Hi, I am in the similar situation like you, about rm1.6k/month for 4 family members, all of us with 990k annual limit/no life time limit med card with minimum death/TPD coverage, expect me with CI coverage (term CI with death/TPD) + a few whole life policies.

For me, I see insurance as protection and it can be break into 3 parts:

1) first line of defence (med card), 1 million med card should be sufficient to cover med fee for most CI illness, please look for outpatient as charged plan.

2) next thing to worry is once hit by CI, we need some money to survive for at least 1-2 years (if the CI perlonged more than two years...chances of surviving is low and we don't need huge coverage for CI) , term CI is cheaper option

3) last, need some dealth/TPD coverage, if we cannot survive, just need some sum to cover the debts (home loan especially) and some money to allow family to survive for next 5-10 years (live with basic life style) without any income. If we have young children, it will be good to allocate some sum for their education.

My only concern is TPD...half death...half way here and there...

Btw, just make sure the total premium should not be more than 10-15% of our nett income... no point have high coverage and no money left to live...life is full of risks, we live with risks everyday.

Just my 1 cent opinion

This post has been edited by clickNsnap: Aug 14 2017, 07:12 PM

Seems to me that 1.6k month for 5 pax is really high for just medical coverage only.

With such a low sum assured amount, that's very risky if disability or critical illness were to happen.

Before going to BNM, you may lodge an official complain with Ombudsman (Financial Services Bureau)

http://www.ofs.org.my/en/how_to_lodge_a_dispute

I believe the delay is due to bank and insurance company inter communication.

This is also why generally people go directly to the insurer to buy insurance and banks for loans/banking related services..

Hopefully you can get it resolved asap.

You can try writing in to AIA for a written response, and then follow up from there. Banks only cross-sell insurance, they aren't really handling the insurance. So it's best to liaise with AIA directly, and get a written trail and work to resolve it from there.

Hope this helps.

Cheers.

This post has been edited by ssh2222: Aug 15 2017, 04:17 PM

I have prudential Global fund policy which about 2 years didn't pay the premium. Now i want to continue to pay back.
My agent encourage me to take out the cash value and then pay back the outstanding premium up to date.
basically it is from left to right pocket.
My agent say it is better and good.

Is it true?

I am holding an old plan called Pruflexi Med with only 80k annual on medical bill

I am interested to get PVM with deductible clause , is it possible and eligible?

any expert agent here can help?

Uh not recommended because your policy might lapse if there is insufficient cash value since already 2 years you didn't pay for the premium already and still want to use up your cash value further.

Choice is still yours to decide

whats the current best plan for prudential now?

Hi All,
Is it ok to buy insurance policy with different agents?
My wife and my kids policy from my wife agent, and myself and my son from my agent.
Now i want to buy another policy is from new agent?
Although all insurance policy from the same company Prudential.

Is it ok to buy with different agents?

Sure no problem buying from different agents. So long you know who to get in touch with when need be.

Best,
Jiansheng

Ya no issue, two agents are better than one right? If can't reach the initial agent got another backup agent to call.

Anyway, your cover is with the insurer, not the agent. Agent can die/get sick, you can change agent if that happens.

Hi, Prudential insurance expert,

I am quite confused with the Prudential insurance riders which are stated as follows:-
1). Crisis Shield rider
2). Crisis Shield Plus rider
3). Enhanced Prupayor Basic rider

My questions are:-
a). What are the differences between Crisis Shield rider and Crisis Shield Plus Rider?
b). If I want to include Crisis Shield Plus rider in a policy, do I need to buy Enhanced Prupayor Basic rider as well?

Thanks for replying.

Guys, i bought my Prudential medical card insurance around 6 years ago.

RM50k annual limit, RM1 million life time, no outpatient available, only cover to age 70, RM20k for CI, RM30k for Death/TPD.

I met one agent from Tokyo Marine, he quote me below with RM150+ premium:
No annual limit, RM1 million life time, As charged and opened up to life time limit for outpatient, cover till age 90, RM60k for CI, Life Assured to age 70, RM60k for Death/TPD.

With my situation, upgrade current medical card or surrender and buy the new one from Tokyo Marine? If surrender and buy new, how long period i need to wait before i can claim IF something happen in the future? This agent tell me only need to wait 4 months but i read somewhere need wait at least 2 years when change plan or else the company have the right to reject claim?

Please enlighten me. Thanks.

Best to explain with examples.

Example 1 Mthly premium Rm200 ILP
Death/TPD Cover Rm100k
Crisis Shield Rm100K
No other riders

Scenario A death occurs first:
Rm100k is payable from Death/TPD to beneficiary and policy terminates

Scenario B 36 CI occurs first and then after 3 moths death
Rm100k Crisis Shield is payable and the death benefit is "accelerated", therefore upon death, no benefit will be paid out from the death/TPD.

Example 2 Mthly premium Rm250 ILP
Death/TPD Cover Rm100k
Crisis Shield Plus Rm150K
No other riders

Scenario A death occurs first:
Rm100k is payable from Death/TPD & Rm150k from Crisis Shield Plus to beneficiary and policy terminates

Scenario B 36 CI occurs first and then after 3 moths death
Rm150k Crisis Shield Plus is payable. The Policy premium is still to be paid as there is still death/TPD benefit in the policy. However the premium may be reduced as the Crisis Shield Plus insurance charges has been taken out from the policy.

Upon death 3 months later, the death/TPD benefit Rm100k will be paid out.

Example 3 Mthly premium Rm280 ILP
Death/TPD Cover Rm100k
Crisis Shield Plus Rm150K
Enhanced Prupayor Basic

Scenario A death occurs first:
Rm100k is payable from Death/TPD & Rm150k from Crisis Shield Plus to beneficiary and policy terminates

Scenario B 36 CI occurs first and then after 3 moths death
Rm150k Crisis Shield Plus (CSP) is payable. The Policy premium is payment is then taken over by Prudential, paid by the Enhanced Prupayor Basic (Rm280/mth).

Since the CSP has been claimed, the benefit is terminated and there is no more insurance charges on this benefit. Therefore the CSP insurance charges portion will be going straight to the buying of units, generating more cash values for the policy.

Upon death 3 months later, the death/TPD benefit Rm100k will be paid out.

Summary
As to whether to include Enhanced Prupayor Basic (EPB) or not is highly dependent on what you have in the policy.

If the policy has a medical card attached to it or high death/TPD benefit, it is best to attached with EPB as once a person is diagnosed with any of the 36 CI/TPD, if he is unable to work to generate an income, the policy may be at risk of lapse if there is no premium payment.

This post has been edited by roystevenung: Sep 20 2017, 03:37 PM

I have no comment on Tokio Marine Policy as I do not represent it. The only way to know is to read the policy document and possibly ask around a few hospitals on their claim.

However, it could be challenging for a layman to read an insurance contract as some clauses co-relates with one another. The insurance contract is to be read as a whole, rather than part by part.

Whenever a new policy is started, there is a 120 days Waiting Period for illness that falls under "Specified Illnesses", e.g., kidney stones, slip disc etc. In addition there is a 2 years of "Incontestibility Period" that prevents the insurer from null and void the policy (unless there is clear evidence of misrepresentation of material fact)"

With that being said, let us SWITCH ROLES, shall we? You become the insurer and I become the client. I cancel my old policy (due to "better benefits") and buy a new one from you. I pay you Rm150/mth x 4 mths = Rm 600.

Immediately after the 120 days I want to claim for Slip Disc and the cost is Rm40,000. Will you pay without any form of investigation? No investigation? Sure?

For upgrade, there is no Waiting Period. Any claims below 30 days from the upgrade, it is still claimable under the old policy.

Of course you are required to disclose all material fact that may impact how the poicy is being underwritten before the coverage can be granted.

I believe the only person that can answer your question is your agent as he knows your age/occupation/cash values and how much is being charged for the insurance charges based on the coverage that you had purchased.

If you have lots of 'saver' that generates cash values in the policy (or if the fund outperforms) then there is no harm to withdraw the cash value to pay for the policy. At least by doing this you are not required to fork out cash.

Just remember that if you were to withdraw from your cash values, as you grow older and the higher insurance charges is applied, you may be required to do top ups.

For Example 3, if the policy mature before the insured person dies, what benefit shouldl the insured person entitle to, does it include Crisis Shield Plus benefit RM150K?

This post has been edited by firee818: Sep 21 2017, 09:48 AM

When you change a new policy, you will need to adhere to the 120 days waiting period for Specified Illness.

At the same time, there is a contestability clause for 2 years which says that the insurance company have the right to deny your claim if it is found to be a fraud (hiding facts upon signing of the new policy).

Meanwhile, instead of just upgrade your medical card, you should also look into your portion on Life Insurance and Critical Illness coverage.

Could you elaborate on "two years 'incontestibility period' that prevents the insurer from null and void the policy"?

What about the 120 days specific illness waiting period, if I upgrade my Pruhealth to Pruvalue med, does it cover under Pruhealth?

This is a heavily discussed subject among general public.

I like to use situational example in this:

Patient A went for a checkup after not feeling well and was confirmed by doctors that he contracted cancer stage 4. He had to be immediately admitted to hospital and get further checks and medication done. Its a surprise to him since he was never been diagnosed with it or know about it before. He also aware that he had signed for an insurance policy 3 months back and he would like to use it for the treatment purpose [some insurance type may also provide lump sump of money!]

Now what happen next?

Well in this case, it is likely that when he intend to use the insurance policy, the request is going to be suspended by the insurance company. Why?

The 'incontestability' refers to the assumption that you were 100% healthy at the time you signed up for the policy. Any major illness that you are diagnosed over later such as cancer commonly, if the stage of severity or size of the tumor is not relevant to the timeline i.e you have larger than 5 cm tumor within 3 months of enforced policy, the insurer reserve the right to suspend or even reject the usage of the insurance. Insurer will have a panel of doctors who review and confirm this.

Reason being is to avoid fraud while at the same time protect the insurer themselves as well as other subscribers. Its almost the same as the 120 days imposed if you newly sign up a policy.

Most ilp policies matures at age 100 and if it matures then the insurer will pay out the remaining cash values (if any).

The CSP is only claimable upon death, 36CI or TPD event