Basically from all the projected cash value ain't guarantee, its like locking in my money until it matures 15 years later. I give you one of them

Coverage:- 20k (death and tpd)
Premium :- 2k for 20 years.
Returns:- 1.2k every 2 years for 20 years n there is a side cash value set aside that depends on the company performance

It's like I'm paying the premium n getting my own money back every 2 years but yeah, if something happens to me, 20k + cash value.

The other 2 is roughly the same ... For me, one of them should be enough but dad insist I continue to get back the gain in the long run. Yup, I have a plan that combines life, medical card n CI.

So how long are those policies already? Maybe you can compare the policy value and the projected value in the quotation and see is it worthy?

10% for insurance and 20% for retirement planning whether it is endowment, FD or investment.
So, i would catogorized this into the 20% portion.

The projected cash values are not guaranteed, true, but it pays to know how far off are the projections vs the actual. If the projections are on par with the actual and your dad is okay with it, then by all means continue with the plan.

You can get in touch with the agent to look at the cash value, or look at the annual statement.

If the projected cash values are way off, then ... well you may have a more convincing case to put that money else where if you're only looking from the 'investment returns' portion.

Personally if you want to look into the investment portion for insurance, do a top up saver when the funds are low. At the moment with KLCI on its peak, its time for profit locking/taking... not investing.

This post has been edited by roystevenung: Jul 24 2012, 08:52 AM

Thanks for the advice, I'll look into the current statement to do the comparison before I make any further decision. I'm currently in my 5th year servicing the policy, 15 more years to go

hi , am looking for plan for 33 male ,

- need medical card , CI , PA and TPD coverage...
budget 250

when the plan they said 100k for CI , 100k for TPD , 100k for PA... does it means one can only claim either 1?
- the agent told me if kena 36 illness can claim 100k , then if die after that can claim another 100k...Sorry for the noob Q...

The odd to insurance payout is always lower than premiums paid because premiums include agents commission, insurance company overhead and profit, tax, etc, it is always cheaper to self insured.

If buying insurance is a necessity than should also buy lottery tickets.

This post has been edited by icemanfx: Jul 31 2012, 11:49 PM

First, pardon me for my noob question.

For agent here, do you buy yourself an insurance for yourself from yourself?
I wonder how the procedure if the agent itself admit to hospital and in the deeps**t and need to claim for insurance first?

I always heard that if we're in trouble, contact your agent first.

I had an insurance, buying it long long time ago, and now don't know its whereabout. Now thinking of reviewing it.

Ordinary agents will mention what you said above, the real reason is that agent cant potong jalan for up to 6 yrs. Even if they potong jalan they cant enjoy the commission from the purchaser.

if hospitalisation, u dont have to look for agent as it oledi come into a card system. when u use credit card or debit card, do u need to inform first that u will use?

It's better u to check ur existing insurance.

We get the commission rebates back to our income, hence it's like buying at discounted rate. The claims are generally using the card except for the pre-hospitalization & post hospitalization (before admission & after discharge for the followup treatments).

Pre & Post is based on reimbursement basis, so it is necessary to keep all the receipts/doctor reports for the claim process. If we as agents are bed-ridden with serious conditions there are bound to be colleagues/leaders that can help us with the claim process.

There is no such thing such as 'claim for insurance first'. The event of hospitalization or outpatient treatment must occur before the claim can be honored.

Most of the time if in doubt whether it is possible to claim, do call the agent 1st. For example, anything related to pregnancy, tooth (whether it involves surgery or not - unless it is necessary to be performed and caused by an accident) is not claimable. A list of exclusions are normally attached to the product brochure.

There are many types of insurance, some only cover life & Critical illness and doesn't include any medical.

The policy document is needed in the event of major claims, otherwise the claim process will be delayed waiting for the replacement of the policy document.

Yes, do review the policy once every 5 years for medical inflation.

Hi all, I'm 22 years old and taking GE SmartProtect Essential Insurance 2 monthly RM200..

Covered within the package

Life 100k
Accident 30k
WPP2.4k

Included Medical card


The insurance package almost a year, any advice with the package I taking or should I increase the amount of I'm paying or wait until when I reach 30years+?

Is there any other I need to cover that I've missed out?

This post has been edited by Leon||: Aug 12 2012, 02:17 PM

Does it comes with a medical card? Also try to increase on the accident, if your budget allows but priority is the medical card.

or after claim 36 Illness 100k and recover and accident death claim another 200k

Endowment depends on how much you plan to save in order to reach your goal to obtain your future plan (Dream house worth 300k? 500k? 1mil?)

I would suggest you to get 36 critical illness and early payout critical illness claim. It is crucial because you need these money to clear your commitment rather than pass the commitment to your love one when unfortunate happens.

Furthermore, early payout critical claim can helps you to recover in a better state by providing you some money when your critical illness is on early stage. You can recover in peace of mind.

Hey guys,

Just wanted to know if many here have experience with making claims from 2 different medical cards? An example would be a Tokio Marine Medic Plus together with another basic medical card. Any problems doing so? Or anything to bear in mind like having to pay cash first and then claiming it later?

My father's friends came over the other day (they are insurance agents), and they claimed that it isn't really advisable to do this as there's only one original receipt and it's troublesome to make the claims. However, after studying some insurance plans for medical cards (ILP and standalone), I'm favouring standalone plans using a mix and match approach that looks optimum.

So, would like to hear from people who have already tried doing this.

There is no point to pay 2 cards as you are paying more but get less, it is always advisable to maintain one card only. If you concern about the annual and lifetime limit, you may get higher room&board. However, to answer your question about double claim medical card, it is do-able in great eastern, you may claim your medical bill in other company and then take claim the co-insurance under great eastern's medical card.

Standalone medical card doesn't comes with waiver of premium, this is crucial as if anything happen to you, you still have to pay your medical card for life. Income maybe adjusted or you may lose the potential of income increment after some big illness, it is always recommended to attach waiver of premium to your medical card.

hi

wouldl like to ask ge agent here

i have spe2 with
80k each for
waiver of premium plus rider
ci benefit rider
and sepcc

plus medical card.
can I remove the waiver and sepcc?
can this be done thru online?
and what if after few years, i would like to have it back?

other than that, can we claim ci from few policies/company?

You are unable to remove it yourself unless you walk in to great eastern branches. Or you may ask your agent to remove them for you, else you may pm me for another alternative.

It is not advisable to remove those rider because those rider are crucial and important for your personal protection.

You can have those riders back after a few years provided you are still healthy, else you may impose with loading or exclusion.

Hi there, it's already cover 36 critical illness and have early payout critical illness claim if not wrong..
Should I increase my instalment or leave it be at the moment?

Since you already have investment link, I would suggest you to get a traditional participate whole life plan which is beneficial to you in the long run/retirement because the surrender value will increase twice or even trice from the premium you paid in long run.

If you need a quotation from great eastern, do pm me your age, sex, smoking status and budget.