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

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

Investment linked better or pure insurance policy?

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?

wat different between Cash Builder and HLA Wealth Builder  ?

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

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

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Added on October 25, 2010, 7:52 pm
critical 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
[attachmentid=1851895]

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

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Added on October 25, 2010, 8:26 pm

for 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

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.

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

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.

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!!

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Added on October 26, 2010, 9:51 pm

i 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.

I'm planning to buy medical card.

Any recommendation?

wah!!! premium so cheap

may i noe which company?

recently my friend intro his great eastern agent for me,she talk about their insurance plan,but i still very confusing and cannot compared with other company,i duno which 1 is good or bad,lolz.so i still thinking what insurance have to buy,and what is the term that use in this forum?such as PA,CI?sorry im very new to this.
im 24,still havent have medical card and other insurance.i think my parent buy insurance for me since i was very small,duno what insurance he buy.

there are only 5 types of insurance

1) Life : pay upon death + (normally with total disability)

2) Critical Illness(CI) : pay upon Critical Illness, Death or Disability

3) Medical Card(MC) : Settle or Subsidies Medical Bill

4) Personal Accident(PA) : pay upon accident-caused death ( some with partially / total disability protection)

5) Endowment (saving plan) : Actually is Life Insurance, but having term (year of maturity)

Comprehensive plan, some plan with some other names, is actually part of marketing, to feed the needs of the current market.

Investment Linked is something highly demanded and suitable for youngster in malaysia.

Since it is comprehensive(normally agent will packaged it with Life, critical Illness, Personal Accident and Medical card).
Partially of premium will go into investment(so it is like "saving" too)

Hence it is a good FIRST PLAN to have. Cover all first and then when we got extra budget, we may top up another traditional plan as you wish as long as still healthy

manulife.

u got wat medical card plan?

mind to elabrate?

coolpajames,

Manulife got standalone CI plan or standalone disability income plan?

Hi cherroy,
I'll try to share some my point of view:)
1) Correct, the main purpose is.

To be frank nowadays seldom people buy "pure life insurance" already, but i will still try to explain:

i)Life Ins can be use as debt cancellation, eg :car

ii)Life Ins can be a "replacement" for "responsibility as a son/daughter"
  "Single" not equal no responsibility, we still have our lovely parents.
    They may not need/want the $ if something happen to us, but should we give & leaving them something as a child?
    Or totally nothing if we gone earlier,gone just like that?

iii) As asset : Life insurance give better yields in long run VS bank saving

and many more... you may check from your agent, or take LPA course

to be continue...

Insurance is about financial issue only.

There is no such thing I buy insurance for you, means I love you.
or
I buy life insurance for my kids, mean I love them.

Love your kids, then take god care of your kids, give then good education, give them good guidance, work hard and prudent in spending so that can save enough for kids education.

You can buy 100 million life insurance for your kids, or you can give 100 million cash to your kids, but one never take care of your kids, guidance to them, it is not a love.
End of story.

If one want to associate insurance with love, it is individual view.
But I will never buy this view, as I am stupid that and cannot understand money/insurance = love.
You buy insurance for your family or dependant is because of financial responsibility only.
Ya, may be I am too stupid that I don't buy too many insurance. 

This is my first time hear that life insurance better than bank return. 
Life insurance is not endowment plan, it is for protection not for saving.

As I reiterated before, if one has too much money to burn, that's fine.
But for those need to work in budget one, which most middle class people, and for single with no dependant (financially), life insurance (pure life protection) is not the priority at all. CI, Medical are more priority and important.

i agree with cherroy and kudos for reading the post too. its as hard to read as a geocities page 15 years ago. it's ok to promote one's business interest to some degree but the statements given by JerryTeh are just plain sales pitches that look very little under the hood. also once again: you never replied to my inquiries. are you sure you really want to have a discussion here?

My view for insurance is mainly for investment. If you cant get good return for insurance, you can consider REITs stocks. Insurance with high death coverage normally give very low to no return.

I always think that, getting good returns is better then anything else. Why?

People keep on getting insurance for safety reason, but a lot of them never think that what if they survive and they cant afford to pay and have to surrender for lower cash value. The probability of defaulting payment is much higher then the mortality rate which is about 0.001% per year.

If you get good return investment, those assets can also be given to your love one next time. And they continue to enjoy the high return. People don't necessary need to buy death coverage insurance so their love one can get one lump sum of money, and after that what they gonna do with the money?

What I am trying to say that, getting good returns investment is the best of both world (aim for survival). Buy too much insurance then if cannot die also no point (sry just jk).

Agree with you, I also bought endowment insurance for its return and tax rebate. Win Win situation. Btw FYI, Additional 1000 tax rebate for this 2010 onwards

Premium on new annuity scheme or additional premium paid on existing annuity scheme commencing payment from 01/01/2010 (amount exceeding RM1,000 can be claimed together with life insurance premium)

It is in IRB website link here http://www.hasil.gov.my/goindex.php?kump=5...3&unit=1&sequ=1

Not so sure about others insurance, but Prudential ILP and whole life mature at age 100. Most likely we will never meet our maturity and our beneficiary will get the death benefit. Again, depending on everybody needs. Some may want to leave some money behind (like harta pusaka to our son/daughter), some may don't need that.

Good things abt ILP, you can adjust your death benefit as and when needed. Maybe when you are still having younger child, so we want them to have better future, go to university even if we die early, so we may want to put high sum assured. When we are old, all of child are working and rich, they don't need our money anymore, we can reduce or terminate our policy. If you need some money, you can withdraw some from your ILP without any interest.

Everybody needs is different.