AFAIK, there is no RM30K per year medical card from Prudential.

It would be best if you were to consult your servicing agent or if lost contact/no longer in the business, transfer the servicing to an active agent for review.

The cash values in the policy can be use to sustain the policy when the insurance charges goes up at older age.

If you were to withdraw from the cash value, the policy may not be able to sustain throughout the policy term.

Insurance 101

They are the same. It waives the premium if the life assured is diagnosed with critical illness (CI) or is totally permanently disabled (TPD).

Take note that it waives the premium and it is not free as the insurance charges is still subjected to be increase as the life assured gets older.

This is evident if the policy is attached with a medical card as the medical insurance charges can be rather costly as one gets older.

To help you understand better, here is an illustration as example:-

At age 40, Mr A took the policy with the following riders.

Riders/Sum Insured/Insurance Charges
Death/TPD Rm200k / Rm100
Critical Illness/Rm200k/Rm150
Accidental Death/Rm200k/Rm50
Medical Card/Rm1m/Rm180
Payor: Rm480

Total Mthly Premium: Rm480

At age 50, he was diagnosed with stroke. The lump sum CI is paid Rm200k to Mr. A and the Rm150 insurance charges is then waived/cancelled.

The payor will kick in and the insurer will pay Rm480 per mth on behalf of Mr A.

The insurance charges for the CI (Rm150) will now go into the investment portion of the policy as it does not contribute to any insurance rider. Therefore it helps to built up the cash values of the policy.

Assuming that Mr A survives till age 75, his medical insurance charges may had gone up to RM400 (from Rm180), of which the insurance charges is now at Rm100+Rm150+Rm50+Rm400=Rm550.

However the insurer is still contributing only Rm480. The variance of the premium payment vs the insurance charges is taken from the cash value in order to sustain the policy.

If there is insufficient cash value to sustain the policy, the variance will still have to be paid by Mr A.

This post has been edited by roystevenung: Sep 1 2019, 09:49 AM

Sorry, I owe you an apology. I kind of missed out replying to you

You may do an upgrade to either PruValue Med or PruMillion Med, provided there is no significant health issue.

If the medical card is able to be upgraded, then there is no Waiting Period of 120 days (if the old medical card has surpasses the necessary waiting period).

Yes, if the cost exceeds RM50K per policy year then the extra will have to be paid by yourself. After each policy year, the Rm50K is made available again until the RM150K lifetime limit is fully utilized.

If she has any other medical coverage (eg. from her company insurance), then she would also be able to claim from the company insurance (up to the amount of the bill) and the variance claimable from Prudential or the other way round (depending on which has a higher limit).

Ps. You may Whatsapp me (016-451 5957) should you need assistance on the claim.

If she had bought any Critical Illness/payor coverage, she can submit the claim to Prudential together with the claim form, doctor statement on Cancer and the necessary medical reports

Rm1.38 option shall suffice. Alternatively you can still remain with the PVM until your income improves

When you do an upgrade from an older medical plan to the PruMillion Med, it is considered an increase of risk to the insurer, therefore a set of Health Questionnaire will need to be answered during the upgrading application process.

If a claim happens within that 2 years of incontestable period after the upgrade, the insurer will have the right to investigate on whether the non-disclosure happens before the upgrade was perform.

If the insurer suspects that it may be a case of non-disclosure, the insured will be required to pay and file in the claim for claims consideration.

The insurer will then check whether there is any element of non-disclosure by checking on the clinics/hospitals. At some cases, the investigation may also look at the insured work, taking frequent day off MC, etc.

Should the investigation favors the insured (meaning no record found) then the claim will be paid. Otherwise a re-underwriting process will occur and re-offer/acceptance may occur on the policy.

The 2 years incontestable is on the upgraded medical plan as it is an added risk to the insurer.

For the medical plan upgrade, if the investigation is found as a non-disclosure of a material fact, a re-underwriting for non-disclosure process shall apply.

If there are revised terms and conditions for the medical plan coverage, a Conditional Acceptance Letter (CAL) /
Exclusion Acceptance Letter (EAL) will be issued to the insured for acceptance.

If the insured chooses not to accept the new terms, the upgrade will be rolled back and the assured will continue
to be covered by the medical plan prior to the upgrade.

Bottomline, make sure every health questionnaire is answered properly (be it upgrade or buying a new policy) and made known to the insurer during the upgrade.

This post has been edited by roystevenung: Dec 20 2019, 02:11 AM

You may ask for a PruValue Med quote to compare, if the budget is your main concern.

Need to check the contents of the 450 and more importantly it is suitable to your needs.

You can do your own analysis on the sustainability of the life, ci, tpd or medical cover by adding all your money at work should unable to work due to the above events. EPF, cash, rental income, insurance, etc

Point is the 450 is not a gauge on whether the insurance plan is sufficient or good/bad. It has to be measured vs your needs.

You can change the agent. However the new agent will not earn any commission as it will still go to the old agent (up to 6 years).

The new agent will only earn if you do any upgrade or buy additional plans.

Most agents who see this as a long term business will have no problem to take over the policy to assist.

My opinion is that at the moment PVM with Rm1m is sufficient.

You may look at upgrading to that together with the CI/TPD/Accident

However some just like the idea of having unlimited plans, which naturally translate into higher insurance charges

Not sure what the products are available for banca insurance...

Irrespective of the product, when you buy insurance, buy it for protection, not for savings or investment.

You can read more on my blog. Link in my sig 😝

Crisis Care
This rider pays a lump sum benefit upon diagnosis of any of the 43 covered critical illnesses aka advanced stage CI

A lump sum claim from Crisis care does not accelerate the basic sum assured, meaning if already claim the Crisis care and upon death, the death sum insured will be paid to the beneficiary.

Crisis Care - The benefit will only be paid if the life assured survives at least 30 days after the diagnosis of the critical illness.

Keywords that need to qualify for cancer includes malignant, invasive and destructive to normal cell, excluding carcinoma in situ (commonly known as early stage cancers).

Do refer to the policy contract on the definition of cancer. If you noticed it doesn't mention stages.

If the money is deducted then it shoupd be okay and done correctly.

The good thing about online transactions is that there is an audit trail, hence you need not worry.

You can check the payment history by logging into PruAccess Plus after 3 working days

Sabar bang sabar, no news yet and I not planning to poke the hornet's nest, so to speak 😝

For PruValue Med you can upgrade it on the same policy. However for PruMillion Med, it has to be transferred to another policy called PruWith You.

Both options are considered as upgrade with no waiting period.

Yes, that is correct. I would go for PruValue Med option.

Can upgrade to pruvalue med on same policy