Myself

single, 23 y/o, income around 3k-4k/month

my insurance plan

1) Great Eastern investment linked

life protection : 80000
critical illness : 50000
accident : 50000
return (non-guarantee) : 20 years : RM 50000

pay : RM200/month


2) Great Eastern critical illness(living care)

critical illness and life : RM 15000

pay for RM 50/month

3M+ coverage for PA only, costing 3k+ a year. No life and critical illness coverage.

This post has been edited by newbie99: Oct 20 2010, 04:32 PM

Mind sharing your reasons for buying and paying so much for PA .... and yet not having medical card or CI insurance

wow that a lot

got cash value for it?

---

Added on October 20, 2010, 5:33 pmThis is one my friend in who work in Singapore one, please advice:)

income SGD1400-SGD1700 (depend on O.T)
(around 3500-RM4000)

then she got 3 x 10years endowment for total RM1500/ month

whereby she'll get around 500k to 600k++ for retirement

not protection plan =.=

what you guys think??

This post has been edited by JerryTeh: Oct 20 2010, 05:33 PM

Wow, I only have medical card. Prudential. Monthly payment is only RM 600++ (Mine + GF).

Have not get any life insurance.

wah why so high one the premium??

I thought only cost around 600++ per year only for medical card only?

Which 1 better?

ING investment linked

Or

Prudential investment linked

Strictly speaking from the Fund Performance Point of View... Manulife is awesome (Manulife Equity & Manulife Managed) are market leader in their respective class.

For Fixed Income, Great Eastern Bond Fund is T3H AW3S0M3! How do I know all this?

Because I have Personal Money Magazine right in front of me.

So if you want ILI, buy from Manulife.

Pru is so-so, ING is T3H SuXs!

Xuzen

Pru is so-so, ING is T3H SuXs!

wat mean?

i dono wording use by young men nowday

lol

I bought the PA just to support my friend who is the agent. I have enough to cover all my liabilities, hence not buying any medical card, life and critical illness insurance.

---

Added on October 21, 2010, 10:28 amNo cash value, burnt every year if i dont use it. And i am not into investment linked insurance, as i feel i can get better return elsewhere (compared to the investment part of the insurance).

This post has been edited by newbie99: Oct 21 2010, 10:29 AM

interesting...how do you know you have enough to cover all liabilities?

Never heard Prudential got stand alone medical card. They got one already?

For me:

Life RM35K + Medical card + PA RM40k = RM75.09 per months

Stand Alone Critical illness RM150k = RM 285 per year (because of smoking, damn)

Thanks

This post has been edited by raph: Oct 21 2010, 03:02 PM

Xuzen, you know any ManuLife agent can do quotation for investment link insurance?

My insurance :


1) Allianz investment linked (PowerLink)

Life protection : 150000
Critical illness : 50000
Accident : 50000
H&S : 200 Room & Board, 75k annual limit, 750k life time limit.

Premium : RM150/month

Cash value not that much, paid for 3 years, got about 300+ cash value only.


2) BHI (Hospital Income)

Hospital Income : 370 per day

Premium : RM 30/month


3) Chartis Stand Alone critical Illness

Protection : 150k

Premium : 204 / year (at 25-29 age)


4) Chartis Personal Accident

Protection : 300k

Premium : 40 / month

This post has been edited by almeizer: Oct 21 2010, 02:14 PM

Manulife Customer Service

Give them a call and I am sure their rep will be very happy to see you.

Xuzen

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Added on October 21, 2010, 2:57 pmTranslation into NON-LEET speak:

Prudential's fund is mediocre whereas ING's fund under-perform wrt peer.

Xuzen


This post has been edited by xuzen: Oct 21 2010, 02:57 PM

Chartis got PA with monthly payment? Why i never heard that. lol
Is that called Juara PA?

Thanks

me 27 years old, no insurance

me, 24 years old,

1) Allianz investment linked (PowerLink)

Life protection : 150000
Critical illness : 50000
Accident : 50000
H&S : 100 Room & Board, 50k annual limit, 500k life time limit.

Premium : RM120/month

2) HLA Wealth Builder (Saving Plan)
monthly of Rm500. After 20 years = get back 72k.

what do u think?

It includes investment-linked. Medical insurance covers up to 750k in a year. I doubt I will use that much.

GF is taking Pru-lady plan.

Just calculate liabilities for myself, wife and children etc... and have enough cash, liquid asset and long term recurring income asset to cover our needs if i become totally disabled.

Hey to all insurance agent in this post:)

Me myself is an insurance agent too:) from Great Eastern

I appreciated the PMs, but thank you

And the purpose I do this post is to know more different thinking towards insurance:)

So no worry I wont PM you guys to sell insurance

tis is a very interesting thread.

Almeizer. I am a manulife agent..wat do u wanna compare?

---

Added on October 21, 2010, 7:31 pmnewbie...just wondering r u really sure....
PA = anything to do with an accident only can claim....so u got a TPD that is over 1mil i hope to be able to cover everything.

---

Added on October 21, 2010, 7:36 pmGood one Jerry.

I'm with Manulife

I got a Maxshield Plus + IPB

Life/TPD: 200k (20 years time become 400k)
CI: 180k (20 years time become 380k)
MediCard: 300 (No Co Ins)
Annual Limit: 240k
Lifetime: 600k
Outpatience: 100k

Cash Value: 0 by the time i'm 50...n that's 19 years more

i'm paying only RM300 a month

tis shows to prove that v can customize a policy to fit the needs of the client. to me it's either cash value (den might s well get a savings plan) or protection (den y bother about cash if it's for protection.)


This post has been edited by coolpajames: Oct 21 2010, 07:36 PM

Nope, it's offer for Streamyx user. I subscribe for my parents also, 200k protection and pay 28 monthly.


PM'ed you.

This post has been edited by almeizer: Oct 21 2010, 08:04 PM

owh no wonder, another kind of distribution haha

Investment linked better or pure insurance policy?

haha:)
I always like to answer this quetion to my client

If claim earlier, Investment linked will be fantastic
low premium high sum assured
Eg: 30 y/o male non smoker

RM100/m(RM1200/Y) can get RM100,000 critical illness protection, with a non guaranteed return(investment) of around break even(24000+/-) on year 18 - 20

if claim later or no claim, traditional is fantastic
Moderate premium moderate sum assured with Higher cash value and INCREASING protection

Eg: 30y/o male non smoker

RM3430/Y to get RM100,000 critical illness sum assured

cash value on year 20 = 96000(premium paid 68600)
Cash value on year 30 = 198000(premium paid 102900)
protection on year 20 = 220000

It actually like renting(InvestmentLinked) a house or buying a house(traditional), buying a house you'll get asset!

depend on your budget:)
high then 100% on traditional
mid then MIXed
low than Investment link

jerry

This post has been edited by JerryTeh: Oct 22 2010, 07:35 PM

Really depends...and Jerry has answered it well.

to me investment linked insurance are fun to customised...imagine a see saw...1 side is protection n the other savings...which do you want higher??? ur choice of either 1 is more the other is less.

term...to me it's just a sure value no matter when it happens

depend on your purpose.
the answer might be different from one person to another.

Investment link = protection + saving + investment
traditional policy = protection + saving

prudential

i mau tanya u

1. wat different between PRU health and PruBSN Takaful health ? Pros and cons?

2. Do u hv any plan that can earn money? i don't want buy unit trust.

Currently, I had 5 HLA insurance policy. As I'm an HLA Agent.

The first of course the life protection with critical illness, medical card, PA, CPA and etc.

2nd policy- A retirement plan, to better future and retirement.
3rd policy- short term saving plan- Cash Builder
4th Policy- short term saving plan- Cash builder
5th policy- short term saving plan- HLA Wealth Builder


No Insurance No Life~

wat different between Cash Builder and HLA Wealth Builder ?

500x12x20= 120k

If not mistaken, the HLA wealth builder pay 6 years only.

So it is 500 x 12 x 6 = 36k.

But after 20 years get back 72k is guaranteed?

he's a fortune teller
he knows if something unfortunate happens to him it would be from a result of an accident
so yes he has covered all his liabilities or rather risks...

Almeizer,

1stly...sorry i just got back from a seminar, i'll revert to u soonest k?

to answer the question...no...not all are guaranteed. would really need to c the plan...from Manulife there's a premier saver which u pay for 5 years and at the end of 20 years u do get back a lot of money...
y i say that...

Sample k for RM500 a month budget, u get a life protection (death and TPD) (face value) of RM17,685

1. when u pay up front the entire premium of 5 years (RM500 X 12 = RM6k X 5 = 30k) after each annual deduction of ur premium the company will give u 4.5% on the remaining balance.
2. from year 1 the policy will pay u a % of the face amount; 3%, 3.5% & 4%
aka

1st 5 year = u r GUARANTEED 531
2nd 5 years = 619
last 10 years = 707

3. at the same time your cash value is still appreciating at an average or 5% (take the Bank Negara SOP on all insurance company's sales illustration of between 4-6%)
where at the end of 20 years u get back 60,488

now to total up...

the guaranteed cash = 12,820
policy maturity = 60,488
= RM73,308

4. the Guaranteed cash...when u leave it with the company u get another 4.5% from it.

*** u can count the 4.5% COMPOUNDING interest given out to u...aka u r getting almost 80k? correct me if my estimation is wrong k

---

Added on October 24, 2010, 7:52 pmi'm going to say it in a simpler manner...do read this with an open mind k...

it's like comparing an Apple to another Apple...it's just different shape but same taste same texture same smell same everything just different shape. both are also saving plans aka wealth builders...

yet the main difference would b the tenure that you would need to pay premium and the returns you get when the policy matures.

guys pls provide info on these 2 plans so that v know

thanks



This post has been edited by coolpajames: Oct 24 2010, 07:52 PM

which 1 give max earning

1. PRUhealth if you attached to PRUlink plan. Takaful Health if you attached to PruBSN Takafulink.
In term of benefit, the plan is exactly the same.
In term of claim process, I don't see any different. Both very good in processing claim.
The major different is between List of Panel Hospital.
As example, Takaful Health has Prince Court, KPJ Selangor (Shah Alam), Hospital Pusrawi in the list while PRUhealth don't have.
While PRUhealth has Sime Darby Specialist Centre Megah, Tropicana Medical Center and Tung Shin in the list while Takaful Health don't have.

2. Not really sure what do you mean. Do you mean endowment plan? We have PRUcash, PRUcash premier and PRUcash double reward.

Allianz Powerlink

Sum Assured 180k
Critical Illness 180k
Personal Accident 180k

Medical Card Room and Board up to RM300 , 100k annual limit, 1 million lifetime limit

25 year old, male, smoker, RM250 a month

I think u should read the thread more properly. I bought it to stop my friend from bugging me further. For your info, I have 200k cash for emergency use, and another 2m liquid asset to cover my liabilities (for 3 persons). Dont u think that's enough?

2m liquid asset which is creditor proof?
That's good!

can ask which insurance is the best?
interms of easy to claim and good cust service..
im 25 and still have no insurance lor

On this topic, can someone kindly explain to me the implication of the term : Critical Year in terms of payment of policy ?

It's something like when that year is reached, we do not need to pay the premium anymore, right ?

yes, it's stocks.

I have several plans, giving me a combined total of:

CI: RM200k-RM250k (I'm still tweaking the exact amount)
Medical Card: R&B up to RM500, RM250k annual limit, > 1 million lifetime limit, got deductible
PA: Quite limited. Might get a few free/cheap PA soon. Personally don't favour paying for PA.
Life: No need, I'm single.

And I'm paying only about RM90 a month. It pays to shop around

---

Added on October 25, 2010, 3:12 pmYou are a good friend indeed

This post has been edited by Veda: Oct 25 2010, 03:12 PM

haha i guess you'll get a lot of pm,
anyway my loc at JB, may contact me if you want
0166882426

for us as agent, the best policy is always a policy that is in force!! means activated, not lapsed =.=

no best policy but most suitable policy, normally for my clients, what i do for first plan is always comprehensive plan, that means will be cover life, critical illness, medical, investment and accident.

age 25 roughly from RM150 - RM 200
and one important message, no "cheaper" insurance in market, lower premium mean lower Cash value in the end

so no case like "kena nombor tak kena wang" as in lotery, haha

---

Added on October 25, 2010, 7:52 pmcritical years

in mathematics

annual bonus + compound interest of annual bonus > premium

REAL EXAMPLE FROM MY CLIENT

Life plan EconomicLife from Great Eastern
Sum assured RM60,000
premium 1635.90/Y

start year 1995

statement last year
total bonus in account = RM28694.83

new bonus declared = RM2,178.24
which is more than RM1635.90

so for this plan the policy holder may stop paying premium

noted: critical year normally is verbally stated by agent like me, but please noted that it is non guarantee
but currently in the market also got some policy that have short premium term, but still, please make sure from the contract it is GUARANTEED!!



and please allow me to do some advertising

I'm choose Great Eastern because one most important thing - reliable(insurance is talking about 20 30 yrs above!!)
as you all know, that's always a lot of non guaranteed bonuses and benefits in any policy, especially cash bonus,
see here official BNM report you'll know

http://www.bnm.gov.my/files/publication/dgi/en/2009/L.10.pdf



give me some time I'll try to put in a summarize one
here the sum
 bank_negara.pdf ( 79.14k ) Number of downloads: 167


Great Eastern = OLDest + Largest + Richest + most stable + most award winner + most Bonuses declared
almost every year, our bonus declared is almost HALF of TOTAL 17 insurance company bonuses declared in whole malaysia

---

Added on October 25, 2010, 8:26 pmfor insurance, it is always still insurance

insurance at the end of the days = protection, either create emergency fund if unfortunated, or retirement fund


difference between endowment(insurance saving plan) VS any investment

endowment =
save money with low/no risk mid return >> main purpose >> CAPITAL APPRECIATION
so sorry to offense a lot of insurance agent here, especially who always claimt to be BANKER
NO SO CALLED HIGH RETURN IN INSURANCE
NO 8%, 10% 12% bla bla bla pls....
BUT IT IS THE BEST TOOL FOR SAVING, NO RISK BUT CAPITAL APPRECIATION,
MOST IMPORTANTLY = CREATE A HABIT!

ANY INVESTMENT
to earn $ with $
with different risk and return
need some knowledge for most

saving is the starting point, investment is the bonus round, protection bring you to the end

This post has been edited by JerryTeh: Oct 25 2010, 08:26 PM

Good job for your bro..dividend should be around 200k per year XD..
make sure you do a will since you have no insurance coverage...

Can you tell me the different between Great IncomeEnhancer and Elite Builder ?

wow:)
so pro, you should be an agent, haha

more or less the same to me, only some gimmick benefits different(not too much related to creating fund)

EB got term 8/12/20
GIE got 10/15 (actually is 15/20 but guaranteed survival benefits > premium)

If you comparing the return you might get yourself headache
For my client, if budget and term wasn't big problem, we'll go for GIE, as you can either to continue to save or not from year 11 to 15. Flexible.

Frankly speaking,
For me there's always a line between company 'marketing' & financial planning.
End of the days, it still how much you succeeded to save that matter, right?

Using too much time in comparing plans and companies sometime bring very bad incident,
like last week my colleague's ex course-mate just past away w/o any insurance, fresh grads with high income in Singapore, my colleague was so sad until today, due to feeling bad for keep giving chance for her friend to compare investment-linked product.

Of course you have your rights to compare as a consumer.

If really want to compare, just go BNM webpage, QUOTATION sometimes means NOTHING.
Sometime me myself as an agent(I'd think a lot of agent) fed up for some freaking small, new, insurance company.
Their fund like ShXX but their quotation can be so damn nice, but we as agent we know, the chance to get as what shown in quotation is nil

And we're glad that BNM took some action recently to one of the mismanagement company ExxQx
(I dunno can be shared here or not, but it is in the newspaper)

This post has been edited by JerryTeh: Oct 26 2010, 01:19 AM

hahaha jeff u asking the right question in the right place.

if u wan easy to claim insurance...take from us agents...cos u got us to provide you the service, if u read the earlier postings u wud have noticed something there about a Bank Negara SOP...all insurance company does it the same it's just the matter of ur agent.
customer service??? u wanna call an agent or call the customer service executive?

i'm pointing out all these it's cause of not wanting u to be misinformed about the life insurance industry.

after the grand father story....to asnwer ur 1st question...wat do u really want...? n wat is the best to u?

---

Added on October 26, 2010, 3:33 amjeff y la u wanna start this comparison between company la....???

This post has been edited by coolpajames: Oct 26 2010, 03:33 AM

i would like to ask a question: why is that people like choose insurances that suggest earning potential when in actual fact this has nothing to do with the actual insurance. i.e. why would you want to buy a very expensive basket when you really only want to have a small portion of it (i.e. the insurance cover)? i can understand pension insurance as savings (heck i have one myself which pays a fixed amount when i retire until i die) but i really cannot understand why i would want to buy whole life or investment linked policies or life policies if all i want is protection. i believe a general insurance product would be more suitble as its less comitment (and most likely at least slightly lower average premiums do to the structure of the policy) and allows for easier switiching/upgrading across all products in younger years.

i think its most important to single our policies that serve solely for protection and buy accordingly (i.e. is it pure protection or pure savings purpose). there should be no mixing of both.

personally i hold this:

1. Medical cover from AXA (SCO, max plan, 500k annual, no additional life time limit)
2. Medical cover from TM (top up plan, max cover, 750k lifetime limit)
3. Company medical cover
4. MCIS supreme PA (1M)
5. Pension plan (pure investment linked, option of either lump sum payout or pension for life when i retire or cant work anymore) current contribution approx. 800 RM per month - its a citibank product i got from abroad and keep paying for.
6. Additionl pension would be EPF (noone mentioned it here, guaranteed minimum ROI)

Thinking of adding a CI plan to make up for loss of ability to work but not finalised yet.

Additional plans would be: house & householder insurance to cover potential losses and a personal liability cover of 1 M.

Thanks for the reminder. Dividend is not that much as most of them are growth stocks.

Jerry Tan, since your GE agent can I ask you something?

I found a credit card giving 2% and 3% rebate on GE insurance. Link here
http://www.ocbccards.com.my/gePlatinum.aspx

But in the faq it says by "You must sign up for the Great Eastern Easi-Pay Service for your Great Eastern Insurance in order to enjoy the Insurance Premium Rebate". So is it all GE insurance entitled to the rebate or only a portion?

I have critical illness of 75K and investment-link medical card room&board RM300. All with Great Eastern.

Investment-link also comes with 100K critical illness.

This post has been edited by vilim: Oct 26 2010, 03:07 PM

Am wondering here : if we feel that we have too many policies, and we terminate a policy, are there any problems or difficulties when we do this ?

I think any insurance company will not like us doing a surrender, right ?

Will they give us problems like not releasing the Cash back to us, or delaying the refund, etc ?

Normally how long will it be before they will refund us the Surrender Value ?

Thank you.

Hansel, I think you should always do a review of your policies to see the NEED in keeping which policy... don't simply cancel policies. Some are hard to come by.

---

Added on October 26, 2010, 4:34 pmnow... this is CLASSIC!
I wish I have a friend like you.. but still, I wouldn't sell PA to you without selling critical illness & medical coverage first.

This post has been edited by vilim: Oct 26 2010, 04:34 PM

this I'm not very sure, I did for my client and not actually ask the outcome

but should apply to all GE insurance, but there is a limit, If i'm not wrong is capped with RM6000 premium/year

sign by Great Eastern Easi-Pay Service mean autodebit by this credit card. Just a normal easypay form thats all our agent should have.

vilim is right, do full policy review/analysis before take any action. I think most agent can do this well.

insurance company will be neutral for surrender
so they wont hold the cash value
It may take 2 weeks to 3 weeks for cheque

but why we always try our best to stop client from surrendering policy because of 1 important reason :
client suffer $ lost and lowering own protection

surrendering policy really a BIG LOSS.

1) You can't buy back the policy again. differ in age and premium
2) Lost in cash value. if less than 15 years, most likely TOTAL PREMIUM PAID > CASH VALUE
3) You may couldn't buy insurance anymore! (health condition)
4) Most insurance is not for our self, protection is for family, loved ones.

You should proud if you capable to have a lot.

Here give you a rough idea of cash value vs premium vs time


My advice, please don't surrender policy, except really really no other choices and need cash.
If got budget,pay premium even for policy that is already past critical year.
No harm to save. The compound interest in insurance is not bad.

This post has been edited by JerryTeh: Oct 26 2010, 06:41 PM

JerryTeh,

and the loss in life policies and their riders is another very good reason why one should consider general insurance huh? no issues, no losses, strictly pay as you go only (other factors equal, i.e. cant insure preexisting conditions etc.).

I understand, before I became agent I also think the same way.

Because I like clear cut
Investment = investment
saving = saving
protection = protection
right?

But if you spend some times to compare General insurance and life insurance, you'll know the difference.

Main different

1) Cash Value
Even though premature lapsed policy bring losses, but after 10 to 20 years, do you still need coverage?
YES! Even we may very rich in future, but richer means higher sum assured needed!!

2) Premium
General insurance Premium normally rise by age.
If you add it up until age 70 let say, then will know total amount paid without return.

3) Term of coverage
Maximum age that General insurance cover is always LOWER

4) Protection value
Life insurance(NOT investmentlinked) sum assured rise as years pass
General insurance offer Level Term sum assured
Eg : Life Insurance : Sum assured may doubled in 20years, General Insurance remain same, but premium may even risen up

5) Contract
There is a lot of different between policy's contract, please CHECK CAREFULLY(sorry I can't explain term by term)

Think again
Buying a traditional insurance(life,critical illness) like buying a house.
Sheltered your family,
Give us lump sum of cash, in case of unfortunate,
or as an asset for retirement.
ASSET value will RISE
After full installment, this house is yours! Don't need to pay, may keep, may sell, and value keep rising up!

OF COURSE, nothing wrong to buy general insurance
G.I is like renting a house, it sheltered your family too.
Renting means
1)Price will rise
2)NOT yours, may taken back anytime(depend on contract, please check carefully!)
3)NOT yours, can't sell it! NO cash inside
4)Lapsed easily(straight lapsed after 30days grace period)

LASTLY, insurance = responsibility.
When you take one of it, it's like a promised made. A promised that you'll take care of your family forever!
So shouldn't be policy lapsed, if we treat this responsibility seriously!
If policy not lapsing, no such thing as LOSS!
Normally traditional policy i.r.r more than FD if > 20 to 25 years!
Eg: 2 X total premium paid = cash value on year 30

This post has been edited by JerryTeh: Oct 26 2010, 08:51 PM

hansel...

SOP is about 2 week across the board. n u can take ur policy (original) n walk into any of the office n say u wanna surrender.

reason now is y u wanna surrender the policy?

---

Added on October 26, 2010, 9:27 pmPJusa...Jerry has it right there...

in my own way I'd rather b proposing investment link s i see it s being the most flexible plan to create for any1.

ie...imagine the core items in an investment linked life insurance policy = Protection and Savings....both r balanced like a weighing scale...if u want more on 1 side the other will decrease.

on the other note...d cash value/savings is another feature of benefit. the 1st insurance i bought was from maybank n i was paying monthly of RM50 ( i think else take s sample k) if i dun claim anything it's just there ... me spending money each month for just in case...den i tot y not take an investment linked insurance where i pay for the just in case and still there is a savings there..aka force savings. yeah...cos i dun save money then.

now the other part of investment link...for those who like to play stocks...invest in the company's stocks n get free protection n earn money buying n selling the units (share)...ok also rite????

This post has been edited by coolpajames: Oct 26 2010, 09:27 PM

You know something guys... I don't know about you all.. but I really like traditional policies. I think investment-link policies are great.. but still cannot beat the traditional policies like a whole-life policy.

I bought one in 2006 from Great Eastern called the Supreme Living Care Plus.. At that time, I really thought I had bought a house with purchasing my first insurance policy. In fact, it is better than a house because buying a house comes with housing loan which is a liability. I couldn't be happier with my purchase.. but now.. 4 yrs down the road.. I just regret how come I didn't buy a BIGGER house (insurance policy)! LOL!!

---

Added on October 26, 2010, 9:51 pmi just did a research on PRU health.. please check out their premiums on their medical cards.. it's so0o0o0o ex*******. this is the link:
http://www2.prudential.com.my/corporate/li...ts_download.php

knock yourself out. compare prices cause we work very hard, don't we? just download the brochure for PRU health and the premiums are at the back of the brochures.. nobody ever reads them, i'm sure.

btw, plans that can earn money in insurance are always endowment plans. great plans.. IF you can afford them.

This post has been edited by vilim: Oct 26 2010, 09:51 PM

PRUhealth is only can be attached to investment link. The premium is different with charges. The premium is depend on the entry age and it remains the same through out your policy. While the insurance charges is the actual charges that is deducted from your cash value from your fund. The older you are the higher is the insurance charges for PRUhealth.

Other insurance company's medical plan that attached to investment link work the same way. You need to understand between insurance premium and insurance charges.

Oh right.. their insurance charges are high.. but insurance charges affects insurance premiums, right? Still ex*******

---

Added on October 26, 2010, 11:07 pmi don't mean Prudential insurance is not good. i think their plans are a tad expensive, that's all..
that's my opinion when i check the brochure.. i got a shock.

---

Added on October 26, 2010, 11:11 pmoh and about this PRU Med Major 5.. it can be attached to investment-link policies or traditional policies?? really??

This post has been edited by vilim: Oct 26 2010, 11:11 PM

You need to check the benefit offered, then you know why the charges/premium as such.

Frankly speaking it is hard to compare one medical plan from one company to another. So far, I could not find two identical plan from different company. I found other more expensive plan - it is better from one aspect but lack from other aspect. I found other cheaper medical plan - and again lack here, better there.

It's back to the question which insurance is the best - because there is no answer for that. We should look for which insurance is suit us most. And are we willing to commit?

---

Added on October 26, 2010, 11:31 pmPRU med major 5 can be attached to investment link until July 2009. After that, it can only be attached to traditional policy.

If you are comparing PMM5 and PRUhealth, yes PRUhealth is more expensive. The major different, PRUhealth give No Claim Bonus while PMM5 does not. Maybe the different in charges/premium is due to the introduction of NCB.

This post has been edited by ajau: Oct 26 2010, 11:31 PM

Coolpajames, thank you.

My friend bought a policy when he was young. It is not too much, it's only of a 40K coverage. He bought it when he was 20+, and he is, I think 41 today, not too sure about this.

He been paying his premium diligently for the last 17 years without a single miss. The Critical Year was 4 years ago, in 2006. and it was extended by the insurance company up to 2012.

Who knows if the insurance company will not extend it again come 2012 ? What else can he do, besides cancelling ?

I think the main reason he is contemplating to cancel the policy and take back the money is because he is pretty mad that his Critical Year has been extended without his knowledge. He has other policies too, and those were not extended.

Yes, there is a loss if he cancels, but it's better to lose now than to lose more later. He has been paying for 17 Years and his Surrender Value is still ONLY about 66% of the total amount paid in the last 17 Years. This is NOT worth it, right ?

Secondly, he feels having a coverage of 40K is not much today. With his current wealth level today, he always has 40K in his Emergency Funds, and he figures he can invest the Surrender Value himself better today rather than leave it with the insurance company.

Appreciate everybody's comments here.

Hansel,

m i correct to say that u meaning 'the critical year' = when u dun need to pay premium anymore???

if it is, we best really have a look at his policy...in terms of how much he is paying for it. remember guys...that the cost of insurance increases with age.

if he was paying 100 a month when he was 20+ n still paying d same amount..cash value is VERY low. aka extended years.

u have a choice to either get a new policy or top up on the existing policy. n since it's more then 5 years old...best just get a new one cos the current policies has more coverage then those previously.

NOTE to all, no more 36 critical illness...it's getting almost to 40 now...previously a cardiac procedure that inserts a valve into the artery n balloon it open is now INCLUDED.

hahaha...to the last bit...if he wants to manage his own investment go for it u do get more back with it. if u r looking for a lower entry level and higher return compared to FD...endowment...like wat was mentioned a few posting ago.

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Added on October 27, 2010, 11:16 pmhahaha good one vilim...not many ppl will know how to take advantage of certain plans when it is offered. good on u

This post has been edited by coolpajames: Oct 27 2010, 11:16 PM

expensive policy have expensive value . . . you pay peanut you got monkeys
thats my personal point of view . . .
we have reasons why its slightly higher because our policy is:
1) "non cancelable" as some of the medical plan outside still "conditional renewal"
2) pruhealth have NCB = no claim bonus which most dont
3) its 1 of the highly exceptable medical card in market

Why PruBSN Takaful Health premium is more expensive that PruHealth although they have same feature?

MNet, good questions. i assume cos it's takaful.
At Manulife it's just MaxShield, with the options to double up death/disability benefit and/or critical illness benefit

PruBSN and Prudential is a separate entity.
The underwriter and everything is totally different.

im currently on pru takaful.....up to this point ive went to private hospitals for 3 times already, minor things only but very2 comfortable compared to gov. hospitals. and very fast also....last time want to do mri, went to gov. hospital have to take appointment that will happen in 3 month! private hospital today doctor said have to do mri, tomorrow morning done....

I'm planning to buy medical card.

Any recommendation?

Hi Mr. Ajau, is it
PruBSN = bancaassurance?
Thanks..

what type of medical card do u want?

allows u to go to normal clinics as well as hospital or just hospital n what bed range u want to b sleeping in?
basic medical card range are 100, 150, 200, 300, 400 and 500; which then comes with a lifetime limit n an annual limit.

depending on which limit u want, u have to trade off 1 being higher then the other. it's your choice.

Nope.
PruBSN is a takaful operator.

This is I quote from their website:
"Prudential BSN Takaful Berhad (PruBSN) was formed from the partnership of Prudential Holdings (Prudential) and Bank Simpanan Nasional (BSN), two financially strong companies in their respective fields of expertise. In early 2006, PruBSN received the approval from Bank Negara to operate a Takaful business."

I cannot buy takaful health alone?

Must attached it with takaful link plan aka unit trust?

wah!!! premium so cheap

may i noe which company?

really do check the plan out 1st...remember...u pay peanuts u get monkeys...

Yup.

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Added on October 28, 2010, 11:51 pmHe said his medical plan is deductible. That's why it is cheap.

As long as he knows what he is doing, probably he always have 1k, 3k, 10k to pay the 1st part of the bill. That's fine.

Everybody needs is different.

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Added on October 28, 2010, 11:53 pmCongrat.. Bravo..

This post has been edited by ajau: Oct 28 2010, 11:53 PM

So its kind of investment linked insurance ?

Tabaru fund is unit trust?

Takafulink = investment link plan
Tabaru' = donation/derma/sedekah

The remaining balance of your contribution (less all charges/tabaru') is used to buy unit in selected fund (a.k.a unit trust)

Pru don't have stand alone medical card?


Based on my observation, the premium price for Prubsn takaful health is expensive than Pru health is due to Prubsn takaful health need to have to paid sedekah.

Is it true?

Pru don't have stand alone medical card.

The way Takaful Health or PruHealth charging you about the same.

In Takaful, they call it tabaru'
In Conventional ILP insurance, they call it insurance charges

Insurance Charge for PruHealth in fact is higher than Takaful Health Tabaru' for the same age of policy holder / participant.

What I can see PruBSN has Risk Management Charge (i.e. Comprises of the risk management expenses of the Tabarru' Fund).
TH (Risk Management + Tabaru') > PHL (Insurance Charges)