Yes, it can, with a new policy and transfer of medical card to the new policy.

A Medical Underwriting will apply on the upgraded medical card.

If there are elements of non disclosure of material fact the old medical card will be reinstated and claim from there.

There is no waiting period on the new medical card, eg, 120 days specified illness

Your understanding is incorrect.

There is a reason why medical Underwriting is applied when you do the upgrade as it imposed higher risk to the insurer.

Otherwise, everyone would just get the lowest plan and when health takes sideways, apply for upgrade.

The 2 years Incontestibility still apply, which gives the insurer the right to investigate on the upgraded medical plan.

Slack does not contribute to the insurance charges as it is not for buying of any coverage. It is more to built up the cash value in order to sustain the policy longer.

You may increase or reduce the slack as you wish.

However for any Reduction, you will need to sign a policy sustainability form that the policy may not be able to sustain as per in the initial quote.

Benefit is that the cash value in the policy can be more as compared to policy without the slack.

Also, if a payor or waiver is included in the policy, if CI or TPD, then the waiver will kick in.

Ofc if you only look at it from the investment part and you have another vehicle that can generate better returns, by all means, go ahead... No right or wrong.

You may check the policy book if there is any maturity value payable. AFAIK for ILP, there is no maturity value other than the cash value

Whether it can be removed or reduced will depend on whether the policy can be sustain based on the terms that you selected. Eg if you want the policy to sustain until age 80,90 or 100.

The rm500 slack will be used to buy units for generating cash value, not insurance.

Since it goes to your cash value, you may withdraw the money ti use if you need it.

For the waiver/payor part, if you are down with Critical Illness or Total disability, the rm500+your premium will be paid by Pru until the end of the agreed term.

I don't normally answer a question with more questions but in order for you to have a better decision making on whether to switch, you need to be aware of these things...

Why do you think you will need rm1.38m annually for hospital bill? Is it to cater for medical inflation? 🤔

Supposed that you claimed out Rm500k for the hospital bill, then what? Do you think you can still work to still generate an income? If not HOW MUCH DOES PRUDENTIAL PAY TO YOU since we already paid Rm500k to the hospital... I would opine that this is MORE important than to worry of how much is being paid to the hospital and NOT A SINGLE cent is paid to you.

On the PVM n PMM

Are you also been made aware that the medical insurance charges for the PruMil Med will cost Rm10k pa when you are age 76-80?

Do you know that if you don't claim for PVM for 2 years, the Med Value Point (MVP) will increase by 2% (Rm20k pa) for a Rm1m MVP?



The Unallocated and agent commission starts all over, and the 2 years Incontestibility period applies to the upgraded medical plan, as already mentioned few post back.

PruLink One is not phased out as it is an ILP product that is up to age 100. It is because PMM can only be a rider in PruWith You policy that it needs to be on a separate policy.

Why is it so? Sorry I don't know cause I am not involved in the product design.



Bear in mind that the sustainability is using a fixed formula to calculate on paper, it may differ from the actual performance.

More importantly is that you need to keep track of the projected vs the actual to really understand whether the policy is sustainable in the real world rather on paper.

The recent events (political, pandemic etc) that saw the collapse of many funds are things that is not being foreseen in the projection of the cash values.

So get the Rm1.5 or Rm2m, PVM if you are that worried of medical inflation.

At the same time do remember to top up on your CI/TPD as explained above.

If unable to work due to serious illness/accidents and if your income is Rm5k per mth, that is Rm600k loss of income for the next 10 years to you or your family.

That IMHO is better to be protected rather than worry about just the medical cost...

Correct me if I am wrong, it seems that you got yourself a "no med saver" aka full claim plan - which is why the COI is at RM9.7k at age 76-80.

The high COI is the reason why Prudential has co-insurance/medsaver/deductible plan available but the idea of having to pay something when one needs to be hospitalized doesn't go well with the general public. Take a look at RM300 med saver or even RM20K deductible.

Have you ever compared the COI between Full claim, RM300 and RM20K?

1. Let me ask you, when was the last time were you admitted to a hospital?
2. In your lifetime, how many times were you admitted to the hospital?

Calculate the COI saved vs the various plans and you be surprised that RM20K (per policy year) deductible is NOTHING compared to what you paid. Value for money, as some may say.

Of course as an agent, most of them would not want to recommend clients getting a RM20K deductible, if the client don't afford. Secondly the commission is really half as compared to a RM300 med saver plan.

To get covered when you are healthy as the coverage may be declined or subjected to loading/exclusion once a person comes in with health condition.

Even consider looking at getting a CI coverage until say age 60/70 (might need to do a separate policy if your current policy is up to age 100) as its main purpose is as a replacement of income when you are working.

Early CI sounds good, if you are worried that once diagnosed with ECI, you may be off from work for few months to heal.

If cost of insurance concerns you, just look at the normal CI as that is what stops us from totally be at work permanently!

That way you may get a higher coverage. Better bang for your buck!

HTH

Look at the rm20k deductible, and you'll even be more surprised. At least that plan is maintainable until age 90/100

The main differences between TMCC vs PL is that TMCC offers a more comprehensive CI coverage (101 Early CI, 53 CI, Special Benefit Payout) than PL as PL is more focus on the female illnesses. For example mild Stroke, Heart Attack, coma is covered in TMCC

Another notable differences for the PL, lifestyle claim is claimable, the TMCC doesn't have this. PL will also refund back all the premiums paid at the end of the policy term. TMCC no refund of premiums paid, but only the cash values (if any).

You may ask your agent to disclose to you the technical FAQ on TMCC, to have a clearer picture on the covered conditions (as the training materials are for internal circulation only)

The TMCC brochure can be downloaded << HERE >>, though I must admit, the brochure is poorly done on the covered conditions.

A 50% of your sum insured will be paid out for Early CI (in your example above is Early Breast Cancer) and a subsequent 100% upon diagnosis of the covered late stage CI.

This post has been edited by roystevenung: Mar 26 2020, 02:11 PM

1. If the application for upgrade is approved, then there is no waiting period (since PruFlexi Med (PFM) was launched IIRC in 2012). However do note that application on the PruValue Med (PVM) the insurer is subjected to a 2 year incontestability period.

Should there be any evidence to show that there was a non-declaration of a material fact (especially on the pre-existing illness) the application for the upgrade may be downgraded back to PVM.

2. It is considered an upgrade, therefore do expect the premium to increase, depending on the age sustainability option, 70, 80 90 or 100.

3. Only for the upgraded portion (ie PVM to PFM), the changes of the allocation of the premium will be affected and reset. Eg, if you are previously paying RM200 and now it cost you Rm250, only the RM50 allocation is reset. Same goes to the agent commission.

4. It depends on your current PFM. For example if your current PFM is at age 90, and if you intend to maintain the current premium, you may try to lower down the sustainability option to say age 70 or 80 for the PVM.

If you decided to lower the sustainability age to 70, and only top up later, it needs to be going thru another round of endorsement (upgrade) whereby health declaration is required.

If you are still healthy then its not an issue to do any upgrade. Otherwise, it may be imposed with exclusion/loading/rejected (depending on the severity of the illness).

5. Do declare all questionnaires properly

Yes it is possible to reduce the coverage to only maintain the medical card for those ILP policies.

You may contact your insurance agent or walk in to any of the Prudential branches (after the MCO).

Yes, it is correct.

We are able to do Whatsapp / Wechat / emails / video calls together with selfie+holding the IC to sign up the policy.

Once approved, the policy document will also be an e-policy copy.

For the claims it can also be done by e-copy (keeping the original receipts)

Yes you can.

Fundsupermart

Yes you can buy from any Prudential agent who has Unit Trust license or buy Prudential Funds that is available on FSM.

Some of the Prudential funds you can also utilise yr epf via the epf iakaun

I am uncertain if you can buy funds using Boost though

Yes it is free for Prudential Customers and a small RM10 for non-Prudential Customers who downloaded Prudential Pulse.

Reward for the Fitness Challenge is get a hand sanitizer (however don't quote me on this as I have not use it yet )

For your information, the PruValue Med (PVM) with the room RM300, it comes with a Med Value Point Bonus (MVPB). For every 2 years of non-claim from the medical card, the Med Value Point will increase by 2%, eg RM20K.

If you lower to RM200, the MVPB will also be removed as the MVPB is only available for option RM300.

However, if you wish, yes, you may opt for a lower R&B and definitely RM200 comes with a lower insurance charges

Please be informed that Prudential is having an additional coverage for Covid 19 for FREE to anyone who download Prudential Pulse App. There is also a 10% on Starbucks!

WE DO PULSE BY PRUDENTIAL

For Prudential Customers
• RM1,000 (RM2,000 for customers who register in Pulse on or before 30 June 2020) upon hospitalisation to any of the Ministry of Health Malaysia (MOH) designated hospital within the coverage period due to COVID-19

• RM10,000 (RM20,000 for customers who register in Pulse on or before 30 June 2020) per life upon death due to COVID-19 within the coverage period

• Subject to maximum limit of RM1,000,000

Non-Prudential customers who are “Pulse by Prudential Malaysia” registered users
• Must register in Pulse by Prudential Malaysia on or before 30 June 2020. If you want to help support your boi, please use the Referral Code 0164515957

• RM1,000 upon hospitalisation to any of the Ministry of Health Malaysia (MOH) designated hospital within the coverage period due to COVID-19

• Subject to maximum limit of RM300,000 (sponsored by Prudential CSR fund)






This post has been edited by roystevenung: May 8 2020, 10:34 PM

MVP 1.5mil means that should your total cumulative hospitalization claims Exceeded the MVP value, then Prudential will pay 80% of the bill and 20% is to be borne by you.

The MVPB of RM30K per every 2 years of no claim means that the MVP value of RM1.5m will gradually increase by RM30K for every 2 years of non hospital claim.

Meaning after 2 years, assuming there is no hospitalization claim the initial MVP value of RM1.5m will be RM1,530,000 after 2 years.

There is no lifetime value for PVM.

As for the point no 2, I am uncertain as to why you have 2 medical cards running. It would be best to seek for the agent's clarification as to why you are having 2 medical cards running. Don't get me wrong,

I also do have client that has 2 medical cards running at the same time (since the first medical card is an older and lower limit). When the client wanted to upgrade, he already have ailment which makes the application for an upgrade an Exclusion. Therefore we have to apply for another medical card with an Exclusion whilst maintaining the 1st medical card.

Well if the policy book says the term is until age 70, that is what it literally means, until age 70.

Do note that it is the calculation of the limit is by the policy annexure year (depending on when you start the policy) and not by the calendar year, but for the sake of discussion lets stick to the calendar year:-

Year 2021 = RM300,000 hospitalisation - insured to pay RM 300 if med saver is attached
Year 2022 = RM600,000 hospitalisation - insured to pay RM 300 if med saver is attached
Year 2023 = RM500,000 hospitalisation
- first RM100K, insured to pay RM 300 if med saver is attached
- subsequent RM400,000, insured to pay RM80,000 (80/20 rule applies)

On a related note, it means you had 3 times of Critical Hospitalization with that type of claims and YET SURVIVE, which I had never seen before in my career as an insurance agent.

Well if the annual limit is really your concern, then you may look at upgrading to PruMillion Med instead of PruValue Med.