^ everything comes at a cost. Everyone also wants unlimited this, unlimited that, including myself.

But when it comes to premium payment, if there is no limit on the claims, the premium payment would be impossible to be calculated. After all we do not want unlimited PAYMENT, yes?

Additionally, for your info, one of the biggest issue with the medical insurance is that the insurance charges is NOT GUARANTEED and the insurer has the right to increase the charges as and when it sees fit.

The insurance contract and its benefits is to be read in its ENTIRETY, and not line by line, meaning some of the clauses, may cross references at some point.

Believe it or not, all medical insurance including the newest plans has some form of limit, if you know how to dissect the plan.

If there is no limit whatsoever, I fred to imagine how much I would be paying for the medical insurance when I am 80yo!

Therefore if the plan meets your needs and budget, that is all that matters. Just my 2 cents

Agree, the plan must meet needs and budget. Thanks for sharing, Roy.

Unlimited plan may be too much for us...none of us would like visit hospital and claim the unlimited med bills. But all the insurance companies are selling 'unlimited plan with conditions' now, not sure when the med card war started

For me...buying insurance is 'transfer risk' to the insurance company and the med card is the 'first line of defense'.

This post has been edited by clickNsnap: Jul 14 2017, 02:52 AM

I also just upgrade to PVM...
Actually for newbies, it is confusing with Pru new terms (in PVM) of Med value points , medsaver, and unlimited lifetime coverage, etc and not using old terms co-insurance terms, annual/lifetime limits, etc.

Still the same at the end. YOU are right actually for your understanding...so don't be confused by the Pru new terms or argue on the terms....

E.g. if I sign up with med saver 300 and 1 millions Med points with so call unlimited lifetime coverage and upon that Pru will still cover 80% of medical fees.
Actually equal to old terms of co-insurance of 300 and lifetime limit of 1 mil. After the 1 mil limit Pru will pay for the 80% medical fess and we pay for the balance 20%.

E.g. again. we are discussing normal heart surgery and not kidney/cancer things.
If the bill is 1.2 mil, so the payment will be
- 300 co-insurance (if medsaver 300)
- Pru cover 1 mil of bill (limit)
- 200,000 exceeded the 1 mil limit already. So split into 20:80.
- Pru will pay 80% of the excess limit, = 200k x 0.8 = 160k
- We have to pay 20% of the excess limit= 200k x 0.2 = 40k. (ignore the 300 co-in for ease of calculation)

Of coz , not necessary the bill 1 shot is 1.2 mil, could be multiple bills/ event until we use up the limit of 1 mil...(lifetime limit actually)....then after that whatever excess will split into the above 20:80 scope....forever...this is why they call it unlimited coverage...

So Pru market it as unlimited lifetime coverage (but with 20:80 split of cost after exceed the lifetime limit or they call med value points now).

Hope this is clear...from understanding of PVM customer.

Thanks for the detail explanation. It helps a lot of us to know more for the Prudential PVM.

No prob. as it is still considered as "new" plan, my explanation was as a customer understanding...actual still need to be verified by Pru Agent.

How long does it usually take to process my surrender application? I surrendered my policy at PJ branch on 6th July, but my certificate is still active as of now when I check online.

It only takes 3-5 working days. You may need to check with the branch that you surrender.

The common issue that happens on surrendering the policy may include the signature differs (the signature on the surrender form <> the policy document) or a signature of an automatic trustee (if a person is single and nominate the parent, the signature of the parent) is required.

This post has been edited by roystevenung: Jul 18 2017, 09:10 PM

I see. I thought they will call me if there is any issues. Guess I need to go there again.

If there is any issues with the surrender, it will be communicated to your agent and your agent is supposed to update you.

You may also call Prudential Customer Service during normal working hours at 03-2116 0228 to inquire. No need to go to the office just to ask the status of the surrender.

This post has been edited by roystevenung: Jul 19 2017, 12:13 AM

I see. I guess that's why no one contacted me since I don't have any agent (my former agent quit, but he's still my agent according to the system). Thanks for the info anyway.

Guys, I m 28 years old male. Havent bought any insurance yet. Looking for medical card + 36 critical illness. I glance though Prudential products, i found that basically got 6 categories which are protection, savings&investment, retirement, critical illness&health, riders and funds. I saw most here looking for PRU Saver and PRUvalue Med only, actually what are the difference? As i saw in protection some plans also covers critical illness, medical n life. I totally confuse now.

Hi

Insurance plan provides multiple area of coverage which entails of

1) Protection
2) Savings for Retirement
3) Critical Illness
4) Medical Card

You can have an option which covers all of these if budget is enough.

If you've not have an insurance before this then it's always important to get a Medical Card first to cover for any arising healthcare cost, followed by Protection & Critical Illness as income replacement.

It should come about the budget of RM150 - RM200/mthly.

It is always proper to speak to a life planner to understand your need as what I've mentioned above is purely general without analyzing your financial background at all.

Hi roy

I hope u are doing well. I sign up for PVM 4 month ago and happen to be where i met an accident 2 weeks ago. Lucky that i have this medical card, so all the expenses for hospitalization is covered by prudential. I fractured my right leg and my toe. Because of this doctor put in the titanium in my leg to support the bones. My question is that under this PVM plan, how much i entitled to claim for my fractured leg? I did ask my agent but she seems not sure as she is a new agent. What other thing that i can claim under this PVM plan? For now, im in mc for 3 month, can i also claim the mc with prudential? Thanks u so much in advanced mate.

Need to see whether you have any other riders such as accident income.

I already check with my agent and she is checking it now. For your information, currently im paying 200 for this PVM plan and i got 1milion for medical card. Normally how much it cost for accident income? And roughly how much we can claim for fractured leg if i have this riders? Thanks ya.

To be more accurate, it is best to refer to your policy details as there is no point for me to let you know about something that is not in your policy.

Please understand that I am not able to comment by just looking at the premium of RM200 and the medical card as there are many other factors that determines your premium payment.

If you want me to comment on whether your policy do include such benefits, you may login to our customer online portal and snap shot the list of coverage in your policy and PM to me.

<< PRUAccess Plus >>

I used to pay RM176 monthly for all in one plan (36 illness, life, PA, Medical) but lately I got the letter from prudential told me that the premium "have" to be increase till 190+ and give me additional of RM25000 (whole life medical coverage) and what is my rights here? When I buy the agent told me it fixed for life!!! unless the economy is really goes bad so I might need to top up, but in this case the economy still goes well. I don't want the so called "upgrade" and I never agreed on the upgrade, how comes they can silently increase like tat without my approval?

The premium is not fixed as claimed by the agent. It is never guaranteed especially when there is a medical card attached to it.

Even the sales quotation has a bold text that reads the insurance charges is not guaranteed.

The letter is to inform you officially when the increase will take place.

Unfortunately the increase is mandatory.

This post has been edited by roystevenung: Jul 31 2017, 06:57 AM

Hi,
I bought prudential insurance for all my family members of 5pax.
I emphasized on the medical card, hence each one of us have 1 mil medical coverage annual waived, but the whole life(36 critical illness) sum assured coverage is very low around RM10 to RM40K only.
Every month i pay around RM1.6Kp/m.

I feel that my wholelife(36 critical illness) only RM40K which is very low.
I came across Pru-Wealth package which i think is good-la....
Pru-Wealth sum assure 500K i think the premium is around RM500 to RM600p/m, still waiting for quotation.

But i don't want to pay another RM500 to RM600p/m while i already pay RM1.6Kp/m for my existing policy.

Any advise?

Thanks

Hi guys, I need help. 2 months ago I sign up a insurance/investment package that involved AIA and public bank. Normally this kind of thing allow us to cancel within 15 days after receiving the policy, with I did. I even got the cancellation ID from AIA. however they have been delaying my refund that I have paid during signing up. Made numerous calls to public bank and AIA but they keep giving excuses! Till date they owe me almost rm2k! Is there any place which I can file a official complaint like through bank negara? Can bank negara help in this?