you go PM!

The Malaysian class policy does not cover if your son stays more than 3 months in the States. When your son gets to the states, get him to inquire about the medical insurance options for foreign students.

Itis extremely expensive to get treatment in the US without an insurance policy. One of my client from the US who is an expat in Penang told me the cost for a heart bypass costs USD500k.

This post has been edited by roystevenung: Jul 11 2013, 11:55 AM

Hi,

I'm currently holding a investment linked insurance policy. There is some question I have in mind.

1) For the monthly premium we paid, after 6th year all the premium will go into investment of my choice right?

2)After the fund sales charge any other additional charges such as service charge and insurance charge?

3) May I know all this charges on my account and look at my account status such as investment amount at the prudential customer service center?

4) Is it possible to change my prudential agent?
Hv a difficulty in communicating with my current agent, simply coz he cannot answer my question.
Just all his talk talk talk =.=

Hi Edward,

1 & 2. Yes, but dont forget that it needs to pay off the insurance charges by deducting the units available.

3. Yes, you can call up the service center on the cash value available. You will also receive a yearly statement on the fund performance and how much is being deducted to pay for the insurance charges. Just make sure your address is up to date.

4. Yes it is possible to change agent but the new agent will not be getting any commission.

Anyone heard of Prulife ready?
If maturity at 55 years old, after that no need to pay? What happen is after maturity date, the cash value is fully withdrawn? If death, still get rm500k?

Very confusing. Is it a good deal?

This post has been edited by Deathscythe@@: Jul 19 2013, 10:35 PM

Withdraw cash fully means you are surrendering the policy, the sum assured of RM500k is not applicable if you have been surrendered the whole policy.

Meaning the maturity,age 25-55, still cab be extended? The life insurance, if we pay until d-e (touch wood) then the insured money will be there + saving? If only saving withdrawn all, but policy still paying every month, still get insured right
if we xxx? That is the benefit of life insurance?

In short, life insurance as we continous paying, until the day we were gone, the insured money will we paid plus the saving if applicable?

This post has been edited by Deathscythe@@: Jul 19 2013, 11:13 PM

Yes, you are right in your context, however, there is different between traditional and investment link in term of insurance charges. Investment link's cash value tend to used up when ones get old because of hike in insurance charges.

So Prulife ready is investment link? If paying rm xx per month until 55, maybe the money will be used up at the end?

the money you put in now will grow with Prudential for medium to long term,
& therefore will help you pay for your higher insurance charge in the later stage when its very expensive

First off, when it comes to insurance, you need to understand that for as long as you want to enjoy the protection benefits, you will be needed to pay.

Take an example of your car insurance. Are you only planning to pay up to age 55? Without paying yoyr car insurance, you cannot drive your car. The same analogy applies when it comes to life and medical insurance.

The standard term for medical cover is up to age 80, and if you are paying only up to age 55, that is another 25 years of not-paying. It is definitely not enough cash values accumulated in order to auto-run the policy till age 80 if there is a medical plan attached to it.

You can take a look at the brochure on the projected insurance charges each insurance company offers. For a medicsl cover that covers up till age 80, at age 66-70 the insurance charges for medical alone for a Rm100k cover can be as high as Rm9k per year.

Hence, it is advisable to plan for paying the monthly premium for up to age 70 or 80 (depending on the medical term).

Does PRU ffexi do cover hospital bill charges when admitted in hospital due to injuries to car/motorbike accident?

Does Pru Flexi do cover hospital bill charges when admitted in hospital due to personal accident happen at home such as fell down , arm broken, need to do minor/major surgery?

Does Pru Flexi do cover hospital bill charges when admitted in hospital due to sudden high fever,ear problem/surgery,nose synus, throat infection,handcut,fall down knee is bone is broken,...etc which not categories as 36 sick illness?

How many percentage is contribute for medical and cash back (saving/investment)?

Let say, if the premium was not paid 1 month, and it will be deducted from the cash back, in case, if the cashback is not enough , will they inform client by post request to paidd or will the policy be elapse?

Is there any tied contract until when need to be pay OR if we surrender the policy after the grace period, will nilai serahan value percentage how much?

please advice,

1 & 2. Yes, definitely it does cover. Accidents do not have any waiting period and for accidental cases the cover starts immeidiately once the policy is approved.

Do note that by paying the first payment to the agent does not construed to policy being approve. Approval to get the policy is done by the underwriters which would take 1-2 working days.

3. Waiting Period.
- For fever/flu there is a 30 days waiting period.
- For Ears, nose, throat infection (including sinus and throat conditions), there is a 120days waiting period
- Broken knee due to fall is considered accidental cases and there is no waiting period upon policy inception

4. 1st year 40%, 50%, 60%, 70%, 80%, 90%, 100% (on the 7th year onwards) of the premium will be allocated to buy you units. Do note that if you are paying Rm200 per month, it does not mean you will get Rm200 cash value credited into your account.

How many units is being credited into your policy account will be dependent on the fund value at the time the premium is being credited.

5. You will be notified by sending you a letter to notify you. If there are not enough cash value to pay for the insurance charges on the second month, then the policy will lapse. Do note that upon revival, the waiting period reapplies.

There are cases where the client lapse the policy and later found certain illnesses and hence wants to get covered.

6. PRUflexi med is a medical card. If you want it to provide coverage until you are age 70, or 80, then the Insurance charges will need to be paid until age 70 or 80.

Insurance charges will go up by age irrespective of when you get it EVEN THOUGH the premium does not go up by age. Take a look at the full quotation on the column of insurance charges, not the premium.

If you are age 30, the annual insurance charges will be in the range of Rm1500, but when you are 60, the insurance charges may be in the range of Rm3k per year. The variance of the insurance charges will need to be deducted from your cash value at later years.

Whenever there is a medical card being attached to the policy, it is NOT for savings or investments. Its like your car insurance, if you stop paying the insurance charges, the cover stops. For illnesses, like heart, stroke, severe bone issues, severe diabetic that causes kidney to fail are normally associated with old age. Insurance is for protection, not for investment. That is when most people need the medical insurance the most.

At older age, it is not easy to get a medical card and even so, the premium would be high. Also, at age 60, most of us have to rely solely on our personal medical card as our company medical card is ended once retired.

When the policy starts, upon receive the policy document, there is a 15 days cooling off period. During this 15 days, just return the policy for a full refund if you are not satisfied with it.

This post has been edited by roystevenung: Aug 4 2013, 08:43 AM

What's the best insurance plan there is now ? Also comparison with investment link insurance. More focus on 36 illness. Thanks.

Roy Steven, Thank you for your immediate response and information.

Appreciate much!

1. It's mean holder of medicard Pru flexi enjoyed the coverage after policy is approved which the hospital bill charges is covered as admission to ward,thus surgery minor/major due to Vehicle Accident and Personal Accident. however will there any compensation paid ?

2.Does MC can be claimed?

3.If we add pru clinic care which cover 2 year (per annum value is set to RM288 ), does it mean after 2 year, the policy is elapse?

4.Under pru clinic care, does it mean that charges of per visit to clinic is deducted from the pruclinicare medicard?

5. As per quotated per annum is RM288, if the limit is exceeded, does we need to pay cash ?

6. Under prumedi clinic, MC can be claim?

1. PRUflexi med is a medical card and it only covers the person being insured, and not the vehicle. For the vehicle, thats where your car insurance will come in.

As to whether there is compensation paid will depend on whether you add in the rider call Hospital Benefit(HB). 1 unit of HB is pays Rm50 per day if admitted to the hospital. The HB is paid based on the number of days that the hospital is claiming from Prudential.

If you have 4 units of HB, and was admitted to the hospital as an inpatient, then you will be paid RM 1, 000. The check for HB normally takes 2-3 weeks to arrive upon discharge from the hospital.

Under the PRUflexi med plan, if you are entitled to stay in a higher room, but chose not to, Prudential will reimburse to you the difference. For example if the room that you are entiled for is RM300 per day, but you are OK to stay in a RM150 per day room.

For the 5 days admission, Prudential will reimburse RM150 x 5 = RM750

2. You could add in PRUacci income (PAI) for MC, but it is limited to accidental cases only. One unit of PAI pays Rm50 per week for partial disability and up to Rm100 per week for temporary permanent disability.

If an accident that renders us to be on wheelchair for 6 months and having 5 units of PAI it pays RM500 per week, which equals to RM2k per month.

3. PRUclinic care (PCC) is an add on card on top of PRUflexi med. It is used in clinics including seeking treatment for minor flu or fever. In a year you are entitled to claim up to Rm1500. Just waive the PC card at any clinic having the PCC logo.

After the 2 year term has ended, the cover for PCC will end and is subject to be renewed. PCC was introduced in 2011 and it is still new. We are still looking at the claims ratio for PCC.

PCC is by age band and covers up to age 60 only. Do refer to the brochure on the cost for PCC.

4. Yes, the Rm1500 limit per year is a separate amount under the PCC and has nothing to do with the PRUflexi med medical card. It is used in clinics whereas the PRUflexi med is used at the hospital for hospital admission.

5. If you exceed the RM1500 per year limit, then subsequent clinic cost needs to be paid by cash. Having said that, I had never seen anyone claim RM1500 per year for clinic. Do note that PCC can only be use at any GP and not specialist clinics. For example child specialist is not covered.

6. If there is a minor accident and you have both PAI and PCC but was not admittee to the hospital, the clinic cost (for example dressing and xray cost) is covered by the PCC. Subsequently, you may get the receipt and ssk the doctor to write behind the receipt the causes of accident in order to claim for PAI.

You also need to submit the MC as given by the Doctor.

bump . . . well explained by uncle Roy

Hi all the expert here, I have a question regarding the pruhealth+invesment link+life insurance I am going to buy. If I die at the age of 70, and I have 50,000 ringgit cash value in my account, what happen to those cash value? Would the insurance company give the cast value to my family along with my life insurance? Or they will just eat up the cash value?

I know in traditional life insurance the cash value belongs to the insurance company when the insured person die, but how bout my case? Would be glad if anyone can help me here.


Thanks

Of course it belongs to you. Total cash value plus basic sum assured and any other additional sum assured. Every company's investment linked life insurance works the same way

PRUhealth is the medical card, of which it is used to pay the hospital bill if we need to be hospitalized. That will help your family not be burden by the hospital bill.

The hospital claims will not affect your cash values if there is any.

Upon death of the insured person, the cash values + sum insured (life cover) will be paid out (no matter if its traditional or investment link policy).

However, do note that even though your premium does not go up by age, your insurance charges will. At age 60 and above the insurance charges may be double of what you are paying when you are in your 30s.

The variance of the premium paid and the insurance charges will be deducted from your cash value should the premium paid is not enough to cover the insurance charges.