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Last year, Malaysia Automobile Association (MAA) reported a record number of cars sold. Are you one of them? If you're not in that statistic yet and planning to own a new car now, please read this post which could scare you away. In fact, petrol prices are heading up again since 2008 with prices of RON97 reviewing monthly. Without failed, the price of RON97 is going up consecutively for the past few months. Anyway, are you driving fuel-efficiency car like me? Despite that I am pumping RON95 petrol and driving the so called "fuel-efficiency" car, I still feel the pain of pumping money. Source: Malaysia Automobile Association What to do? If you don't eat, your car still have to " drink " ma. Uncertainties in Middle East is already spiking up oil prices globally. You think this is the worst for motorists like us? By "pouring oil on fire" (to make things even worse), government plans to gradually increase motor insurance premiums from 2012 onwards unde...

In Part 1, we have discussed the importance of nomination in insurance. But, what happens if it is someone else, like an uncle, niece or even a friend was named as nominee(s)? www.financemalaysia.blogspot.com   When a nominee is not automatically a beneficiary Under a non-Muslim's policy, the nominee in such a case is not entitled to the policy monies as a beneficiary. He or she only receives them as an executor , and must pass it on to the deceased's estate to be distributed according to the will . If there is a will, but the nominee in this case is not named as a beneficiary under the will, he or she will not get a single sen. If there is no will, then the property will be distributed according to the existing laws of distribution. What if I named my siblings (brother or sister) as a nominee? Well, it will form as a trust policy , and your siblings will act as an executor instead. So, please take note. Anyway, you can change your nomination, but must sought the consent from ...

Recently, theStar highlighting a serious issue pertaining to insurance claims - Fraud Claims . It even started with staggering paragraph "Fingers have been chopped off, medical ailments exaggerated and even death faked - all for the purpose of fraudulent insurance claims". Among the issues: RM500 mil in bogus insurance claims are detected each year At least 2 insurance firms have folded as a result of high compensation claims compounded by fraud Insurance firms fight back by setting up special fraud detection units Regarding to this topic, Finance Malaysia would like to shares some views here pertaining to the effects on Malaysians as a whole. And, most importantly, the impact of insurer would definitely pass it to people insured. Why I said so? First, you must understand how insurance companies compute their premiums charged to each clients. If the insurer is financially stronger, it may charged a lower premium for the same amount of coverage on its policies. In other wor...