After the policy is due on the 1st of the month, you have 30 days to pay and there is no penalty for late charges. However, if the policy is not paid promptly, it may lapse if no payment is receive if there is insufficient cash value to sustain the policy.

Yes you can pay via the online portal on the 1st of every month, but I do recommend paying on the 2nd if you're using PruAccess Plus portal as some customers had difficulty paying on the 1st.

Whichever works I suppose.

There won't be penalty for late payment if you don't make payment to your policy, however, for investment link policies, if there is insufficient cash value then it will lapse after 30 days from the last due date.

If you're worried about forgetting to make premium payment, perhaps you can set auto-billing directly to your savings account or credit card.

Thanks for the information, appreciate it. Thank you

Hi, can I ask a general question here.

I have been paying for my own personal med card for more than 7 yrs (w/o claim).

1. If my company is currently currently providing medical card benefit (R&B 200, RM60k annual), does it make sense for me to maintain another med card personally? I guess if ever I need to utilize the med card, I would have use up the company benefit first.
2. Does it make sense to cancel off my existing personal med card plan. Assume if my next company doesn't provide this benefit then only I start buying for one?
3. Recent premium increase has been quite drastic (>35%). Agent's been suggesting me to change my existing PRUflexi Med (PFM) to Prumillion Med (PMM). Tried comparing the product. I think PMM has a. lower sustainability age in exchange for higher annual and lifetime limit. Any other feature which diff these 2 products?

Thank you in advance.

This post has been edited by Bali ais: Apr 29 2021, 03:53 PM

1. Personal insurance is in case you're laid off and no longer get coverage from your employment

2. Insurance is a long term commitment, if you just buy only when your employment doesn't cover you then perhaps you should get a standalone yearly policy.

3. The newer plan will have higher coverage, it'll definitely be better than the older plan otherwise the insurance company won't bother to launch newer updated plans. However newer benefits may incur a higher charges in cost of insurance compared to older plan so you may want to check how much more you're required to pay if you wish to upgrade or how it'll affect your existing sustainability term.

Hi all, I am 28 this year and I have been paying for my medical insurance roughly rm225 a month in 2021 (rm200 last year) and I have a life protection insurance (RM100k) with another insurance company. However recently I was chatting about insurance with my friend and was told that "life insurance is useless, it's better to get specifically critical illness-related insurance, esp early critical illness type of insurance". I know very little about insurances so can anyone explain why would my friend say smth like this?

My mum passed away years ago due to cancer and i remember how much my dad had to pay for all the treatments and hospitalisation costs so this got me worried. Can i please get any advice or insights from you guys? Or how should I check whether my existing insurance plans are enough for me?

1. Life Insurance - Pays in the event of a total disability (pays to you) or upon death (paid to your named beneficiary)
2. Critical Illness - Pays to you in the event of a End stage critical illness, eg, malignant cancers/stroke/heart attack (to name a few)
3. Early Critical Illness - Pays to you (certain % of the Critical Illness) in the event of a Early stage critical illness, eg, carcinoma in situ cancers/ mild stroke
4. Accidental Death/Disability - Pays in the event of a total disability (pays to you) or upon death (paid to your named beneficiary) whereby the event was caused by an accident
5. Waiver - Waives out the premium paying and pays the same amount of premium at the time of event, eg, critical illness or total disability

I do suggest you make an appointment with your agent and ask to list down each and every benefit of your insurance. Ask question like when and what is payable & not payable.

General rule of thumb:
1. Do not spend more than 10% of your nett income on insurance as it will mean you will have to forgo other areas, such as savings/investment. Investment here refers to Stocks/Properties/Crypto/Unit trust/forex/Government bonds and many more.

Buying insurance is NOT for investment. It is more for protection.

2. If you have dependents, then have a goal to have at least 10x of your annual salary as the sum insured for Life Insurance. eg, if you have a child that depends on you, age 1-7 (rm1K/mth / 12k/year x 7years up until he/she is age 20/25). Do not forget about inflation, add on 4-5%.

If you do not have dependent, then 3-5 years should be more than suffice.

3. For the critical illness, have at least 3-5 years of your annual salary.

The Medical card pays to the doctor/hospital, not a single cent is paid to you even if you have RM2M annual limit plan.

Your friend is somewhat right. Pay to you is more important as you are the golden goose that lays the golden eggs.

Thanks for your input.

Thank you for taking your time to reply me this detailed!! Appreciate it! I started working overseas years ago so I guess it is important for me to make sure that I can still use my insurances if anything happens to me overseas. Some insurance companies come up with insurances for CI and ECI separately

It's good that you have awareness of the hospitalization cost as you've seen how your father had to fork out for the hospital bills for your mom.

Insurance is divided into a few segments.

Death - Pay out upon your death
- You may want to get a higher payout if there are dependents who depend on your income while you're still alive and able to work but what if you're no longer around, what will happen to these people who depend on you financially?

Total permanent disability - Pay out upon total permanent disability
- You may want to get a higher payout for this in the event you're permanently disabled, how long will you be out of job ? will you be able to secure the same job with the same pay?
- If not, then you would want to secure at least 10x of your annual income (This is not a magic formula, you may want to secure a higher amount, all depends on how long you'd like the payout to be able to support yourself)

Critical Illness - Pay out if you're diagnosis with critical illness
- Similar to TPD, If you're critically ill, you may not be able to continue your job for a period of time or perhaps permanently as well. If that is so, perhaps you'd like to cover atleast 3x - 5x of your annual income while you recover fully one day and be able to go back to work.

Personal accident - Pay out upon accident death, dismemberment, loss of limbs, etc
- Personal accident should be considered as you may not end up being permanently disabled but temporary disabled due to accidents. PA is cheap to buy and covers some additional items such as kidnapping, personal liabilities, dengue, prosthesis and etc.

Hospitalization & Surgical Benefit
As in your case where you're worried about medical cost, nowadays, medical card easily covers 500k annually with no life time limit all the way to RM3.5m annually. If you have around RM1 mil annual limit, it's more than sufficient for the time being to take care of healthcare cost but you might want to review it from time to time to adjust to the medical inflation in Malaysia.

Ideally you'd want to consult a Financial Planner to help you better understand what you need to cover after going through a Financial Health Check to determine what risk you may be exposed that you're unaware of.

Whatever I've mentioned above is just a general comment and may not be applicable to every individual.

This post has been edited by lifebalance: Apr 29 2021, 10:55 PM

Thank you for taking your time to write all this info! Definitely understand insurance a bit better now I don't have any dependents now but eventually I will have my own family one day so is it better to factor it in right now or wait till the day comes? Cus I know the cost of insurance increases with age.

It's not necessary for you to wait until you have a family, if you incur debts yourself by taking in loans such as House, Car, Credit Card, Personal Loans, etc. These debts may need to be settled upon your death otherwise if you do intend to leave behind anything for your next-of-kin, there may be nothing much left after deducting your liabilities via your Estate if you don't really have much Assets to begin with.

Got it. Thank you for the advice!!

Hi roy,

For No. 2 above, Cancer Treatment & Kidney dialysis for PVM is capped at RM 1.5m per lifetime.
Let say if a patient needs RM 1.8 million for the above treatment, then the difference RM 1.8m-1.5m = RM 0.3million. Will Prudential pay 80% of the RM 0.3 million?

This post has been edited by Nepo: Apr 30 2021, 02:58 PM

no the limit is 1.5x of the med value point. if the med value point is rm1m, max claim for cancer n kidney is 1.5m

anyway i have yet to see anyone hit >500k cancer claim and still surviving though...

if this is something that concerns you the most then you are most welcome to look at PruMillion Med.

My personal opinion is, get something within your budget, not because the plan is more attractive.

As reference to the brochure,



For PVM, supposedly if you chose RM1 mil as your Med Value Point. That max outpatient kidney & cancer will be RM1.5m per LIFETIME.

Meaning once it exceeds the amount, it'll no longer be covered.

This post has been edited by lifebalance: Apr 30 2021, 03:15 PM

Thanks @roy @lifebalance.
Really helpful and experienced senior sifus

Dear Sifu,
Lately I went for blood test and found that my cholesterol level is high, about 700mg/dl. After consultation with doctor, he recommend on diet and not recommend taken cholesterol pills. Now, it has reduced to 500mg/di. My concern is if I want to buy Prudential Medical insurance Pru Million Med, do I need to disclose it in the proposal form.

If I disclose it in the proposal form, the chance for rejecting or premium loading is high or not?

fyi, my age is 29 years old.

This post has been edited by firee818: May 4 2021, 04:04 PM

exercise n diet control first... once under control then only apply. getting a medical card doesnt mean you neglect your health

It looks worrying @ 700mg/dl.

looks better @ 500mg/dl, whatever you're doing now seems to be working to reduce your cholesterol so keep at it for the sake of your own health in the long term as well.

If you've done a test recently, you can submit it during your application for the insurance company to review your latest reading.