Often in life, especially when we’re focusing on our work-life in search of the perfect path for our career, we tend to miss out on the simplest thing. What I mean by simple things is the things that are actually important yet doesn’t seem to be a significant part of our life, such as insurance. Yes, insurance. And yes, I get it. Insurance sounds way too complicated to be dealt with while we are still young. After all, we haven’t even hit our 30s yet, so why should we even be thinking about insurance? Isn’t insurance something we should start worrying about when we are old enough? Well, not really. Although many people have gone through their young adults’ phase without having any insurance, there are some cases in which insurance may be surprisingly useful even before you’ve hit your 30s. Here is a list of them.

You focus too much on working.

At the age of between 22 to 30, where earning money seems to be everything in life, we tend to overwork to cover our monthly expenses such as food, rent, housing loan, car loan, student debt and constantly want to improve our lifestyle. We then decide to take on jobs, multiple jobs. From working a daily 9-5 job, to freelancing, to becoming a GrabFood or FoodPanda rider or even selling stuff online, just so we can earn some extra cash. However, we often never consider the possibility of things going wrong. For example, when we get into an accident or fall seriously ill. Worse of all, we never think about having no emergency funds to cover all our expenses and loans for when we aren’t able to work.

Insurance, in this case, may then act as an emergency fund in case anything happens. Let’s take a look at Merchantrade Insure Basic, a personal accident insurance that gives you cash allowance in case you get into a serious accident. Merchantrade Insure Basic will benefit you by giving you a hospital allowance of RM50 per day, in addition to a temporary disablement allowance due to the accident (for example, if you are unable to move temporarily and need time to recover from your broken limbs) of RM100 up to the maximum combined limit of RM1,000 per accident. In the event that the accident causes death, there will be a payout of RM10,000. What’s more? It only costs RM5 per month, that’s even cheaper than your average delivery fees! And suppose you are willing to pay a little extra of RM10 per month, Merchantrade Insure Xtra will be a better choice as it covers personal accidents and any illnesses such as dengue, influenza, severe food poisoning or even chronic sickness, to name a few. This way, you will have enough cash to cover the daily loss of income, additional daily expenses or out-of-pocket medical expenses when you are hospitalised.

You have extreme hobbies.

We all love our youth because it is a phase in our life where we try to find the meaning of life by exploring and engaging in new and fun hobbies. But did you know that some of these ‘fun’ hobbies are also very risky? We all know that hobbies such as road cycling, rock climbing, scuba diving, Mount Everest challenge or any equally thrilling activities do hold some risks. Risks that we often subconsciously choose to ignore by convincing ourselves that such calamity wouldn’t fall upon us. Psst, but did you know that insurance companies have existed for more than 200 years just so that you can focus on the important things in life without having to worry about the potential risk?

Here’s where Merchantrade Insure Life plays a vital role to us, young adults. A simple and no-frills micro-insurance policy under Perlindungan Tenang, an initiative launched by Bank Negara Malaysia in 2017. By paying RM2 per month, we get RM8,000 worth of coverage if any fatal accidents were to happen to us. What about if I only engage with my hobbies, let’s say once a year? Wouldn’t it be a waste if I buy life insurance for a whole year when I am in a safe zone most of the time? If that’s your concern, then worry not. Merchantrade Insure Life has a flexible monthly plan that allows you to get protected only during the month you decide to engage with such extreme sports.

You are starting your own family.

This may seem a bit far-fetched now, but we all know that sooner or later in our life, we will eventually have plans to get married, have a baby, and ultimately support our ageing parents financially. This means that subsequently, in life, we will need to be financially secured and would have to review and adjust our risk appetite during different life cycles. And I am sure at this point in life when we still have our youthful energy before hitting 30, you and your partner are working hard to provide better food on the table in addition to paying off all the debt and loans we’ve discussed earlier on, all while also ensuring that there will be some cash left for savings.

It would be such an unfortunate event if something were to happen to you or your partner. Everything that seems right at that point will turn into a mess. Not only will your family members or partner lose their pillar of support, but they might need to utilise all their savings to settle any possible debts.  There’s a saying that goes: Life Insurance is a gift of love. For Valentine’s Day, birthdays or marriage anniversaries, do something extraordinary for your partner, spouse, or family by showing how far you would go for love instead of choosing the simple route of plucking flowers from the earth. Be unexpectable in your gestures of love.

Merchantrade Insure Basic, Xtra, & Life

Did I mention how cheap and affordable these insurance policies are? But being cheap and affordable is not the only good thing about Merchantrade Insurance policies. They are also easy to buy, with no extra processes such as medical check-up! The price is also the same regardless of your age. Now, this sounds too good to be true. Is it really safe? Why would they offer such plans to us? Is it a scam? Don’t worry. It’s perfectly normal to doubt an insurance plan that is this affordable, especially when they’re offering great benefits. This is why it’s crucial for you to know that Merchantrade Insurance plans are underwritten by AXA General Berhad, the largest insurer in the world and MCIS Insurance Berhad.  Merchantrade Insurance plans also allow you to cancel anytime you want within the 14 days free look period. Hence, you don’t have to worry about buying these insurance as they are perfectly safe and secure. If you are interested to know more or even purchase it online, do check out their website https://mtradeasia.com/insure/. You can even pay with any e-wallet.