1. To answer your question, yes, it is possible to upgrade on that PruValue Med policy. The quote will to be calculated by the Underwriters.

Whether it will be costlier to upgrade on the same policy or add on another policy (by doing medical card transfer), is another matter though. Why not you get both options to compare before deciding?

I am still wondering why are you having PruValue Med & PruFlexi Med running together. Is your PruValue Med comes with a high deductible, eg RM20K or RM50K?

You may PM me if you do not want to disclose this information in public.

As for PruFlexi Med, no endorsement is possible as the product has been taken off the shelve. It is a good product that favors customer (admitted, get money) for claims, but good product tends to be getting claims abused.

2. See above

3. Alternatively you may do a medical transfer from the PruValue Med to the PruMillion Med on another policy (age 100). This way, if the PruValue Med has surpassed the 120 days Waiting Period, once transferred, the Waiting Period of 120 days does not apply to the PruMillion Med.

The old policy will have the PruValue Med taken out and therefore reduces the insurance charges which ultimately reduces the premium.

Since you mentioned that the PruValue Med policy also have critical illness/death insurance that is up to age 100, you can maintain this policy unless you do not need the cover any more.

Once the upgrade/transfer of medical is done, it is best to keep the old policy for at least 2 years due to incontestability period. However, this will be very much dependent on the health of the person.

The reason for maintaining the old policy for 2 years is that if there was a major claim on the new PruMillion Med and it is found to be a non-disclosure of material facts during the upgrade, it is still possible to revert back to the PruValue Med on the old policy (if the non-disclosure of material fact was only found after the PruValue Med is in force, of course).

It will depend on your company insurance whether they will pay the RM300.

You can submit the certify true copies of the medic reports, discharge summary, itemised billing and the original receipt for the Rm300 to your company insurer for claims consideration.

More importantly you need to understand how the rm300 can really benefit you in a long run.

If without the Rm300 upon admission, you may need to pay rm30-50 more per mth on your insurance premium.

How old are you and how many times have you been admitted to the hospital?

Assuming you are 30 yrs old and has been paying for full claim, rm30x12=360 per year, or rm10,800 for the next 30 years.

Yes if the event is related to your pre existing illness as mentioned in the policy document then it is not coverable.

However some minor pre existing illness(eg gastritis) over time can be appealed to be removed.

PM me your pre existing illness if you are not comfortable to mention here, see if I can help.

Yes I do have claims submitted after 8 mths, customer misplaced the bill due to cancer stressed, it was honored.

My question is why wait until one year only test whether the claim is payable? What if Pru reject? Better submit everything asap, payment also will be swift.

Anything that is related to the heart is no minor issue unless it is being triggered by certain event,eg drinking coffee can cause palpitation.

If after 2 years of non recurrent for the heart issue, you may get your agent to appeal to remove the exclusion by writing a simple memo.

1. That is not what I said, please read again what I had typed
As for the details on how long it is claimable for the follow up upon discharge from the surgery, it is maximum up to 90 days.

2. So it is not a minor issue, otherwise there won't be a need for future follow up.

3. Appeal to Remove exclusion can only be "considered" once it is no longer on a followup for at least 2 years. Key word here is 'considered'

There is no harm in trying to remove the exclusion if your policy has been in effect for 2 years

Details, please refer to your agent. TQ

Yes it is possible.

However Rm6k will still need to be paid and the possibility that your mum will be left with only the Rm20k deductible plan once her PruSenior Med Plan expires at age 80.

Online is possible. Just ensure that the signature used in the form is the same as in the policy document.

PFM is on annual limit,eg Rm50k (min) annual limit and up to 20x lifetime limit.

PMM min plan is Rm1.38m annual limit with unlimited lifetime.

Do check how much annual limit your PFM is offering.

Worth or not is very subjective because insurance is never worth until the event being claimed for happens.

Yes there will be a medical repricing next year for Prudential medical cards.

The repricing varies depending on the type of medical card eg full coverage will come with a higher repricing rate while some higher deductible plans (Rm20,000 deductible) is not affected with the repricing.

IMO there will be no end to the repricing if the hospital keeps charging the insurer at the rate they are charging.

The options to maintain or cushion the impact of the repricing is mentioned in the letter.

You may contact your servicing agent to discuss on a possible solution.

What's the story? Pls tag if you had ask before. Sorry i cant possibly remember everyone's case 😔

If it is still under follow-up with the Doctor then the Exclusion will still remain.

Only until the Doctor had cleared you that you no longer need to go back for follow up (with no recurrent) there is a possibility of having the Exclusion remove.

Was it palpitation?

The purpose of the Infant Care Plus (ICP) insurance rider is to bridge the insurance protection gap between pregnancy and after the baby is born. The pregnancy stage is considered 'high risk' for many of the insurers, which explains why most of the medical card do not cover pregnancy complications (even if have, it is with a limited amount).

Before the introduction of the ICP, baby insurance policy can only be purchased after the baby is born. If the baby is born healthy (eg, sufficient weight, no health complications) then it will not be any issue to purchase insurance for the new born.

However, if the baby is born with complications (such as under weight, congenital conditions, hole in the heart, or needs to be ICU) then Underwriters will want to wait for at least 2 years to assess before coverage can even be considered.

This is why it is recommended to buy the ICP together with the medical card (for the baby) during pregnancy stage.

Once approve, the ICP covered items starts immediately and there is no waiting period.

However, if the baby is born with any of the Congenital Illness and it is under the covered Congenital Conditions, the claims will fall under the ICP and not the medical card (eg, PruValue Med/PruMillion Med medical card rider). The medical card does not cover Congenital Illness.

For the details of the covered items, the ICP (2 plans), you may refer to the brochure

Infant Care Brochure

Yes the above illustration is correct as Early CI comes with a RM200K per life limit

If the purpose (to include the payor saver) is to 'project' that the policy is sustainable until the end of the policy term, then yes - because without the saver, the quote cant be generated.

Otherwise, if your purpose is to save or invest then there are other investment opportunities that you may want to explore if you want it for investment purposes.

Buy insurance for its protection value and never for its investment. ILP does not declare dividends unlike pure mutual funds.

Additionally investment is not simply put your money and expect it to grow. Constant monitoring, switching, rebalancing, redirection is required.

Just my 2 cents, other agents may disagree

This is a Yes and No Answer, depending on the product purchased. Some of the 'savings' / endowment plan it is unable to change fund as there is a 'guarantee' feature on the payment and the funds are managed by Prudential, therefore can't change/switch the fund.

However, for the normal ILP, yes you can redirect/switch funds which are *not* mentioned in the quote/PDS. For example, there is a new fund, PRULink Global Strategic Fund with Hedging#

My personal opinion is that if you are able to monitor the fund DAILY pricing, THEN you should opt to pay the premium manually and strategically pay only when there is a downtrend - to buy more units.

Same analogy goes if you are paying quaterly/half yearly/annually. See the trend as funds tend to stagnant after a while.

HTH

This post has been edited by roystevenung: Nov 12 2020, 10:40 PM

There is no such clause stated in the policy document as you claim above. It waives the contribution amount, but there is no mentioned whatsoever that you are not required to pay premium anymore if diagnosed with any of the CI.

First of all, it won't be automatic as your agent will need to submit a Critical Illness Claim (after 30 days upon diagnosis) together with the Doctor's report.

Secondly, the payment contribution (based on your frequency of payment, eg monthly/quarterly/half yearly or annually) will be taken over by the insurer and pay on your behalf and not "no need to pay premium any more".

As we grow older (or if there are other factors that affects the cost and cash value eg, medical reprising, funds not performing, withdrawals) our cost of insurance for the medical cover will still increase, therefore there is still a risk that the cost of insurance is more than the contribution.

If and when this occurs, you may be required to do a top up in order to sustain the policy.

No, medication after the 90 days is not covered.

No, any extra premium paid, it will not go automatically into the Investment Unit Account (IUA).

It will go into a suspense account (floating) there until utilized.

If you intend to do top up into the policy underlying fund, you may do so via single top up or regular via prusaver 95% allocation rate.

My personal advice is to only do single top up, by monitoring yourself the trend of the fund.

Some agents may advise you to do regular top ups to do Dollar Cost Averaging, but personally for me its complete bull. Why? Is because if you do regularly, commission is earn, 3%!

Investing when the fund is at an all time high, good luck getting your money's worth. Just my 2 1/2 sense.

PruValue Med Cost of Insurance

The projected cost of insurance for the medical coverage is mostly found in the brochure of the medical card that you purchased.

Yes the COI will increase as you grow older (which is also been mentioned in the Sales Quote).

If you require more reading, checkout my blog Insurance 101

PruMillion Med

All insurance COI increase as we get older as insurance is a business of risk transfer

The higher the risk, the higher the Cost of Insurance.

As age gets higher the spare part easily worn out, so to speak