SYNOPSIS

Engineers should be aware that E-retirement solution is currently a global issue in E-knowledge era. Despite advanced technology and internet booming with easy access to knowledges, still not many Malaysians has proper E-retirement planning. This is supported by the following facts that a) Every 2 out of 3 members of EPF (@ age 54) has < RM50,000 in EPF account, b) Average EPF account balance per member is about RM167,000. The “2nd EPF “E-solution can be part of the consideration as technology advances.

In this talk, E-Legacy Planning should take into consideration since there are lots of uncertainties and natural disasters. The assets will be frozen upon death, it takes years to go through the stage of application of Probate, Extract of Probate, collection of Assets, clearance on tax and debts, prior to the distribution of asset to the appointed beneficiaries. Hence, we shall consider the advantage of FSA schedule 10 (Trust of Policy Money), the E-insurance proceeds can be a creditor proof solution. These advanced technology and E-planning services will be paid to the nominee or beneficiaries within a short period.


BIODATA OF SPEAKER

Lim Cheng Guan is currently Head of Banwide Bancassurance of United Overseas Bank (Malaysia) Bhd. He has nearly 15 years working experience in Bancassurance industry since he graduated in Bachelor of Science degree in the year 2000 from University Malaya. He went on to do his Master of Science (Statistics) in 2003. He owned an actuarial profession since 2012 and followed a profession in CFA in year 2013.

During his years working experience in Banking and Insurance Industry, he has gained vast experience in Insurance actuarial valuation, Pricing, reinsurance and Product pricing and development. During his recent role as Head of Bancassurance of few banks, he has been actively involved in Bancassurance Product Marketing where he will occasionally share the benefits and how importance as Wealth Creation, Wealth Accumulation, Wealth Preservation and Wealth Distribution for an individual / families.