Rising cost of living

The Star today featured an analysis of the cost of living of the middle-income in Malaysia, with a table showing the monthly budget balance/deficit of various categories of people ranging from fresh graduate to professionals. Many of the individuals featured are just getting by, so it's not surprising that so few of them have extra money for life insurance.

Nevertheless, having insurance coverage is really crucial, and realizing this, my younger sister who recently gave birth to her third child, is sourcing for life insurance quotes for a policy for her baby.

Judging by the report in The Star, the middle income group is really facing a tough time coping with the rising cost of living, and the situation will only worsen if the government reduces subsidies to the rakyat. At this rate, it may even be necessary to set aside some money for funeral insurance, since funerals cost a bomb these and may be a burden to one's descendants.