Yes, I'd agree to that mfitri77 as most agents out there are looking into getting a quick sale by promising sky and heaven. With the industry changing to a more streamlined one, I think would change in the long run. Marketing should be done with ethics.

pm-ed you.

yeah, experience bring more knowledge.
I still need to study more and gain more experience.
learn alot from all your replies.

But it is scarely to know one bearing a tag representinga legal insurer but yet knowing so little about the products which you should know 100% before advising ppl. The technique to explain certain products to your customer isn't just an art, one ought to cover 99%, if not 100%, of what that product is all about... It is nothing wrong to join the discussion here and learn from everyone here, but bearing a 'tag' representing a legal entity outside one should be more vigilent. i.e ILP is a complicated product, explaining how ILP works could possibly take up an hour verbally from a responsible agent, few lines of postings here just doesn't cut it.

peace.

Ideally, investments and life insurance coverage should be kept separate. If returns are your sole purpose in buying life insurance, you need to evaluate whole life policies in depth. Whole life policies build up cash values with varying degrees of control over how much of your money is invested and where. Most experts however opine that returns will be better if you opt for investments on your own because a chunk of your premium money goes towards commissions, fees and maintenance charges in whole life. If you are buying life insurance for coverage as well as returns, I recommend buying term life insurance, and separately investing the money you save on premiums, on safe tax-deferred financial instruments, to get the best returns.

Denise at AccuQuote
Disclaimer: I work for AccuQuote and this is my personal opinion.

Dear All,

Please take note of this medical/investment policy by aia:

AIA medical Account (AMA)

- this policy is 4-in-1 medical plan that covers you till age 100:
1. life protection till 100
2. medical benefits till age 100
3. investment
4. level premium

RM200/month or RM6.70/day

kindly PM me if interested. looking forward to serve you better.

More information needed.

-medical- ECP/MCP 150 annual coverage till RM90k...lifetime no limit
-premium is always the same...never goes up....
-investment interest rate is 6.5% to 9%

if u wanna know more we set an appointment

Quick query: Do insurance companies in Malaysia still offer pure insurance (medical, not life) coverage? Everything I've seen so far is investment-linked, which I'm very meh about.
Note: coverage is for someone with a pre-existing (but not life-threatening) medical condition

I'll say there're still standalone products like standalone medical card in the market. I know Great Eastern & ING has it it. Not too sure of the other players in the market.

With regards to pre-existing illness, there might be some exclusions imposed but that's really subject to the underwriting by the insurer.

Ive been researching AIA and Prudential the past 6 months. Each has its pro's and con's but i noticed there are many limitations in AIA. On paper it looks good but when u see the details and the limitations and compare that against the premiums, it doesnt look that attractive anymore.

For instance, when u say premium always the same and never goes up, you fail to mention that AIA always starts the premium on a higher level right from the start. For instance, the premium for Exelcare Medicover Plus for the age group of 16-35 at ECP 350 is RM878.50 per annum. Prudential costs about RM 270 for a similar package.

Overall it will balance out. AIA charges higher premiums from the start and gives u assurance it wont go up as long as u stay within the same age group. Prudential premiums might go up according to inflation levels but they start small.

This is what i mean by you have to look at the finer details rather than the big figures on paper which always looks nice. By the way, im not involved in any insurance sales business. Just a normal consumer just like many of you.

Cheers!

-premium is always the same...never goes up....This is an investment linked policy, and how are you going to guarantee that the premium will not go up. If you can show some proof that says it will not go up in the future, I will suggest that all forummers buy from you.
-investment interest rate is 6.5% to 9%...Guaranteed?

You are right. No insurance company in Malaysia guarantees that premiums will NOT go up. The so called 'guarantee' from AIA means that there will not be any increase in premiums as long as you STAY WITHIN THE AGE GROUP. Once you move into the next age group, your premium jumps. For Prudential, the premiums depend on the ENTRY AGE. But due to inflation, the yearly premiums WILL go up.

This is the difference between the 2 main insurances. But in lay man's terms both are saying premiums WILL INCREASE.

As for the returns, the percentage provided is always STATISTISCAL AVERAGE and NOT GUARANTEED. But as with most insurances, you must think long term. So some years you can even have dividends declared as high as 42% (as in 2009 for Prudential) but can also go as low as -32% (in 2007). So overall it will even out to be about 6-9% over a 30 yr period. This display percentage is a requirement by Bank Negara.

cybermaster98: Good thing you do your homework before getting a policy. As a consumer you are entitled to do so. Prices of premiums vary depending on age group. of course there's less risk when you are aged 16-35. when you are much younger we're prone to diseases because our immune system is still developing etc. From my knowledge our annual limit maybe same as other companies but do the other insurance companies have lifetime limit? We don't have lifetime limit. There maybe annual limit but we have NO LIFETIME LIMIT. you say prudential premiums may increase due to inflation. well ours don't. just according to age group (which is also predetermined) and risks involved which in my opinion makes a lot more sense. I hope that clears your curiosity


chew_ronnie: we take risks in investment. as an agent of an insurance company, LIFE and SECURITY is important. returns will come in. just that 6.5% is the lowest that will occur in the event of withdrawal (guaranteed). usually i encourage my clients to invest half in Dana Dinamik(islamic) and half in Dana Bon as it is more secured and stable. Premium doesn't go up even if medical is involved because the cash value will eventually be used to cover the medical policy as well thats why. anything else u wanna ask?

you say prudential premiums may increase due to inflation. well ours don't. just according to age group (which is also predetermined) and risks involved which in my opinion makes a lot more sense. Pls get your facts right before saying this statement. In any insurance where riders are concerned, the premiums are written BIG and BOLD in BLACK and WHITE - cost of insurance are NOT Guaranteed. If this would to happen, even if you still have units in the Investment Linked Policies, the policy holder will still need to top up.

just that 6.5% is the lowest that will occur in the event of withdrawal (guaranteed). Again pls get your facts right. 6.5% lowest? Anyone can guarantees 6.5% returns in unit trusts? Got to be kidding man. Again, if your so called guaranteed policy has this feature, then I'll suggest forummers to buy from you.

I don't mean to be harsh here, but I myself is a agent in another company and all ILP has the same basic mechanism (unit reduction) where:
1. Cost of insurance is not guaranteed
2. Investment returns are not guaranteed

Do you homework 1st before posting as u may get shot upside down by other senior members. My 2 cents.

Yes i have researched this lifetime limit issue as well. Yes its true that AIA does NOT have a life time limit compared to Prudential. But AIA has stipulated limits for CANCER and KIDNEY DIALISIS treatments and these limits are quite low. Cancer limits are set at RM322K per lifetime while Kidney dialisis is set at RM200K per lifetime (this is assuming you take the highest coverage bracket) We all know that these 2 treatments are usually the most expensive treatments in the medical world. Average cancer treatment for a Stage 3 patient at SJMC for instance can come up to RM 30K a month. So if you have a limit of RM322K for cancer, you will only get reimbursed for 10 months of treatment. This is a major drawback.

Prudential stipulates lifetime limits but all treatments for the specified diseases are AS CHARGED. their max lifetime limit is RM 1.5 mil for the highest coverage bracket. So if you get cancer and you need treatment you have about 50 months of treatment before your coverage lapses.

This is a major difference between AIA and Prudential.

Yes this is exactly true. With as charged (PRU and GE has co-insurance attached to it) for cancer and kidney dialysis treatment is the most important thing as these are the 2 illnesses that will eat a big chunk of the allocated limit.

Yes but the co-insurance is covered by PruMed at a minimal cost.

Yes, using the hospital income plan you're plan you're able to offset or minimise the impact of the co-insurance. Most insurers (ING, GE, Pru etc) would have this option available at a cost and again being a rider this also reduces your investment value. If you're fine with the it then it's the way to go.