As far as I know there isnt a Prudential medical plan that has Rm350/day Room and Board.

Anyho, yes you may downgrade the room. Rm200/day room currently able to get a 2 bedded room with Prudential corporate rate.

PM me your policy details or seek advice from your servicing agent if you need further assistance.

I see, that PruFlexi plan has been discontinued.

You may ask your servicing agent to upgrade to either PruValue Med Rm1m Med Value Point or PruMillion Med Rm1.38m pa annual limit as compared to your current Rm50k annual limit

There is a slight chance that it is nott necessary to increase the premium as PruFlexi Med (Full Claim) + Hospital Income (built in into the room & board) commands a higher insurance charges as compared to the PruValue Med (PVM) / PruMillion Med (PMM) with a RM300 Deductible (that you need to pay yourself).

Get a quote from your servicing agent for a RM100 and RM200 R&B PVM & PMM for comparison purpose.

For PVM, you can also ask your servicing agent for a quote for RM300 Deductible & full claim before deciding. For PMM, it is fixed RM300 Deductible as there is no option for a Full claim.

My advice - to lower the monthly premium/COI, is to get the RM300 deductible as it is not always we get admitted to the hospital.

This post has been edited by roystevenung: Jan 21 2021, 02:13 AM

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288% of BSA

4. If you select 30 years of policy term, the total entitled Annual Booster at maturity comprises 288% of the Basic Sum Assured.

The BSA is not compounded. Can't say much here

Yes, Prudential is offering Protection Relief for Existing Prudential Customers Abroad (PREPCA) to Malaysians staying/working abroad but is only limited to Singapore and Brunei

Do get in touch with your Prudential agent to know more.

It is applicable to new/existing customer.

The accident riders or PA is not entitled for Tax Relief, this is why it is not showing in the Life Assurance Premium Statement (LAPS) as the LAPs is use solely for the tax relief purposes.

Check with your servicing agent. My 2020 ILPs statement is showing the Accidental Death Benefit.

You may also login to Prudential Customer Portal PruAccess Plus to view details of the policy

Your friend may either email or call the Prudential Customer Service to know in more details of his PruSave coverage as PruSave is able to attach various riders to the policy, including Critical Illness/Accident Coverage/Hospital Income etc.

He has been paying since 2003 (RM2100 annually) x 18 years = RM37,800 and getting an estimated surrender value of RM39,000, no doubt it is only an increase of 3.x%, I would say he is already getting his insurance for free.

Let us not forget the purpose of insurance that he is covered with a RM60K life/tpd insurance.

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Upon the policy maturity date, the policy will be paid with an Estimated Maturity Value. The calculation for the Estimated Maturity Value is as per below:-

Estimated Maturity Value = Sum Assured (RM60,000) + Reversionary Bonus (Not Guaranteed) + Terminal Bonus (Not Guaranteed)

The Estimated Reversionary Bonus is declared yearly and is based on the profit sharing that the underlying life funds which the premiums are invested in. These profits are then added to the policy as an annual reversionary and terminal bonus.

The Estimated Terminal Bonus is declared when the policy matures and is based on the profit sharing as mentioned above. Therefore if the policy were to mature on a bad performing year, the Estimated Terminal Bonus may get lesser. OTOH if it matures on a good performing year, it could also be higher than the projected terminal bonus.

As in any investments past performance does not guarantee future returns. Therefore the Reversionary Bonus/Terminal Bonus may fluctuate.

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PruSave is an old policy which unable to be upgraded, therefore any add on has to be on the new policy.

The medical underwriting will look at the following criteria for someone with a history of Hypertension
1. A person's age & gender
2. BMI
3. Whether the HBP is well controlled (with meds or other means)
4. Family history of HBP related illness (eg, heart attack, stroke, premature death related to illness)

If all the above criteria is met, then the policy may be offered as a standard case (with no loading) otherwise expect a minimal loading to postponement / decline (if it not being controlled).

It's free, but you need to agree to share your personal data with 3rd party

How the 3rd party use your info, for promotional / leads generation sorry I have no idea.

Anyway, like Google/FB, it is already collecting information on your surfing patterns to generate leads to its advertisers. At least we ask for your permission

Naturally I signed up for it. It is not that the 3rd party can sell me any insurance

Correct me if I am wrong, the RM300K is referring to the Lifetime limit with an annual limit of Rm100K?

It is definitely a genuine concern as to having to maintain high insurance charges as we grow older. The reason for a higher insurance charges at older age is that hospitalization at that age is generally more expensive as our parts have worn out, so to speak. Hopefully you are also made aware that a 30 days ICU at a private hospital for stroke/coma can also cost > RM120K

For the medical insurance, what is stated in the brochure is also subject to change (for the higher) due to the medical inflation.

Example, a 3 days 2 night fever admission at a private hospital that used to cost below RM1K, 15 years ago is now at least RM4k! Therefore we cannot expect the medical insurance charge to remain constant.

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Assuming that you had started the medical plan at age 50 with a premium of RM1.5K/pa and the insurance charge is at RM1.4k. This is sufficient to pay of the insurance charges for now. However at age 65, the insurance charges has since gone up to RM3.8k/pa.

The variance of the insurance charges (you are still paying RM1.5k pa) will have to be paid from your accumulated cash values along the 15 years period. Once the cash value is unable to support the insurance charges, then you'll need to top up or risk having the policy lapse.

There are also many external factors that causes the cash value to be insufficient and the policy unable to sustain until the end of the term. One of the most common issue is because people treat the available cash values as their savings.

This, sadly is caused by agents conveniently forgetting to mention that as they grow older their insurance charges will go up. I have lost count of the number of times when a prospect ask me "Ada saving ke tak?" as they had been told that there is a savings element in the ILP. Naturally the back of people's mind, they treat it as savings and tend to withdraw when their finances are tight.

They weren't informed that if you were to attached a medical plan, the insurance charges is subject to increase. They are only being sold Unlimited coverage, NO LIMIT BLA BLA BLA, see my XYZ company medical plan is BETTER THAN PRU.

There is also external factors that is not taken into account when the insurer calculated the sustainability of the medical plan (projected cost of insurance vs projected cash values).

For example, no one predicted Covid and US+EU vs China trade war. During the lockdown in Mar 2020, most funds went down 20%~25%. If your insurance charges were to increase during that time, your cash value would have gone down by 20~25%!

One thing good about insurance funds is that no matter what happens people still keep paying their premium and most funds had recovered within 6 months, if not surpassed its original NAV before Covid.

[Disclaimer] The above is my personal opinion and experience, if you need the exact detail, do consult your policy document/make a call to Prudential

Yes advance payment is not allowed if you use the Prudential online payment. You can use the portal to pay on the 2nd of every mth as the policy due date is always on the 1st of the mth.

If you still want to pay in advance, you may use bank online transfer to Prudential Assurance (M) Bhd or PruBSN Takaful Bhd (depending on your policy). Key in the policy no as the reference no.

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.

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.

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.

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

Yes you are right, if you keep buying at a higher price you are buying lessee units.

Please read the sentence as a whole, not by part 🤣

It mean don't keep investing when funds are at a all time high.

As to which funds to choose will depend on your risk tolerance towards the investment.

Which fund to choose is very subjective because one particular fund may give higher returns now but few years later it may be stagnant.

Example, now due to the US + allies trade war, most of the China related tech funds are at an all time low.

This is a good time to do fund redirection or switching from a non performing fund.

However maybe in the future once the sanctions has been resolved, this fund may again be stagnant.

Therefore repeat the above process as needed.



This post has been edited by roystevenung: May 6 2021, 04:20 PM

The cost of insurance for the payout for Death/CI will be very much dependent on the sum to be insured, age, gender, occupation, smoker or non smoker. The cost also varies if you want to opt to cover for only end stage CI/early CI.

As for the medical plan, here is the Prumillion med. The room & board cover ranges from RM200~RM500 (annual limit RM1.38M~RM1.98M), unlimited lifetime limit.
PruMillion Med

There is also an option to select whether the premium payment (along with the projected cash value) is able to be sustained for how long, eg, up to age 80/90 or 100.