of it, when you are commited into a Saving Plans you are creating a LIABILITY and COMMITMENT for yourself monthly which is actually NOT Performing at all on (profit margin %) Return on Capital, if you compared it to any other investment out there. You cannot borrow banks money to buy insurance in Malaysia..... BUT.... Not in oversea and heres the MAGIC...!! *i personally do NOT buy insurance anymore in Malaysia, but i buys insurance in Oversea which is covered Internationally and the currency is in US Dollar. Buying insurance in Malaysia is the stupidest decision where our premium here in Malaysia is so EXPENSIVE which is used to pay the Financial Planner = Insurance Agent their high commisions and that is why you see many insurance agents driving luxury cars looking lavish in lifestyle.. THANKS TO YOU!! The Contributor... Lol...... *Insurance in International Capital Market, the premium i so low because they are Financially strong country with loads and loads of money flowing in and out. For eg: Singaporeans has high income, high disposable income, high saving rate, low household debts, low gearing rate, so when the average people in the country make alot more money and doesnt really commit in to debts to BUY House or Buy cars, which means they dont have commitments and liabilities, so they all put their money into the banks or in the stock market to trade. So all the banks are storing so much money, therefore the banks are not able to offer a high FD rates in return. So the Policy makers must reduce their lending interest rates. And todayThey can even finance Insurance Premiums *i am only paying approximately 1/3 of whatever you are pay for your Insurance premium in Malaysia. But with the same amount of coverage. *what if i tell you that the premium can be actually finance by the banks that your dont actually pay anything to be immediately covered by insurance? And thats not in Malaysia im sorry........ *in International Market, like USA, Singapore and Hongkong, one doesnt have to pay premium to be right away protected with a $1million life coverage. A Premium can be financed by the Banks and at only Interest Payment Options only @ 1.5%pa. And also the partially 1/3 of the premium can be swaped and backed by Blue Chips as collateral so that bank finance the remaining 2/3. This is very complicated, not for rookie... Shall there be anything that happens to your life, This is how the Intelligent Western players created IMMEDIATE WEALTH WITH A STROKE OF A PEN. ASIANS - Save 80% :: Spend 20% WESTERNS - SPEND 80% :: SAVE 20% Touchwood IF you mati? Your stroke of a Pen do the rest of the job, and your next of Kin will immediately inherit the coverage you bought for them.. And thats JEWISH STYLE.. The Asians live the whole life savings for their children to BURN their money after they gone. The Westerns live their life spending all their profit made and left debts for their children to manage. And the stories never ends............................ Anyway, the reason why people fail during Economy crisis is because most of the poeple do not even know how to distinguish between GOOD Financial advise from the BAD Financial advise. to be continue................. JL™
Posted on: Tue, 30 Sep 2014 19:57:23 +0000
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