WaiYeap,

This is no offence, but to see your explaination on ILP from the point of view of an Insurance Advisor from AIA is totally dissapointing me. You don't understand the basic working principles of ILP. All riders comes with a cost and this will in turn being deducted from the units being invested. There is no one ILP illustration under the Code of Good Practice (COGP) that shows the investement return is only going upwards. Even in the real market scenario the funds wont sky rocket!!! Pls check your stuffs out before even thinking of writting in here as this will only confuse future ILP and insurance shoppers.

Buy insurance for protection........!!! Invest in unit trust or others!!!

From Fellow Insurance Advisor from another company (and hope you are not offended)!

-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 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 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 I do agree in some way that hospital cash benefits can offset the co-insurance, but again the policy holder must pay 1st then the insurer will only reimburse back say after 2 weeks time. This is ok IF considered the amount is small. If the amount is big, and if the policy holder may not have that much of cash? Remember that hospital cash benefits are only applicable for in-patient. Out-patient is not covered.

Here are 2 scenarios, say if a person is holding a GE SmartMedic where co-insurance 10% for out-patient kidney dialysis and out-patient cancer treatment.
Cost of chemotherapy: RM10000 / session meaning the policy holder has to pay RM1000. And since this is an out-patient treatment, a hospital cash benefit will not reimbruse anything because it's not an in-patient. So every chemo session, the policy holder will have to pay RM1000.

If this person holds a PRU's PRUHealth where co-insurance 10% up to a max of RM2000 for out-patient kidney and out-patient cancer treatment. Same scenario up there will happen.

Say if this person gets a Allianz PowerLink's Medicover where NO co-insurance for out-patient kidney and out-patient cancer treatment. So virtually the policy holder can just come and go after the session.

Which will you guys choose?

This is just a comparison i've gathered around and it is not serve as an arguement basis. Thanks.

This post has been edited by chew_ronnie: Jun 2 2010, 12:35 PM

Yes, CI claims are entitled when it is in the very severe stage. Both kidneys have to fail before a CI claim can be obtained, same goes to Cancer as it has to be manifested out of control only a CI claim can be obtained?

My question is, if this person has A SINGLE kidney failure and the other one is not working in its optimum condition, kidney dialysis is required but a CI claim is still not entitled.

If cancer as it's beginning stage, its either operation to remove the lump or chemo or radiotherapy. Still not qualified for CI claims.

Macam mana?

I'm saying these by putting my myself in a policy holders shoes NOT from the aspect of an insurance agent.

This post has been edited by chew_ronnie: Jun 2 2010, 06:06 PM

Bro,

Thanks for the testimonial although the sale did not went thru. Your concerns are noted and if there are any good plans launching will definitely give you a ring.

Thanks again.

Yes, indeed you have a very good encounter with University Hospital and glad that you are a happy man now. Bravo to our govt or semigovt hospitals and this time it really helps the nation.

Hopefully in the near future, the insurance companies will change to take care more on the policy holders welfare.

Note: Although I'm an insurance agent representing some company, I'm not the insurer as I can't tell what kind of plans will be introduced in the near future. I'm not protective towards the insurance industry nor being a critics to them.