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 All about PRUDENTIAL & insurance updates!, any insurance related issue are welcome

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7498
post Oct 24 2018, 08:53 AM

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QUOTE(roystevenung @ Oct 23 2018, 10:59 PM)
It depends on your purpose and needs. The increase from 30k to 100k for Death & Crisis Shield is optional. PruAcci Med from 2K to 1M is not correct.
No, PVM is not connected to the death benefit, CSB or PruAcciMed. In short, upgrading the PVM, it is not mandatory to upgrade the Death/CSB/PAM.
Then just do the medical upgrade, the rest is optional.
The answer - yes, you can cancel/customize those riders that you don't need but before you do so, please see below and if possible answer them  notworthy.gif

I know it is not good to answer a question with a question, however, in this case I will have to ask.

Why are you concern of higher limit on the medical? Are you worried of huge medical bills say > RM200K due to a serious accident or illness?

If you are not concern of huge medical bills, why even bother to upgrade your current medical, right?  hmm.gif
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I want to get a higher limit medical card because of the rising medical cost nowadays. My current PH limit is only 60k per annum and 600k lifetime which I feel is not enough. I signed up that medical card when I was 24 years old and had failed to realise the importance of having a powerful medical card. Dont know why I even signed up for medical card with such low limit, macam no protection doh.gif

I am planning to get a separate life policy, so I am not concern about having higher death benefit in my current PLR. Or do you think I should just increase the death benefit in my current PLR? unsure.gif

For PruAcciMed, I feel it is kinda redundant if I already have PVM? since both cover medical and hospitalisation cost.
ytan053
post Oct 24 2018, 10:58 AM

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QUOTE(7498 @ Oct 24 2018, 08:53 AM)
I want to get a higher limit medical card because of the rising medical cost nowadays. My current PH limit is only 60k per annum and 600k lifetime which I feel is not enough. I signed up that medical card when I was 24 years old and had failed to realise the importance of having a powerful medical card. Dont know why I even signed up for medical card with such low limit, macam no protection doh.gif

I am planning to get a separate life policy, so I am not concern about having higher death benefit in my current PLR. Or do you think I should just increase the death benefit in my current PLR?  unsure.gif

For PruAcciMed, I feel it is kinda redundant if I already have PVM? since both cover medical and hospitalisation cost.
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Definitely need an upgrade in your medical card as 600k lifetime limit is old plan. at least go for min RM1m PVM.

To know how much you need for your life insurance needs, it depends on whether you have dependents and there is a calculation to work around it. you need to find a professional who analyse all your existing insurance coverage and identify the excess or gaps in your insurance needs to tell you what to do further. while buying insurance is important, you need to look at your cashflow as well, many other angles to consider, including your other existing insurance coverage etc

PruAcciMed serves as a different purpose as PVM but dont bother with upgrading of PruAcciMed under Pru, always buy the personal accident coverage via general insurance that offers much competitive premium at higher coverage.
7498
post Oct 24 2018, 12:41 PM

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QUOTE(ytan053 @ Oct 24 2018, 10:58 AM)
Definitely need an upgrade in your medical card as 600k lifetime limit is old plan. at least go for min RM1m PVM.

To know how much you need for your life insurance needs, it depends on whether you have dependents and there is a calculation to work around it. you need to find a professional who analyse all your existing insurance coverage and identify the excess or gaps in your insurance needs to tell you what to do further. while buying insurance is important, you need to look at your cashflow as well, many other angles to consider, including your other existing insurance coverage etc

PruAcciMed serves as a different purpose as PVM but dont bother with upgrading of PruAcciMed under Pru, always buy the personal accident coverage via general insurance that offers much competitive premium at higher coverage.
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Yes, indeed. plan to go for PVM RM1mil. I even thought of terminating PruAcciMed, current limit is RM2,000 only.
ChloeKhar
post Oct 24 2018, 10:34 PM

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Just wonder, if upgrade from existing medical card, is there still required 120 days waiting period? Within this period, is there any coverage?
roystevenung
post Oct 25 2018, 08:59 AM

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QUOTE(ChloeKhar @ Oct 24 2018, 10:34 PM)
Just wonder, if upgrade from existing medical card, is there still required 120 days waiting period? Within this period, is there any coverage?
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It depends on whether the existing policy is from the same insurer and if it is not, whether the insurer accepts "take over" (from other insurer) of the Waiting Period.

However, if it was an upgrade from an existing Prudential medical card and it has surpassed the Waiting Period, the upgraded card will not have any Waiting Period. If the old card has not surpass the Waiting Period of 120 days, eg it is now 70 days, then the upgraded card WP will continue from the 70 days.

For Prudential, we do not accept "Take Over" of the Waiting Period (if the existing policy) is from another insurer.
7498
post Oct 26 2018, 03:00 PM

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If I change from PH to PVM, is that considered upgrade or new medical card?
roystevenung
post Oct 26 2018, 05:16 PM

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QUOTE(7498 @ Oct 26 2018, 03:00 PM)
If I change from PH to PVM, is that considered upgrade or new medical card?
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Upgrade
ChloeKhar
post Oct 26 2018, 11:14 PM

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QUOTE(roystevenung @ Oct 25 2018, 08:59 AM)
It depends on whether the existing policy is from the same insurer and if it is not, whether the insurer accepts "take over" (from other insurer) of the Waiting Period.

However, if it was an upgrade from an existing Prudential medical card and it has surpassed the Waiting Period, the upgraded card will not have any Waiting Period. If the old card has not surpass the Waiting Period of 120 days, eg it is now 70 days, then the upgraded card WP will continue from the 70 days.

For Prudential, we do not accept "Take Over" of the Waiting Period (if the existing policy) is from another insurer.
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Thanks for your clarification:)
wcpon
post Oct 27 2018, 03:25 PM

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Hi, currently I have my insurance in Prudential, which are PRUlink one & PRUvalue Med that in one single policy number.
If I want to upgrade my PRUvalue med to PRUmillion med and remain PRUlink one.
Is it possible?

It will become two policy number (PRUlink one & PRUmillion med) or one policy number?

roystevenung
post Oct 27 2018, 06:54 PM

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QUOTE(wcpon @ Oct 27 2018, 03:25 PM)
Hi, currently I have my insurance in Prudential, which are PRUlink one & PRUvalue Med that in one single policy number.
If I want to upgrade my PRUvalue med to PRUmillion med and remain PRUlink one.
Is it possible?
At the moment the PruMillion Med medical ridercan only exist in PruWith You ILP plan.

Therefore for the time being it has to be transfer of medical card from PruValue Med (attached to the Prulink One) into another policy ILP PruWith You with the PruMillion Med.

QUOTE

It will become two policy number (PRUlink one & PRUmillion med) or one policy number?
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2 policy number
wcpon
post Oct 27 2018, 10:22 PM

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QUOTE(roystevenung @ Oct 27 2018, 06:54 PM)
At the moment the PruMillion Med medical ridercan only exist in PruWith You ILP plan.

Therefore for the time being it has to be transfer of medical card from PruValue Med (attached to the Prulink One) into another policy ILP PruWith You with the PruMillion Med.
2 policy number
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Hi, is there any plan from Prudential the PRUlink One can rider with PRUMillion Med? and only handle 1 policy number.

This post has been edited by wcpon: Oct 27 2018, 10:23 PM
roystevenung
post Oct 27 2018, 10:29 PM

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QUOTE(wcpon @ Oct 27 2018, 10:22 PM)
Hi, is there any plan from Prudential the PRUlink One can rider with PRUMillion Med? and only handle 1 policy number.
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Sorry, no. At the moment PruMillion Med can only be attached to PruWith You.
wcpon
post Oct 27 2018, 10:37 PM

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QUOTE(roystevenung @ Oct 27 2018, 10:29 PM)
Sorry, no. At the moment PruMillion Med can only be attached to PruWith You.
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I mean, in the future.. any possibility on that? Prudential got no plan for that?
roystevenung
post Oct 27 2018, 10:40 PM

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QUOTE(wcpon @ Oct 27 2018, 10:37 PM)
I mean, in the future.. any possibility on that? Prudential got no plan for that?
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No news as of yet, therefore can't confirm whether 'endorsement' for old policies may include PruMillion Med.
wcpon
post Oct 27 2018, 10:45 PM

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QUOTE(roystevenung @ Oct 27 2018, 10:40 PM)
No news as of yet, therefore can't confirm whether 'endorsement' for old policies may include PruMillion Med.
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Noted. Thank you very much. smile.gif
PPZ
post Oct 28 2018, 09:58 PM

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Hi, i wonder if prudential has pregnancy and education insurance? Is it worth buying both of them?
roystevenung
post Oct 28 2018, 10:51 PM

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QUOTE(PPZ @ Oct 28 2018, 09:58 PM)
Hi, i wonder if prudential has pregnancy and education insurance? Is it worth buying both of them?
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If you are referring to pregnancy complications, infant care, congenital illnesses, then yes, there are insurance coverage during pregnancy 14 weeks into gestation.

However, if your intention for the pregnancy insurance is for the insurer to pay for the baby normal delivery/C-sect, then there is no Malaysian insurer that provides insurance for that (as far as I know).

Education insurance, well, my personal advice is a big fat "No" blush.gif

Buy insurance for protection, not investment.

This post has been edited by roystevenung: Oct 28 2018, 10:53 PM
PPZ
post Oct 29 2018, 09:12 AM

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QUOTE(roystevenung @ Oct 28 2018, 10:51 PM)
If you are referring to pregnancy complications, infant care, congenital illnesses, then yes, there are insurance coverage during pregnancy 14 weeks into gestation.

However, if your intention for the pregnancy insurance is for the insurer to pay for the baby normal delivery/C-sect, then there is no Malaysian insurer that provides insurance for that (as far as I know).

Education insurance, well, my personal advice is a big fat "No" blush.gif

Buy insurance for protection, not investment.
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Thanks... yes.. what i mean the pregnancy insurance is for the pregnancy complications etc just in case.. Normally how much the premium and how much to pay monthly?

For education insurance, why not to buy it? Wont it be better to have a lump sum of money after the education mature for your children's education?
7498
post Oct 29 2018, 10:09 PM

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QUOTE(roystevenung @ Oct 16 2018, 12:16 PM)
If your Death Sum Insured is not sufficient, then you may add on the Death coverage on the old policy or look into PruWealth that provides high coverage Rm500k to Rm4m.

The reason for PruWealth is that there is a campaign currently running with no medical checkup limit (up to Rm4m), provided it is a clean case, no medical history.

On the medical upgrade, whether to maintain 2 cards or not depends on your budget, and most importantly your medical history during the application.

For example, if the old medical card does not have any Exclusion for cysts/growth and the cysts/growth had developed, it would be advisable to get a second medical card of which an Exclusion will be imposed on the new med card (as it falls under the preexisting illness).

A preexisting illness means the illness had existed before taking up the insurance.

Any claims for Cysts/growth, it is claimable under the old medical card, whereas any claims unrelated to the cysts/growth, eg major accident is claimable under the second card.

Do note that if you get a second card, the Waiting Period will start all over for new card.
Your old medical card will definitely be easier to claim as it has surpassed the necessary Waiting Period, whereas a new medical card (as a second card) has not.

Please ask your agent to list down the "some illness are not covered in the new PruValue med".

By the way, the new medical card is not PruValue Med, but PruMillion Med. PruValue Med has been selling 3 or 4 years ago.
Yup see above on two medical cards.

However if you are still healthy, with no significant past medical history, you may do a Transfer of medical from PruHealth to PruMillion Med and only maintain one medical card as it can be costly to maintain 2 medical cards at older age.

For Transfer of Medical Card, if the old medical card has surpassed the Waiting Period then the upgraded medical card will have no Waiting Period, otherwise it will follow the previous medical card Waiting Period (sounds fair right?).
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Hi Roy, do you mind to share more abt the PruWealth campaign mentioned above on medical check up, no limit and up to RM4m?

roystevenung
post Oct 29 2018, 10:37 PM

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QUOTE(7498 @ Oct 29 2018, 10:09 PM)
Hi Roy, do you mind to share more abt the PruWealth campaign mentioned above on medical check up, no limit and up to RM4m?
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PruWealth Campaign Period 1 Sep ~ 31 Dec 2018

NON Medical Limit (NML)
- Age 19 ~ 50 TRSA NML up to RM5m
- Age 51 ~ 60 TRSA NML up to RM3m
- Age 61 ~ 70 TRSA NML up to RM0.5m

Note
1. Non-Medical Limit is subjected to healthy / no major health complication
2. TRSA = Total Relevant Sum Insured (combination of all life policies)
3. If coverage is > RM2M, Financial Underwriting is required

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